Press release
Paraben Market Sales Revenue to Touch $164.8 Million by 2031 | Major Companies, Strategies and New Trends
Further, parabens are approved for usage by government agencies globally, including the U.S., the European Union, Australia, Japan, and Canada. Safe ranges for the usage of paraben preservatives have been made in these nations. Further, the U.S. Food and Drug Administration (FDA) has also classified propylparaben and methylparaben as "Generally Regarded As Safe" (GRAS) by medical and toxicological experts for use in preserving food.
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Increase in applications of parabens in various industries, such as pharmaceutical, food & beverages, and others is predicted to drive the parabens market growth. In addition, rise in demand from personal care & cosmetics industry is expected to boost the parabens market growth during the forecast period. However, adverse effects of parabens such as skin irritation and reproductive difficulties are projected to restrain the market expansion. Nevertheless, rise in demand for processed food is anticipated to offer lucrative growth opportunities for the parabens market.
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COVID-19 Analysis:
The COVID-19 pandemic had moderate impact on the parabens industry. It also had an influence on the import and export of chemicals, such as parabens. During the pandemic, the purchase and consumption of cosmetics & personal care products sales decreased and thereby negatively impacted the parabens market, as the cosmetics & personal care industry is the major end-user of parabens.
However, the demand for parabens as food preservatives has grown during the pandemic due to its antibacterial properties. The antioxidant capacities of food preservatives are required by the food industry to extend product shelf life and prevent hazardous microbial activity. The rising demand for convenience and processed food incorporating antioxidant capabilities is propelling manufacturers to use food preservatives, such as parabens to enhance the shelf life of food products.
Key Benefits For Stakeholders:
► This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the paraben market analysis from 2021 to 2031 to identify the prevailing paraben market opportunities.
► The market research is offered along with information related to key drivers, restraints, and opportunities.
► Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
► In-depth analysis of the paraben market segmentation assists to determine the prevailing market opportunities.
► Major countries in each region are mapped according to their revenue contribution to the global market.
► Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
► The report includes the analysis of the regional as well as global paraben market trends, key players, market segments, application areas, and market growth strategies.
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Key Market Players:
► Central Drug House (P) Ltd
► ChemPoint
► Croda International Plc
► DuPont
► Hexon Laboratories Private Limited
► Jiangsu Huanxin High-Tech Materials Co. Ltd
► Johnson & Johnson Consumer Inc
► Nu Skin International Inc
► Shandong Ailitong New Material Co. Ltd
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