Cosmetic Preservatives Market Share and Forecast (2021-2031)
The cosmetic preservatives market size is projected to reach US$ 684.37 million by 2031 from US$ 422.30 million in 2023. The market is expected to register a CAGR of 6.2% in 2023–2031. The rising demand for natural cosmetic preservatives is likely to remain a key cosmetic preservatives market trends.
Cosmetic Preservatives Market Analysis
The major factor driving the cosmetic preservatives market size is the strong growth of the cosmetics industry globally. Factors such as people's rising standard of living, increasing purchasing power, and rising demand for premium cosmetic products are driving the growth of the cosmetics industry. Urbanization and technological improvements have paved the way for access to different global brands. In recent years, there has been a growth in the use of different cosmetic products in men's and women's daily routines. Moreover, manufacturers are focusing on product branding, advertising, and new product launch strategies to increase the sales of cosmetics products. These factors are contributing to the strong growth of the cosmetics industry.
Cosmetic Preservatives Market Overview
Preservatives are substances used in cosmetics in order to prevent the growth of harmful bacteria and mold. Cosmetic products require preservation against microbial contamination to guarantee consumer safety and also to increase their shelf-life. Manufacturers of cosmetic products use different methods to prevent microbial contamination without affecting the properties of the product itself. Various synthetic and natural preservatives are used for the cosmetic products. Some of the key benefits of cosmetic preservatives are extending product shelf life, preventing microorganism growth, ensuring product safety for consumers, and maintaining product quality.
Strategic Insights
Cosmetic Preservatives Market Drivers and Opportunities
Growth of Cosmetics Industry In Europe
The strong growth of the cosmetics industry in Europe is driving the cosmetic preservatives market growth. The region marks the presence of various regional and global cosmetic brands. Social media marketing, rising digitization, and the advent of e-commerce beauty platforms are driving the sales of cosmetic products in Europe. In addition, Europe is one of the major regions for natural preservatives. Europe is the biggest market for natural ingredients for cosmetics, and the region’s demand for natural ingredients for cosmetics is growing consistently. In Europe, natural ingredients are very much on trend, and cosmetic producers are using a diverse range of natural ingredients to manufacture their cosmetic products.
Growing Demand for Men's Cosmetic Products
The growing demand for men's cosmetic products is expected to offer lucrative opportunities for the cosmetic preservatives market growth. In recent years, there has been a growth in the use of different cosmetic products in men's daily routines. The growth of social media has been a major driver in increasing the importance of looks, body image, and hygiene. This has resulted in an increase in the desirability of cosmetic products in the men category.
Cosmetic Preservatives Market Report Segmentation Analysis
Key segments that contributed to the derivation of the cosmetic preservatives market analysis are category, product type, and application.
- Based on category, the cosmetic preservatives market is segmented into natural and synthetic. The synthetic segment held a larger market share in 2023.
- By product type, the market is segmented into paraben, formaldehyde donors, phenol derivatives, alcohol, quaternary compounds, and others. The paraben segment held a significant share of the market in 2023.
- In terms of application, the market is segmented into hair care, skincare, baby products, toiletries, fragrances and perfumes, and others. The skin care segment held a significant share of the market in 2023.
Cosmetic Preservatives Market Share Analysis by Geography
The geographic scope of the cosmetic preservatives market report is mainly divided into five regions: North America, Asia Pacific, Europe, Middle East & Africa, and South & Central America.
The Asia Pacific region holds a significant share of the global market. The market is growing in the Asia Pacific region due to people's increasing purchasing power and the strong growth of e-commerce platforms and the cosmetics industry. Moreover, the rising demand for natural ingredients is also boosting the demand for natural cosmetic preservatives.
Cosmetic Preservatives Market Report Scope
Cosmetic Preservatives Market News and Recent Developments
The cosmetic preservatives market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. The following is a list of developments in the market for speech and language disorders and strategies:
- Brenntag, the global market leader in chemicals and ingredients distribution, today announced the expanded distribution agreement with ISCA, a leading manufacturer and distributor of specialty chemicals focused on preservatives for the cosmetics industry for several markets in Europe. (Source: Brenntag, Company Website/ News/ News Article/ August 2022)
- Ashland announced the launch of Phyteq Raspberry, a multifunctional preservative enhancer to protect cosmetics from deterioration. Phyteq Raspberry is a globally recognized, biodegradable, multifunctional additive based on a compound found in different plants, and this compound has been used in traditional Chinese medicine and Ayurvedic rituals for hundreds of years. (Source: Qingdao ECHEMI Digital Technology Co., Ltd., Company Website /News/Cosmetic Industry News/November 2020)
Cosmetic Preservatives Market Report Coverage and Deliverables
The “Cosmetic Preservatives Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas:
- Market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
- Market dynamics such as drivers, restraints, and key opportunities
- Key future trends
- Detailed Porter’s Five Forces and SWOT analysis
- Global and regional market analysis covering key market trends, major players, regulations, and recent market developments
- Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments
- Detailed company profiles
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Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
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Segment Covered
Category, Product Type, Application, and Geography
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Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
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Country Scope
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The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.