Cosmetics Preservative Market to grow 8.5% CAGR till 2024 | Top Key Players are BASF, Clariant, Symrise Ag, Ashland, Lonza, The Dow Chemical Company

The rising demand for cosmetics pertaining to the ongoing trend of image consciousness has brought a major change in cosmetics preservative market dynamics. Being a mixture of various peptides, oils, carbohydrates and water, cosmetics can prove to be a convenient breeding ground for bacteria and fungi which if left unabetted can necessarily alter the formulation of the product, generating the need for preservatives. Skincare, hair care, make-up, perfumes, toiletries, deodorants, and oral cosmetics are infused with preservatives to not only maintain the original quality but also to extend their shelf lives, thereby propelling cosmetics preservative industry.

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The United States is estimated to have the world’s largest cosmetics industry, though numerous other geographies, especially the economies in developed countries are now catching up with the likes of the U.S. One of the principal reasons for emerging economies to attain a substantial share of cosmetics preservative market is the rising disposable incomes of consumers across these regions.

Changing trends in the beauty industry are also boosting cosmetic sales which in turn is adding momentum to the cosmetics preservative market. The cosmetics industry has greatly benefitted from social media channels such as Instagram and YouTube that have been highly influential in closing the gap between cosmetic brands and consumers and creating demand for beauty products. The effect of social media on cosmetics preservative industry trends is possibly the most evident in the success of reality TV personality Kylie Jenner who built a $900 million cosmetics empire by leveraging her 112 million followership on Instagram.

Beauty tutorials on YouTube that make beauty with the use of cosmetics easy to achieve for everyone have lent a significant to cosmetics sales as particular beauty products can be now highlighted for the specific merits that they can add to one’s beauty regime. Independent content creators and beauty vloggers have been estimated to generate 97.4% of conversations regarding beauty products and have been much more effective in selling products than conventional advertising and promotions. With the rising expansion of the cosmetics industry, cosmetics preservative market is gaining major traction as well.

Another factor driving the cosmetics preservative industry growth is the millennial generation who are attuned to rediscovering products that have been around for quite sometime but have somewhat lost their demand. One example is the Double Wear foundation by Estée Lauder that had been launched three decades ago but has recently witnessed a double-digit growth rate as the younger generation has rediscovered its usability. The generation is also driven by the trend of presenting oneself to be as appealing as possible on social media, aiding the sales of skin care products like masks.

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SMBs with lesser capital have been attempting to make it big in cosmetics preservative industry through tie ups with vloggers and other influencers who can boost sales for their products. The independent brand Becca Cosmetics proved such a point in 2015 when it partnered with YouTube beauty personality Jaclyn Hill to create Champagne Pop, a $38 highlighter. All 25,000 units of the shimmery powder were sold within 20 minutes on Sephora.com. In 2016, Estée Lauder acquired Becca in a deal reportedly worth US$200 million. With social media and millennial trends diversifying the scope for the beauty industry, the cosmetics preservative industry is certain to accrue commendable returns ahead.

With the use of cosmetics becoming more widespread, awareness about the negative effects of continual use of synthetic products and preservatives used in cosmetics is also becoming more apparent. A growing trend in the cosmetics industry therefore, is the use of more natural preservatives. Regulatory bodies like the Food and Drug Administration of the U.S. are looking closer at the ingredients used in cosmetics in a bid to monitor cosmetic ingredients that are claimed to have drug like properties. The enforcement of stringent regulations are expected to aid manufacturers to come up with natural preservatives that are would augment the revenue graph of cosmetics preservative market in the years to come.

Cosmetic Preservatives Market, By Application
• Hair Care
• Skin Care
• Toiletries
• Fragrances and Perfume
• Baby Products

Browse key industry insights spread across 250 pages with 286 market data tables & 26 figures & charts from the report, “Cosmetics Preservative Market” in detail along with the table of contents:

https://www.gminsights.com/industry-analysis/cosmetics-preservative-market

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