Press release
Brazil cosmetic preservatives market is estimated to witness significant gains over 4% through 2026| By key players BASF, Lonza, Merck KGaA, Sharon Laboratories, Dow Chemical Company, Ashland, Arkema, Clariant AG, Symrise Ag, Schülke
There has been a rising need to extend the shelf life and create a high-quality product from cosmetic manufacturers. Furthermore, increasing sales of cosmetic products through e-Commerce platforms is anticipated to augment industry demand over the estimated timeframe. For instance, according to studies, in 2018 beauty and health products held the third position among the most-purchased categories on ecommerce platform Amazon.
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As per Global Market Insights, Inc. estimates, the LATAM cosmetic preservatives market size is expected to be valued at $130 million by 2026.
Top Key Players in The Market are:
BASF, Lonza, Merck KGaA, Sharon Laboratories, Dow Chemical Company, Ashland, Arkema, Clariant AG, Symrise Ag, Schülke, Stepan Company, International Flavours & Fragrances Inc (IFF), LANXESS, Firmenich SA, Alban Muller International, Tagra, Royal DSM, Synthite Industries Ltd
Greater consumer awareness of product benefits to drive demand
Escalating adoption of cosmetic preservatives is witnessed for various applications across the region, including fragrance & perfumes, toiletries, skin care, hair care, and baby products. The preservatives help reduce the risk of skin infections, prevent the growth of microbes, as well as preserve the nutritional quality of cosmetic products. These benefits, alongside high investments in product innovation, are making significant contributions to the growth of the LATAM cosmetic preservatives market outlook.
Robust use of phenol derivatives in cosmetics production will serve as a key trend boosting industry share
Phenol derivatives, from the synthetic cosmetic preservative product segment, are significantly used as an active ingredient to prevent the growth of microorganisms in shampoos, creams, and lotions, among other products. Consumers can maintain skin hygiene via the usage of phenol derivative-based cosmetics that prevent bad odor in these products. These factors are major contributors to propelling LATAM cosmetic derivatives market dynamics. The phenol derivatives product segment is poised to record a CAGR of nearly 5% through 2026.
With regards to the usage spectrum, the decylene glycol segment is set to register around 4.5% CAGR through 2026. Rising attributes of decylene glycol, which is utilized predominantly as a blending and active ingredient in cosmetic products, include its ability to enhance the preservatives during the cosmetic and personal care product formulation. A considerable surge in the cosmetic product adoption can be attributed to benefits of using decylene glycol. It can be effectively used to eliminate propionibacterium acnes and malassezia furfur as well as prevent pimples, which in turn, provide an opportunity to amplify the LATAM cosmetic preservatives market expansion.
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Meanwhile, the hair care application segment is anticipated to exhibit a growth rate of over 4.5% through 2026. A large amount of active nutrients and water, with favorable temperature and pH, are available in hair care products, which serves as a factor in the development and growth of this application segment.
Significant country-level expansion to create lucrative opportunities for LATAM cosmetic preservatives market growth
Greater emphasis on personal grooming, rising investment by market participants, and increasing manufacturing practices for cosmetics are gaining vast prominence in Argentina, which can add impetus to the growth of the LATAM cosmetic preservatives industry. The Argentina cosmetic preservatives industry is expected to hold a market share of nearly $10 million over 2026.
Furthermore, the industry is slated to proliferate at a rapid pace in Brazil owing to myriad benefits offered by mounting demand for cosmetics and personal care products. Based on estimates from the ABIHPEC (Brazilian Association of the Cosmetic, Toiletry and Fragrance) industry, the beauty sector in Brazil is a key contributor to the local economy, accounting for over 2% of the country’s GDP. Despite its fluctuating economic landscape, Brazil is fast emerging as a lucrative revenue pocket for the beauty industry, thereby propelling LATAM cosmetic preservatives market expansion in the region.
The competitive landscape of the LATAM cosmetic preservatives market comprises companies such as The Dow Chemical Company, Sharon Laboratories, Merck KGaA, Lonza, and BASF, among others. These firms have been focused towards the diversification of their product portfolio and the expansion of their manufacturing capabilities. For instance, Sharon laboratories unveiled its line of SharoSENSE Plus, which is a green and effective preservative solution with enhancement in hydro solubility, in April 2018.
Get More News:
https://www.globenewswire.com/news-release/2021/03/31/2202267/0/en/U-S-Minoxidil-Market-projected-to-surpass-800-million-by-2027-Says-Global-Market-Insights-Inc.html
https://www.globenewswire.com/news-release/2020/11/30/2136143/0/en/Cosmetic-Oil-Market-projected-to-exceed-7-5-billion-by-2026-Says-Global-Market-Insights-Inc.html
https://www.globenewswire.com/news-release/2020/07/22/2065521/0/en/Europe-Antimicrobial-Additives-Market-for-personal-care-application-to-exceed-800-million-by-2025-Says-Global-Market-Insights-Inc.html
About Global Market Insights
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.
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