Preservative Blends Market to Reach US$215.9 mn Due to Premium Beauty Products’ Demand by 2024

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Global Preservative Blends Market: Snapshot

The global market for preservative blends is anticipated to rise significantly over the next few years, thanks to the upswing in their demand from a number of application areas, especially beauty care, home care, and personal care. The increasing demand for premium personal care products, boosted by the change in the lifestyle of consumers due to their rising disposable income, is likely to have a positive impact on this market in the years to come.

However, the increasing implementation of stringent government rules and regulation regarding the usage of these preservatives, considering various side-effects of chemical preservatives and the disorders and infections caused by them may restrict the market from growing steadily in the near future.

The global preservative blends market offered an opportunity worth US$133.5 mn in 2015. Progressing at a CAGR of 5.60% between 2016 and 2024, the market is estimated to reach US$215.9 mn by the end of 2024.

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Asia Pacific to Continue as Dominant Regional Market

The worldwide market for preservative blends stretches across Europe, Asia Pacific, the Middle East and Africa, North America, and Latin America. With a share of more than 35%, Asia Pacific held the dominant position in this market in 2015. The Rising population and the increasing awareness level of consumers regarding personal care and beauty products led the demand for preservative blends in this region. Over the forthcoming years, the Asia Pacific preservative blends market is likely to retain its dominance, thanks to the swelling demand for these preservatives in the beauty, home, and personal care applications.

On the other hand, North America and Europe are projected to exhibit a stable rise in their respective markets for preservative blends in the years to come. However, as the markets in Latin America and the Middle East and Africa are growing exponentially, they are likely to be proved as most profitable markets for producers in the near future.

In the Middle East and Africa, the GCC countries are expected to surface as the key contributor to this market on account of the presence of well-established manufacturers.

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Demand from Personal Care Application Segment to Remain High

Preservative blends are most prominently applied in beauty care, home care, and personal care products. Among these, the demand for these preservatives from personal care products is greater than others.

With the rise in awareness among consumers regarding personal health and hygiene, coupled with the increase in purchasing power, the application of these preservatives in personal care products is expected to remain high over the forthcoming years.

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