The worldwide cosmetic preservatives market accounted for US$ 362 Mn in 2021 and is expected to hit US$ 622 Mn by 2030, with a significant CAGR of 6.4% from 2022 to 2030.
Cosmetics are any other products containing organic/synthetic compounds that must be protected from microbial contamination. Cosmetic preservatives are responsible for the increased shelf-life of cosmetic products and lead to consumer safety. Hazardous cosmetics endanger consumers because they contain restricted or prohibited substances under current cosmetics laws. Cosmetic items can become contaminated with germs when handled directly by customers, resulting in decreased performance, product deterioration, and possibly irritation, infections, or other undesirable health reactions in the user. To avoid such occurrences, formulators include preservatives in their formulations. Many cosmetics products have optimal conditions for microbial growth such as water, pH, nutrients, and other factors. For instance, cosmetic products frequently contain large amounts of water and other organic or inorganic substances that could be contaminated by microorganisms such as fungi, bacteria, and molds.
|Market||Cosmetic Preservatives Market|
|Market Size 2021||US$ 362 Mn|
|Market Forecast 2028||US$ 622 Mn|
|CAGR||6.4% During 2022 - 2030|
|Analysis Period||2018 - 2030|
|Forecast Data||2022 - 2030|
|Segments Covered||By Product, By Application, And By Geography
|Regional Scope||North America, Europe, Asia Pacific, Latin America, and Middle East & Africa|
|Key Companies Profiled||Arkema Fine Chemicals, Ashland, BASF, Chemipol, Dadia Chemical Industries, DuPont de Nemours, Inc., Lonza, Salicylate and chemical Pvt Ltd., Sharon Laboratories, Symrise AG, and Thor Group Ltd.|
||Market Trends, Drivers, Restraints, Competitive Analysis, Player Profiling, Regulation Analysis|
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Market Growth Drivers
Covid-19 Impact on the Global Cosmetic Preservatives Industry
The global cosmetics market's growth rate has slowed since the Covid-19 outbreak in January 2020. Due to a labor shortage, cosmetic companies were forced to shut down their production units as a result of the global lockdown. Furthermore, the COVID-19 pandemic forced the closure of several cosmetic stores. COVID-19 has altered consumer purchasing habits, making them more cautious, resulting in a decrease in non-essential spending. The demand for scents and color cosmetics in many countries has been significantly impacted by nationwide lockdown and social distancing measures enacted by leading countries. Thus, the industry experienced a significant downturn from mid-2020 to mid-2021 but is expected to recover with significant growth as coronavirus cases decreased and lockdown rules were relaxed around the world.
The global increase in demand for cosmetics is the primary factor driving the development of the global cosmetic preservatives market. The rising per capita income, rapid urbanization, and increasing consciousness toward beauty are fueling the market growth. Additionally, the rising standard of living and an increased consumer shift toward premium and luxury cosmetic brands are also expected to boost the market demand. Growing positive effects of beauty and personal care on social interaction and self-esteem are also likely to support the market growth.
Then again, the increasing trend of men grooming products has also created a buzz in the cosmetic preservatives industry. Men's grooming encompasses a wide range of products, including hair, skin, and shaving. Rapid advancements and breakthroughs in numerous grooming solutions, such as hair sprays, hair smells, and beard waxes, are presenting major growth opportunities for the sector. Furthermore, personal grooming is to maintain basic hygiene and cleanliness of bodily parts. A key aspect driving the market growth is men's growing awareness of beauty.
However, strict regulatory guidelines for the usage of preservatives in cosmetic products could hamper the market from growing. To ensure that preservatives are safe to use, they must undergo extensive testing, including safety assessments and quality testing. The European Commission has an up-to-date list of safe preservatives for use in cosmetics that has been scientifically validated, and it advises national authorities on how to monitor items on the EU market.
The global cosmetic preservatives industry is segmented based on product, application, and geography.
Market By Product
In 2021, the phenol derivatives segment held a significant amount of share in the product segment. Phenol derivatives are commonly used cosmetic preservatives due to their usefulness as a non-irritating, mild cosmetic preservative that does not emit formaldehyde. Butylated hydroxytoluene (BHT), a phenol derivative, is a common FDA-approved preservative used in cosmetics to preserve food from spoiling. In tiny doses, it is safe to take. Furthermore, the rising demand for phenol derivatives in the manufacture of cosmetic products such as sunscreens, skin lighting creams and lotions, and hair coloring solutions is expected to fuel segment growth.
Market By Application
Among applications, skin & sun care is likely to attain a substantial market share in the projected years. The rising consumer preference for youthful skin, escalating demand for face creams, body lotions, and sunscreens, and flourishing e-commerce are expected to propel the demand for skin and sun care segment growth. Furthermore, rising product research and development investments, as well as the growing popularity of natural ingredient-based skincare products, have prompted manufacturers to introduce new skincare products.
Cosmetic Preservatives Market Regional Overview
Middle East & Africa
The increasing demand for natural cosmetic preservatives in Asia-Pacific boosts the regional market growth
Based on the regional segmentation, the Asia-Pacific region is anticipated to generate a noteworthy market share during the forecast period. The region's rapid growth can be attributed to rising personal cleanliness and hygiene awareness, as well as the fact that China and India have large populations that provide a large client base for personal care, cosmetics, and beauty products. On the other hand, the European cosmetic preservatives market is expected to attain the fastest growth rate throughout the forecasted years from 2022 to 2030.
Some of the top vendors offered in the professional report include Arkema Fine Chemicals, Ashland, BASF, Chemipol, Dadia Chemical Industries, DuPont de Nemours, Inc., Lonza, Salicylate and chemical Pvt Ltd., Sharon Laboratories, Symrise AG, and Thor Group Ltd.
The estimated value of Global Cosmetic Preservatives Market in 2021 was accounted to be US$ 362 Mn and market projected to reach US$ 622 Mn by 2028
The projected CAGR of Global Cosmetic Preservatives Market during the analysis period of 2021 to 2028 is 6.4%
The prominent players of the global cosmetic preservatives market involve Arkema Fine Chemicals, Ashland, BASF, Chemipol, Dadia Chemical Industries, DuPont de Nemours, Inc., Lonza, Salicylate and chemical Pvt Ltd., Sharon Laboratories, Symrise AG, and Thor Group Ltd.
Asia-Pacific held the dominating share for cosmetic preservatives during the analysis period of 2022 to 2030
Europe region exhibited fastest growing CAGR for cosmetic preservatives during the analysis period of 2022 to 2030
Growing demand for cosmetics, rising awareness about beauty products in emerging economies, and increasing number of working female population drives the growth of global cosmetic preservatives market
Based on product, phenol derivatives segment held the maximum share for cosmetic preservatives market in 2021