Efficacy in providing antimicrobial protection to ensure safety while using premium formulations will catalyse demand for personal care and cosmetic preservatives during the forecast period (2019-2029). Antimicrobial preservatives are gaining popularity in this industry because they protect cosmetics from unintentional contamination by consumers. Furthermore, they are resistant to infections caused by microbial growth, which supports their use in personal care and cosmetic products. Antioxidant preservatives, for example, aid in the suppression of reactions caused by oxygen, light, heat, and contaminated metals. Growing demand for men’s personal care products and rising consumption of anti-aging products are expected to drive the market at a steady CAGR of 4% during the forecast period.
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Key Takeaways of Personal Care and Cosmetic Preservatives Market:
- Alternative blends that provide resistance against a broad spectrum of microbes without comprising the performance of products will assist the market’s growth.
- Increasing preference for naturally sourced and non-animal based products will create remunerative opportunities in the market.
- Tightened legislation by governments with regard to safety has raised the development costs of formulations, thus squeezing the profit margins of personal care and cosmetic preservative manufacturers.
- Despite increased demand for bio based products, synthetic products are poised to witness high demand growth and accounted for more than three fourth of the market share in 2019
- On the basis of chemical type, phenoxyethanol has maintained its supremacy in the personal care and cosmetic preservatives market and is poised to chart an upward trajectory in the market throughout the assessment period.
The competitive landscape involved key manufacturers such as DuPont, Lonza Group Ltd, Clariant AG, Schülke & Mayr GmbH, Ashland, Akema Fine Chemicals, Lanxess AG, Zhengzhou Bainafo Bioengineering Co., Ltd., and ISCA. All these manufacturers are focussed on gaining maximum market valuation, portfolio expansion, and brand development.
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Personal Care and Cosmetic Preservatives Market: Segmentation
Fact.MR has studied the personal care and cosmetic preservatives market with detailed segmentation on the basis source, chemical type, application and key regions.
- Benzoic Acid
- Benzyl Alcohol
- Ethyl Lauroyl Arginate
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Tightening Legislations by Governments to Pave Way for Innovation
Personal care and cosmetic preservatives market is consolidated in nature in which, DuPont, Lonza Group Ltd, Clariant AG, Schülke & Mayr GmbH, Ashland, Akema Fine Chemicals and Lanxess AG accounted for over one third of the market share in 2018. With tightening legislations on chemicals used in cosmetic products, prominent companies have launched range of natural products to meet the global demand for personal care and cosmetic preservatives. For instance, Dow and Lanxess has expanded their product portfolio to align with the government norms and to maintain their sales during the forecast period.
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