LATAM Cosmetic Preservatives Market Size, Forecasts, Emerging Trends, and Competitive Landscape 2020-2026

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Dec 29, 2020 (Market Insight Reports) —

LATAM cosmetic preservatives market is projected to showcase significant growth from 2020 to 2026. Escalating adoption of cosmetic preservatives is witnessed for various applications across the region, including fragrance & perfumes, toiletries, skincare, haircare, and baby products. The preservatives help reduce the risk of skin infections, prevent the growth of microbes, as well as preserve the nutritional quality of cosmetic products. These benefits, alongside high investments in product innovation, are making significant contributions to the growth of the LATAM cosmetic preservatives market outlook.

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Robust use of phenol derivatives in cosmetics production will serve as a key trend boosting industry share

Phenol derivatives, from the synthetic cosmetic preservative product segment, are significantly used as an active ingredient to prevent the growth of microorganisms in shampoos, creams, and lotions, among other products. Consumers can maintain skin hygiene via the usage of phenol derivative-based cosmetics that prevent bad odor in these products. These factors are major contributors to propelling LATAM cosmetic derivatives market dynamics. The phenol derivatives product segment is poised to record a CAGR of nearly 5% through 2026.

With regards to the usage spectrum, the decylene glycol segment is set to register around 4.5% CAGR through 2026. Rising attributes of decylene glycol, which is utilized predominantly as a blending and active ingredient in cosmetic products, include its ability to enhance the preservatives during the cosmetic and personal care product formulation. A considerable surge in the cosmetic product adoption can be attributed to benefits of using decylene glycol. It can be effectively used to eliminate propionibacterium acnes and malassezia furfur as well as prevent pimples, which in turn, provide an opportunity to amplify the LATAM cosmetic preservatives market expansion.

Meanwhile, the hair care application segment is anticipated to exhibit a growth rate of over 4.5% through 2026. A large amount of active nutrients and water, with favorable temperature and pH, are available in hair care products, which serves as a factor in the development and growth of this application segment.

Significant country-level expansion to create lucrative opportunities for LATAM cosmetic preservatives market growth

Greater emphasis on personal grooming, rising investment by market participants, and increasing manufacturing practices for cosmetics are gaining vast prominence in Argentina, which can add impetus to the growth of the LATAM cosmetic preservatives industry. The Argentina cosmetic preservatives industry is expected to hold a market share of nearly $10 million over 2026.

Furthermore, the industry is slated to proliferate at a rapid pace in Brazil owing to myriad benefits offered by mounting demand for cosmetics and personal care products. Based on estimates from the ABIHPEC (Brazilian Association of the Cosmetic, Toiletry and Fragrance) industry, the beauty sector in Brazil is a key contributor to the local economy, accounting for over 2% of the country’s GDP. Despite its fluctuating economic landscape, Brazil is fast emerging as a lucrative revenue pocket for the beauty industry, thereby propelling LATAM cosmetic preservatives market expansion in the region.

The competitive landscape of the LATAM cosmetic preservatives market comprises companies such as The Dow Chemical Company, Sharon Laboratories, Merck KGaA, Lonza, and BASF, among others. These firms have been focused towards the diversification of their product portfolio and the expansion of their manufacturing capabilities. For instance, Sharon laboratories unveiled its line of SharoSENSE Plus, which is a green and effective preservative solution with enhancement in hydro solubility, in April 2018.

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The MarketWatch News Department was not involved in the creation of this content.