Source: digitaljournal, gminsights, Internet
According to the report by Global Market Insights Inc., the Asia-Pacific cosmetic preservatives market is going to exceed 85 million by 2026, as 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 the report by Global Market Insights Inc., the Asia-Pacific cosmetic preservatives market is going to exceed 85 million by 2026, as 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.
Preservatives application in cosmetics is used to prevent microbial product deterioration during product formulation, storage, transport and utilization. Moreover, protection against contamination support the adoption of preservatives. Ability to protect against degradation caused by exposure to oxygen is likely to proper the APAC cosmetic preservatives market expansion.
Strict regulations by South Korea’s Ministry of Food and Drug Safety regarding utilization of synthetic based cosmetic preservatives. Preservatives including methylisothiazolinone, dimethyloxazolidine, p-chloro-m-cresol and chlorophene are restricted to allowable levels. Thus, these factors may hinder the overall Asia Pacific cosmetic preservatives market growth.
However, companies are investing in new technological developments and production capacity expansions to enhance their product portfolio. For instance, For instance, Lipoid Kosmetik recently launched an innovative hydrophilic cosmetic active ingredients ‘Natipide Eco’ based on natural raw materials.
Lipoid has also developed Vngr extracts which is widely useful in treatment of hair roughness. The highly effective cosmetic preservative exhibits outstanding effectiveness even in neutral pH ranges.
Coronavirus spread has led to shutdown of offices and marketplaces. Widespread store closures and no e commerce deliveries of cosmetic products have led to declining sales. Majority of the global population staying at home has led to reduced cosmetics utilization which will hinder personal care industry, thereby reducing preservatives demand. However, the manufacturers are utilizing their facilities to produce hand sanitizers and cleaning agents which may support the Asia Pacific cosmetic preservatives market growth.
Strict regulations by South Korea’s Ministry of Food and Drug Safety regarding utilization of synthetic based cosmetic preservatives. Preservatives including methylisothiazolinone, dimethyloxazolidine, p-chloro-m-cresol and chlorophene are restricted to allowable levels. Thus, these factors may hinder the overall Asia Pacific cosmetic preservatives market growth.
However, companies are investing in new technological developments and production capacity expansions to enhance their product portfolio. For instance, For instance, Lipoid Kosmetik recently launched an innovative hydrophilic cosmetic active ingredients ‘Natipide Eco’ based on natural raw materials.
Lipoid has also developed Vngr extracts which is widely useful in treatment of hair roughness. The highly effective cosmetic preservative exhibits outstanding effectiveness even in neutral pH ranges.
Coronavirus spread has led to shutdown of offices and marketplaces. Widespread store closures and no e commerce deliveries of cosmetic products have led to declining sales. Majority of the global population staying at home has led to reduced cosmetics utilization which will hinder personal care industry, thereby reducing preservatives demand. However, the manufacturers are utilizing their facilities to produce hand sanitizers and cleaning agents which may support the Asia Pacific cosmetic preservatives market growth.
APAC organic acid cosmetic preservatives segment is estimated to witness significant gains over 5% through 2026. Organic acids are widely used in preparing cosmetic preservatives for various anti-aging solutions owing to its dual characteristics of preservative and skin toner. Cosmetics enriched with organic acids help in improving the skin texture by triggering the production of healthy skin cells. Furthermore, its antioxidant rich nature aids in binding cosmetic ingredients, increasing shelf life and protein which is likely to boost the APAC cosmetic preservatives market demand.
Increasing demand for high quality cleansers, make up removers, and cleaning serums is likely to boost product demand. Levulinic acid is widely used in manufacturing foaming and non-foaming cleansers owing to its astringent and skin tightening properties. It is also used as a natural preservative as it aids in protecting cosmetic solutions from fungal and bacterial contaminations. Furthermore, rapid shift towards natural ingredients and increasing awareness on additives in cosmetic solutions is likely to boost the Asia Pacific cosmetic preservatives market demand.
Increasing demand for high quality cleansers, make up removers, and cleaning serums is likely to boost product demand. Levulinic acid is widely used in manufacturing foaming and non-foaming cleansers owing to its astringent and skin tightening properties. It is also used as a natural preservative as it aids in protecting cosmetic solutions from fungal and bacterial contaminations. Furthermore, rapid shift towards natural ingredients and increasing awareness on additives in cosmetic solutions is likely to boost the Asia Pacific cosmetic preservatives market demand.
Hair care applications is anticipated to reach over USD 155 million by 2026. Increasing demand for high quality cosmetic preservatives solutions that protect & nourish hair along with increase shelf of products is likely to boost the Asia Pacific cosmetic preservatives market demand. Industry players are rapidly introducing chemical free, organic, and no paraben shampoo solutions that utilize natural preservatives. Furthermore, this also helps industry players to effectively market their product using taglines including natural and sustainable.
For instance, In June 2016, L’Oreal launched its latest hair care products range named Garnier Ultra Blends for the Indian market. This product range includes shampoo, conditioners and oil & cream which are made from natural ingredients. This will have a positive impact on the APAC cosmetic preservatives market revenue.
For instance, In June 2016, L’Oreal launched its latest hair care products range named Garnier Ultra Blends for the Indian market. This product range includes shampoo, conditioners and oil & cream which are made from natural ingredients. This will have a positive impact on the APAC cosmetic preservatives market revenue.
South Korea is estimated to witness significant gains over 5% through 2026. South Korean cosmetics business revenue is likely to witness strong gains owing to fostering the domestic APAC cosmetic preservatives market demand. This is further anticipated to increase owing to rising R & D activities, imports and foreign players participation in the region.
K-Beauty industry is the world’s eighth largest market. Rising cosmeceuticals demand owing to therapeutic benefits imparted by presence of traditional Korean herbs and extracts. These products offers moisturization, skin imperfections treatment, sun protection and reducing inflammation.
Industry players are rapidly investing in South Korean market in an attempt to gain brand recognition & broaden consumer base. For instance, In July 2019, Parfums Givenchy owned by LVMH opened its first beauty store at the Hyundai department store in Seoul, South Korea. In August 2019, Kolmask Korea acquired Jayjun Cosmetics plants in Incheon to boost face masks production. Therefore, these aforementioned factors should boost the APAC cosmetic preservatives market.
K-Beauty industry is the world’s eighth largest market. Rising cosmeceuticals demand owing to therapeutic benefits imparted by presence of traditional Korean herbs and extracts. These products offers moisturization, skin imperfections treatment, sun protection and reducing inflammation.
Industry players are rapidly investing in South Korean market in an attempt to gain brand recognition & broaden consumer base. For instance, In July 2019, Parfums Givenchy owned by LVMH opened its first beauty store at the Hyundai department store in Seoul, South Korea. In August 2019, Kolmask Korea acquired Jayjun Cosmetics plants in Incheon to boost face masks production. Therefore, these aforementioned factors should boost the APAC cosmetic preservatives market.
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