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The Cosmetic Preservatives Market share will reach USD 1.4 billion by 2024

Author : Ravi Chawat | Published Date : 2021-02-05 

Cosmetic preservatives market size exceeded USD 975 Million, in 2019 and is estimated to grow at over 7% CAGR between 2020 and 2026. Growing incorporation of preservatives in cosmetics owing to importance given to increased shelf life along with upgrading product quality and increasing beauty awareness among population has resulted in rising skin care products sales, thereby driving the global market growth.

Favorable regulatory amendments by EU Commission pertaining to use of natural and organic cosmetic ingredients may positively favor market growth. Supporting policies act as effective tools to educate consumer pertaining to preservative content and benefits thereby increasing consumer adoption. Rise in demand for multifunctional and premium cosmetics has led to incorporation of sophisticated preservatives which may favor the cosmetic preservatives market growth.
 

Increasing consumer awareness and inclination towards cosmetic preservatives may positively influence product demand. Easy availability of natural and synthetic preservatives should boost industry growth. Application potential in hair care owing to health benefits like allowing product to remain fresh during the long span between the time of manufacture and the time the customer finishes using it may contribute towards cosmetic preservatives market share.

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Companies are investing in new technological developments and production capacity expansions to enhance their product portfolio. In March 2020, Clariant launched its new product named Velsan Flex which is a next generation preservation booster for personal care industry application. This product employs 93% RCI (Renewable Carbon Index) technology which is highly effective in combination with all preservative types. This enables 50% reduction of typical preservative while attaining safe antimicrobial cosmetics protection.

However, factors including COVID-19 pandemic will have a negative impact on global cosmetic preservatives market growth. The virus spread has led to lockdown of manufacturing plants in order to prevent infection. This may lead to declining profits of the manufacturers which may impact the cosmetic preservatives demand for manufacturing the end products.

Natural cosmetic preservatives segment is expected to witness appreciable gains over 7% by 2026. Rising concerns regarding synthetic chemicals pertaining to their safety along with carcinogenic nature has promoted use of natural and organic alternatives which may favor the cosmetic preservatives market.
 

Natural preservatives including natural antioxidants, organic acids, herbal extracts and natural oils are expected to grow during the forecasted timeframe. Essential oils including thyme, neem, orange, rosemary, clove and lavender exhibit antifungal and anti-bacterial activity. It also helps in balancing product shelf life by using less quantity of preservatives. Rising acceptance of novel ingredients along with technological advancements in extraction techniques will drive cosmetic preservatives market demand.

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https://www.gminsights.com/industry-analysis/wax-market

About Author

Ravi Chawat

Ravi Chawat

Ravi Chawat holds a bachelor's degree in Electronics and Telecommunication Engineering. He has worked closely with industry specialists from different segments including chemicals, food and beverages, construction and manufacturing & energy and power. Ravi's article concentrates principally on balancing relevant data but never at the expense of making the content engaging. He believes in giving fair-minded information to guide significant business choices. [email protected] | https://twitter.com/RaviChawat

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