Demand for cosmetics and personal care preservatives is on the rise, says Frost & Sullivan data
“Increasing demand for natural skincare and personal hygiene products has resulted in new research opportunities for organic and natural preservatives,” says Raghu Tantry, Principal Consultant in the Chemicals and Materials division at Frost & Sullivan, in a recent press release circulated by the firm.
He goes on to emphasize that “the use of such [natural] ingredients raises the risk of microbial contamination, [and that] manufacturers are [therefore] developing natural preservatives that can be suitably combined with the active ingredients found in most cosmetics.”
Calculating the cosmetics and personal care preservatives market potential
According to a new Frost & Sullivan report, Growth Opportunities for the Global Personal Care and Cosmetic Preservatives Market, Forecast to 2023; the cosmetics and personal care preservatives market globally has and will continue to grow by 6.6% annually for the 5 year period ending in 2023. By then the firm projects that the global market will amount to $533.8m or 125.0 kilotons for beauty and hygiene formulation preservatives.
While Frost & Sullivan data shows that the European market will grow at the fastest rate over this period, North America will continue to hold the largest market share; or rather 51.1% of “major unit shipment share % of the global personal care and cosmetic preservatives market,” as the Frost & Sullivan press release puts it.
Developing new natural and organic preservatives for the beauty industry
Skin care is the leading category in the consumer market place, and, it turns out, in the natural preservatives market as well: “The interest for personal care and cosmetic preservatives was highest from the skincare segment, followed by medicated skincare and hygiene care products,” says Tantry in his remarks to the press.
“Rising demand,” he says, “for natural preservatives for baby care applications is anticipated to further boost the preservatives market towards growth.”
Where ingredient makers have opportunities here, according to the market research and consulting firm, are in the following areas (taken verbatim from the firm’s press release):
Innovating and developing natural preservatives that would comply with the changing consumer needs.
Developing blends with lower preservative concentrations and broad spectrum of microbial coverage to offer significant growth opportunities.
Producing phenols and alcohols, which are the most used preservatives because of their rising demand across all application areas.
Including branded, multi-functional ingredients that are overtaking commoditized materials.
Additionally, the Frost & Sullivan report point to opportunities in the digital space. Most notably, the firm see opportunity for preservative manufacturers in social media though “changing consumer preferences based on social media influence and increasing beauty consciousness among all age groups.”
And ecommerce shows great potential as well for ingredient makers, especially when it comes to expanding business into new markets: “Offering ecommerce as a highly viable entry route for Western companies seeking to enter emerging markets like Asia-Pacific, the Middle East and Africa.”
To learn more about the Frost & Sullivan Frost & Sullivan report, Growth Opportunities for the Global Personal Care and Cosmetic Preservatives Market, Forecast to 2023 report click here.
Deanna Utroske specializes in beauty ingredient innovation and has been covering the cosmetics and personal care industry’s shift to naturals for years now. She is very much a leading voice in the B2B beauty industry as well as in the indie brand space. As Editor of CosmeticsDesign.com, she writes daily news about the business of beauty in the Americas region and regularly produces video interviews with cosmetics, fragrance, personal care, and packaging experts as well as with indie brand founders.
Deanna will be traveling next to the Personal Care Product Council’s annual meeting; if you’ll be there too and have beauty business news to share, feel free to contact her at email@example.com