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Preservative Blends Market Segmented By Parabens, Alcohols, Formaldehyde Donors, Organic Acids, Salts of Organic Acids Product Type in Cosmetics and Personal Care, Hair Care, Body Care, Oral Care, Food and Feed, Home Care
The global preservative blends market is expected to be valued at US$ 167.9 Mn in 2019, and is projected to grow at a 5.6% CAGR over 2019–2029. On the basis of consumption, East Asia and South Asia Pacific are estimated to record high value and volume growth in the preservative blends market during the forecast period.
The markets in Europe and North America are estimated to experience moderate growth in the preservative blends market. Significant growth of important industries such as cosmetics & personal care, food & feed, and home care, among others, in countries such as China and India, is the primary driving factor propelling the growth of the preservative blends market. This is due to the increasing population and growing preference towards the use of hair care, body care, beauty care, and medical skin care products.
Furthermore, ease in formulation and enhancing the shelf life of products are resulting in manufacturers expanding their manufacturing facilities in these regions, which, in turn, is expected to drive the demand for preservative blends.
Rising consumption of cosmetics & personal care products is expected to create substantial demand for preservative blends, owing to the rising consumer awareness towards hygiene and grooming. Moreover, increasing working population and limitation of time are resulting in the increased demand for packed food products, leading to the increased demand for preservative blends from food manufacturing industries.
The demand for preservative blends is expected to increase as a result of rapid urbanization, growing middle-class population, and increasing sustainability. With surging economic prosperity and rising purchasing power, consumers have started using products that were earlier unaffordable to them.
This has resulted in the increased demand for consumer products such as personal care products, cosmetics, toiletries, etc. Steady growth of end-user industries is expected to drive the demand for preservative blends over the forecast period.
Prominence in cosmetics & personal care applications
Preservative blends are an important constituent in the cosmetics & personal care industry for preservation from microorganisms. Being used in several applications as a preservative in order to increase the quality and shelf life of products, preservative blends serve as a crucial solution for the cosmetics & beauty care industry.
Preservative blends are also used in hair care, body care, and oral care product formulations, including various products such as mouthwashes, lotions, and other personal care products. Moreover, preservative blends are also used in several baby personal care products such as soaps, shampoos, and oils, due to easy formulation and the nourishing nature on sensitive skin.
The rising inclination towards using sensitive products for baby health care products is further powering the demand for preservative blends. Extensive growth is also being observed in men’s care product lines, which is leading to a rise in the growth of the preservative blends market. Preservative blends are widely uses in such applications, and this is projected to remain driven in the coming years.
The growth of the consumer market in developing regions is expected to result in driving the raw material markets, such as the market for preservative blends for cosmetic and personal care products.
Home care products driving the market of preservation blends
Rising awareness about hygiene and sanitation among people has led the significant increase in the demand for home care products. In addition, the increasing popularity of preservative blends in the production of toiletries and home care solutions is likely to accelerate the market growth of preservative blends, due to their rising consumption in manufacturing processes.
The global preservative blends market is a moderately fragmented market, due to the presence of unorganized local manufacturers. The uncertainties in raw material prices for preservative blends have been observed in developed and developing regions.
Increasing regulations pertaining to toxin-free preservatives such as parabens and formaldehyde-free blends act as a restraining factor in the market of preservative blends.
Some of the key market participants operating in the global preservative blends market include BASF SE, Dow DuPont Inc., Lanxess, Lonza, and Clariant AG, among others. Several key players are maintaining strategic focus on the East and South Asia markets, due to increasing industrial activities and technological advancements in these regions.