Phenoxyethanol Preservatives Market Report Business Scenario And Future Growth Analysis - Coherent Market Insights

Phenoxyethanol is a preservative used in cosmetics and personal care products. It is normally used in combination with other preservatives, as its activity is weak against mold and yeast. Phenoxyethanol is a colorless, clear and oily liquid produced by a reaction between phenol and ethylene oxide at high temperature and pressure. Phenoxyethanol preservatives are aromatic in nature and possess important valuable properties. Chemically, phenoxyethanol is known as a glycol ether or a solvent. It is used in many applications, such as pharmaceuticals, cosmetics, and vaccines as a preservative. It is listed as a vaccine ingredient in the European Union, the United States, and Japan.

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The growth of the cosmetics industry and the increasing demand for cosmetics and personal care products in countries such as China and India are expected to increase the demand for phenoxyethanol preservatives. They are popular as they have a wide spectrum of antimicrobial activity and are less toxic. Moreover, some regulatory bodies such as the United States Food and Drug Administration (FDA) have limited the product use up to 1% w/w concentration in cosmetics due to product toxicity. Similar regulations have been made in Japan and the European Union. Thus, such government regulations and the availability of substitutes are expected to hamper the market growth.

Moreover, the increase in disposable income and growth in the e-commerce sector are the major factors driving the demand for cosmetics and personal care products in developing countries. In terms of geography, the phenoxyethanol preservatives market splits into North America, South America, Asia Pacific, Europe, the Middle East, and Africa. With their increasing use in detergents and cosmetics, the demand for phenoxyethanol preservatives has increased significantly in the Asia Pacific. APAC is expected to hold about 45% of the overall market by 2020. Europe is also expected to witness substantial growth in the phenoxyethanol preservatives market. Countries such as Germany, Italy, and France have leading cosmetics manufacturing companies, such as Unilever and Revlon, which are using phenoxyethanol preservatives in limited concentrations after being approved by the European Council.

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Key players operating in the market are adopting organic growth tactics such as product line and range expansion. They are also focused on launching new products to meet the increasing demand as well as to strengthen their market presence. For instance, in 2018, Dow Microbial Control launched two new product lines, NEOLONE PH and NEOLONE Bio, within its personal care preservatives portfolio. According to the company, both product lines are safe and more efficient.

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