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 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.
Key Driving Factors for the Preservative Blends Market
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 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.
Preservative Blends Market: Competition Landscape
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.
Global Preservative Blends Market: Report Description
This research study by PMR (Persistence Market Research) on the global preservative blends market provides a ten-year forecast of the market for the forecast period 2019-2029. To estimate the market value of preservative blends, we have considered FY 2018 as the base year, and market values have been determined keeping in mind the trends, driving factors, and crucial developments by key market participants. The compound annual growth rate (CAGR) for preservative blends has been derived for the period 2019 to 2029.
Raw materials utilized in the manufacturing and formulation of preservative blends are known as preservative ingredients. A combination of different preservative ingredients and processes used by different manufacturers leads to different types of preservative blends for different end uses. Preservative blends include different types of ingredients such as paraben, phenoxyethanol, benzoic acid, sodium benzoate, capryl glycol, etc.
This global preservative blends market report consists of more than 20 sections that define market numbers in terms of volume in tons and value in US$ Mn at regional and global levels. The first section of the global preservative blends market report includes the executive summary that elaborates on the trends being witnessed in the market from the demand side as well as supply side. The following section covers the global preservative blends market introduction, including market definitions of the segments considered, market taxonomy by product type, application, and region, and other information relevant to the market.
In the next section of the global preservative blends market report, we have included market viewpoints, including macroeconomic factors, forecast factors, Porter’s analysis, and value chain analysis, along with a list of distributors, manufacturers and end users, and import-export analysis of the supply-demand scenario of preservative blends.
The next section of the global preservative blends market report consists of the global industry analysis by volume and value, along with pricing analysis for North America, the Middle East & Africa, Europe, East Asia, South Asia, Oceania, and Latin America. The fifth section of the global preservative blends market report includes qualitative as well as quantitative analysis of the preservative blends market for every segment of the market.
This preservative blends market report focuses on examining the market opportunities, and getting a comprehensive understanding of the preservative blends market. The preservative blends market report elaborates on the regional analysis, market dynamics, market structure, and competition landscape of the preservative blends market for the next ten years, i.e. 2019-2029.
Each division of the preservative blends market report comprises qualitative and quantitative assessment of the market on the basis of past data or developments and facts, and key views collected from various end-use industry participants through primary discussions, annual reports, newsletters, etc. The report on the global preservative blends market studies some of the major players in the preservative blends market, such as Solvay SA, BASF SE, DowDuPont Inc., Clarient AG, Lonza, Lanxess AG, and Ashland Inc., among others.
The preliminary stage of research study includes company mapping relating to each type of preservative blend, which is necessary for getting insights about the market scenario of preservative blends. Further, product mapping for the composition of each type of preservative blend was determined through secondary research.
The next stage of the research involved counter justification of data collected done by using top-down and bottom-up methodologies. To examine the global preservative blend market trends and opportunities for preservative manufacturers, the global preservative blends market has been segmented on the basis of product type, application, and region.
For the analysis of consumption, we have considered FY 2018 as the base year. Basic data was collected from manufacturers’ annual reports, newsletters, public reports published by private agencies as well as governments, World Bank’s sources, trade map sources, by tracking preservative production activities, etc. Further, the collected data was authorised through primary research techniques that involved manufacturers, distributors, end-user procurement agencies, and regional representatives.
For the final analysis of market data, we considered the demand-side as well as supply-side drivers and trends in various regional markets. We have forecasted the market data on the basis of key developments, regional trends, and production-consumption scenario of preservative blends.