Global Cosmetic Preservatives Market 2019-2023
Global Cosmetic Preservatives Market: About this market
Cosmetic preservatives can be defined as natural or synthetic ingredients that are used in the formulation of any cosmetic product to prevent product damage caused by microbial growth and increase the shelf life and product stability. Technavio’s cosmetic preservatives market analysis considers sales from both natural preservatives and synthetic preservatives. Our analysis also considers the sales of cosmetic preservatives in Asia, Europe, North America, and ROW. In 2018, the synthetic preservatives segment had a significant market share, and this trend is expected to continue over the forecast period. Factors such as the early market penetration and easy availability of synthetic preservatives will play a significant role in the synthetic preservatives segment to maintain its market position. Also, our global cosmetic preservatives market report looks at factors such as growing demand for multifunctional cosmetic products, an increasing number of product launches, increasing the use of cosmeceuticals. However, limitations of natural preservatives used in cosmetic products, the high cost of cosmetic skincare products, and stringent regulatory policies may hamper the growth of the cosmetic preservatives industry over the forecast period.
Global Cosmetic Preservatives Market: Overview
Increasing use of cosmeceuticals
The adoption of skincare cosmeceutical products is increasing among consumers because these products have pharmacological benefits in them. These products contain cosmetic preservatives or ingredients such as vitamins, minerals, antioxidants, and growth factors. The increase in manufacturing of cosmeceuticals will lead to the expansion of the global cosmetic preservatives market at a CAGR of over 6% during the forecast period.
Adoption of advanced technologies in manufacturing processes
Manufacturers are increasingly using advanced technologies such as silicone-based vesicles and matrices in the manufacturing process of cosmetics. The implementation of these technologies improves the efficiency of the manufacturing process and enhances the quality of preservatives. This is expected to have a positive impact on the overall market growth.
For the detailed list of factors that will drive the global cosmetic preservatives market during the forecast period 2019-2023, click here.
With the presence of a few major players, the global cosmetic preservatives market is concentrated. Technavio’s robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading cosmetic preservatives manufacturers, that include Ashland Global Holdings Inc., BASF SE, Clariant International Ltd., Dow Inc., and Lonza Group Ltd.
Also, the cosmetic preservatives market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage on all forthcoming growth opportunities.
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