February 25, 2021

Cosmetic Preservatives Market Forecasted to Grow

Growing consumer concern about the safety of preservatives in personal care and cosmetic products has led to their increased scrutiny by regulatory bodies. According to Frost & Sullivan, the global market for personal care and cosmetics preservatives will reach $533.8 million by 2023 at a compound annual growth rate (CAGR) of 6.6% between 2018 and 2023. The demand for preservatives is anticipated to reach 125.0 kilotons by 2023, growing at a CAGR of 7.0%, attributed to the rising consumption from the personal care industry, specifically.

What are Cosmetic Preservatives?

Cosmetics preservatives are mainly used as stabilizers, antimicrobials, and antioxidants. Cosmetics preservatives are added to cosmetics for product formulation that inhibits the growth of microbes. Natural cosmetics preservatives include extracts from plants such as curry leaf, cinnamon leaf, and clove bud. Some of the commonly used synthetic preservatives such as parabens, formaldehyde releasers, isothiazolinones, phenoxyethanol, and organic acid. Synthetic-based cosmetics preservatives are more effective in controlling the development of bacteria.

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Other growth opportunities for preservatives manufacturers include:

Changing consumer preferences based on social media influence and increasing beauty consciousness among all age groups.
Innovating and developing natural preservatives that would comply with the changing consumer needs.
Developing blends with lower preservative concentrations and broad spectrum of microbial coverage to offer significant growth opportunities.
Producing phenols and alcohols, which are the most used preservatives because of their rising demand across all application areas.
Offering e-Commerce as a highly viable entry route for Western companies seeking to enter emerging markets like Asia-Pacific, the Middle East and Africa.
Including branded, multi-functional ingredients that are overtaking commoditized materials.

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