Preservatives for Skin Care Products Market to Grow at 6.3% During 2021-2027

Preservatives for Skin Care Products Market to Grow at 6.3% During 2021-2027

Rising demand for natural ingredients, and long shelf life offered by preservatives promises to drive strong growth for players in the preservative for skin care products market. The demand will also receive a major boost, due to favourable policies in regions known to be stringent for their regulatory frameworks like the EU. Recent developments in premium cosmetics have pushed companies to develop more sophisticated preservatives, and integrate digital tools to engage consumers in a completely new avatar. The rising consumer awareness, and growing demand for inclusion of preservatives remain a key driver of growth, along with synthetic, and natural preservatives. The new products in preservatives also promise new-age benefits like refreshment while engaging in skincare, and longer life span for manufacturers, and personalized cosmetic finishes for consumers. The growing demand for natural preservatives will remain a key driver of growth in the preservatives for skin care products market during the 2021-2027 period.

Demand for Antioxidants, Organic Acids, Herbal Extracts to Remain Highest

The preservatives for skin care products market is segmented into natural, and synthetic products. Among the available products, the antioxidants, herbal extracts, organic acids, and natural oil are expected register highest growth, thanks to rise in demand for anti-fungal, and anti-bacterial activity. The cost-effectiveness of natural products due to their ability to prolong shelf life, and increased advancements in oils like neem, thyme, rosemary, orange, clove, and lavender promises robust growth. The players in the preservatives for skin care products continue to engage in high levels of innovation, thanks to consumer demand for natural ingredients.

Notable Developments in the Preservatives for Skin Care Products Market

  • In March 2020, the brand Clariant launched ‘Velsan Flex’, a preservative with 93% renewable carbon index. The technology used in this product is ideal for combination with a wide range of preservatives. The technology is also said to enable over 50% reductions in typical preservative, while providing safe antimicrobial cosmetics protection.
  • According to recent consumer surveys, over 69% consumers in the MEA region report concerns over use of synthetic material in preservatives in baby products. Moreover, the Covid-19 pandemic has heightened the worries among parents about synthetic preservatives in skin care products. The study reports that more consumers are looking for natural skin care options in baby products, as demand for conventional products like halal-based, Ayurveda-based gains traction, and digital media drives more product awareness among consumers.

The global cosmetic preservatives market reached USD 352.3 million in 2020, and will likely grow at 6.3% during 2021-2027 period. The rising demand for natural-ingredient based cosmetics, and growing efficacy of influencer-based low-cost marketing remains a major driver of growth. The large penetration of digitalization, and smartphones has opened up new opportunities for marketing, as global markets have opened up for small players unlike ever before. The rising digitalization has also pushed large players like L’Oréal to engage in digital influencing marketing strategies to open up new opportunities for growth for players in the preservatives for skin care products market.

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