According to the latest research published by Global Market Insights Inc., cosmetic preservatives market value is anticipated to hit USD 1.65 billion by 2028.
In November 2021, Israel-based cosmetic preservatives market player Synergio rolled out its BiomEco 94 ingredient. The preservative was particularly formulated for the protection of shelf life and safety of personal care products. The company is centered on the creation of plant extracts for anti-microbial and preservation purposes in the personal care industry.
Over the recent years, several cosmetic preservatives industry contenders have been recorded to adopt similar initiatives for securing a strong competitive edge. Many of them are also focusing on the implementation of strategic initiatives such as acquisitions, mergers, and partnership agreements.
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DuPont de Nemours, Lonza, Symrise AG, Arkema fine chemicals, Salicylate, Thor Group Ltd, Dadia Chemical Industries, Sharon Laboratories, Chemipol, BASF, and others are some of the major players operational in the global industry.
Mentioned below are a few key trends that are set to impel revenue growth across various regions:
1# Growing capacity expansion initiatives in North America
The market share in North America is expected to record substantial growth through 2028. This rise can be credited to an increase in capacity expansion steps by major cosmetic preservative manufacturers.
For instance, in September 2021, Sharon Laboratories disclosed the first phase of its corporate footprint in the North American region. The move complemented the company’s organic growth strategy, representing its objective of being closer to major regions. Such initiatives are slated to propel regional expansion over the forecast period.
2# Favorable regulatory policies in Europe
Europe cosmetic preservatives market value exceeded USD 385 million in 2021 and is expected to record a CAGR of 8% between 2022 and 2028. This upsurge is on account of an increase in the formulation of favorable regulatory policies in the region.
Citing an instance, in October 2021, the European Commission endorsed new EU Ecolabel criteria for animal-care and cosmetic products. The criteria provide EU consumers the advantage of trusted proof for genuine green brands.
Furthermore, the Ecolabel is a third party verified and a reliable label of environmental excellence. It considers the environmental effect of a product throughout its complete life-cycle, beginning from raw materials extraction to final disposal.
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3# Rising number of research studies
The industry has registered an increase in research activities for securing an overview about the feasibility of deploying various products. One such study was aimed at analyzing the effect of eleven commonly found cosmetic preservatives on Staphylococcus aureus, Staphylococcus epidermis, and Propionibacterium acnes in vitro. The research made use of culture-dependent methods and 3D skin models.
The findings revealed three combinations as the best suitable for the restoration of a pre-existing dysbiosis. These combinations acted strongly inhibiting S. aureus and moderately inhibiting C. acnes without the simultaneous growth inhibition of S. epidermidis.
To sum up, the industry is expected to record a surging demand for different types of synthetic and natural preservatives over the forthcoming years. The products help in preserving the action of natural ingredients in cosmetics, enabling protection against an extensive range of fungi, yeast, molds, microbes, and bacteria. Such aspects are poised to provide access to a host of business growth opportunities across the cosmetic preservatives market.
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