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The growth of the cosmetic preservatives market in the Asia-Pacific is driven by growing personal grooming trends and rising expenditure on premium personal care products, says this report.
updated: Jun 7, 2020 19:00 EDT
June 7, 2020 (Newswire.com) –
According to Global Market Insights Inc., the Asia-Pacific cosmetic preservatives market is likely to exceed a valuation of nearly $685 million by 2026, registering a CAGR of 7% from 2020 to 2026. The report provides a thorough analysis of the industry size and estimations, drivers and opportunities, competitive scenario, key investment pockets, wavering market trends, and top winning strategies.
According to market analysis, the penetration of the e-commerce sector owing to the numerous benefits provided by distribution channels, including competitive pricing, product variety, and convenience is driving the cosmetics market expansion in APAC. Additionally, the easy availability of cosmetic ingredients at prices that are competitive, due to large production capacities as well as an increasing number of manufacturers, will increase the APAC cosmetic preservatives market share.
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The Asia-Pacific cosmetic preservatives market from the paraben segment is slated to grow at a 5.5% rate over the forecast timeframe. The growth is being ascribed to the fact that parabens are used to produce shaving creams, shampoos, personal lubricants, gels, topical pharmaceuticals, makeup, and creams.
Key reasons for APAC cosmetic preservatives market growth:
- Increasing demand for toiletries to keep personal hygiene during the COVID-19 pandemic.
- Growing demand for skincare products, owing to rising awareness regarding the treatment of acne and pimples.
- Rising product demand in Malaysia due to increasing personal grooming trends.
2026 forecasts anticipate the ‘skincare’ application segment showing appreciative growth:
The Asia-Pacific cosmetic preservatives market is anticipated to bring in over $265 million from the skincare application segment over the forecast timeframe. Skincare products provide protection against dirt, humid weather conditions, and UV rays, which helps keep the skin healthy and create a good overall appearance. The cosmetic preservatives are utilized to enhance the shelf life of moisturizers, lotions, and creams. Increasing demand for skincare products to improve skin appearance will positively influence market growth.
Japan’s cosmetic preservatives industry to witness appreciative growth:
The Japanese cosmetic preservatives market is projected to grow approximately more than $140 million by the end of the forecast time period. Cosmetic preservatives are used extensively in manufacturing lotions, serums, and anti-aging creams, helping companies increase the product shelf life. Moreover, rapid growth in emerging sectors like skincare sets, anti-agers, and face masks is expected to drive the product demand.
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Leading market players:
The key market players analyzed in the APAC cosmetic preservatives industry report include LANXESS, Symrise AG, Sharon Laboratories Ltd., The Dow Chemical Company, IFF, BASF, Ashland, Coralim Aditivos S.L., Clariant AG, and Lonza among many others. They have incorporated several strategies including partnership, expansion, collaboration, joint ventures, and others to heighten their stand in the industry.
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About Global Market Insights, Inc.
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider. Offering syndicated and custom research reports, growth consulting, and business intelligence services, Global Market Insights, Inc. aims to help clients with penetrative insights and actionable market data that aid in strategic decision-making.
GMIPulse, our business analytics platform, offers an online, interactive option of exploring our proprietary industry research data in an easy-to-use and dynamic manner. Clients get to explore market intelligence across 11 top-level categories and hundreds of industry segments within them, covering regional, company-level, and cross-sectional statistics that make our offering a stand-out for decision-makers.
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Source: Global Market Insights Inc.