August 25, 2020
According to the research report titled ‘Asia Pacific Cosmetic Preservatives Market Size By Product, By preservative booster, By Application , Industry Analysis Report, Regional Outlook, Application Potential, Price Trends, Competitive Market Share & Forecast, 2020 – 2026’, available with Market Study Report LLC, Asia-Pacific cosmetic preservatives market is expected to register unprecedented growth during 2020-2026.
Increasing awareness pertaining to maintaining hygiene and appearance is a major factor augmenting the growth of cosmetic preservatives in Asia-Pacific. Various preservatives are used in cosmetics in order to prevent product damage caused by microorganisms. It also helps in protecting the product from any contamination during usage.
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Based on product type, the report cites that formaldehyde releasers segment currently holds 17.5% market share and is predicted to showcase similar growth during the study duration. On the other hand, phenol derivatives segment accounts for 9.7% market share, which is slated to grow continuously in the ensuing years.
As per the research analysis, QAC (Quaternary Ammonium Compounds) segment is expected to grow with a CAGR of 13.2% between 2020 and 2026, primarily driven by increasing utilization of preservatives in colors, conditioners and hair dyes.
Moving on to usage, the caprylyl glycol segment is reckoned to record a 3.7% CAGR through 2026, primarily due to high adoption rates of the product in various cosmetics and personal care products. Alternatively, the glyceryl caprylate segment is slated to grow with a CAGR of 4.2% during the forecast period.
In terms of application landscape, the baby products segment is poised to witness 3.5% CAGR, while the others segment is predicted to expand with a CAGR of 4% during 2020-2026.
Regionally, although Australia accounts for 4.2% market share, New Zealand cosmetic preservatives industry is expected to register 5.2% CAGR between 2020 and 2026, primarily attributed to increasing working women population.
Brenntag AG, Expo Essential Oils, Forbes Pharmaceuticals, Penta Manufacturing Co., Indian Spice Oil Industries, Dadia Chemical Industries, Charkit Chemical Company LLC, Hefei TNJ Chemical Industry Co. Ltd., Beijing LYS Chemicals Co. Ltd., Evonik Industries AG, MINASOLVE (Minafin Group), Vantage Co., Sabinsa Corp., Celanese Corporation, IBR Limited, Synthite Industries Private Ltd., Royal DSM, Tagra Biotechnologies, Frutarom Industries Limited, Firmenich S.A., Lanxess AG, International Flavours & Fragrances Inc. (IFF), Stepan Company, Merck KGaA, Schülke & Mayr GmbH, Symrise AG, Gujarat Organics Limited, Sharon Laboratories Ltd., Coralim Aditivos S.L., Clariant AG, Chemipol (Kothari Group of Industries), BASF SE, The Dow Chemical Company, Akema Fine Chemicals, Lonza Group, and Ashland Global Specialty Chemicals Inc. are the key participants in Asia-Pacific cosmetic preservatives industry.