The global preservative blends market is forecasted to hit a staggering worth of $215.9 million USD by 2024, according to new research.
Several drivers are heating up the global preservatives market, including a rising demand for beauty products, coupled with an increase in disposable incomes, as well as the continued prevalence of influencer marketing.
Expanding demand around the world
Globally, disposable income rates are growing, leading more and more consumers to seek out innovative personal care and skincare products. In fact, the global beauty and personal care products market is expected to surge to a staggering $756.63 billion USD by 2026, at a CAGR of 5.81% between 2019-2026, according to Fior Markets.
This booming consumer desire for more beauty products is directly tied into the preservative blends market, as preservatives are critical for maintaining the safety and efficacy of personal care products. To start, preservatives can help prevent and control microbial action within a personal care product, by preventing mold, funghi, and bacterial growth in formulations containing water.
Additionally, preservatives help expand the shelf life of a personal care product by protecting and stabilizing active ingredients like Alpha Hydroxy Acids, vitamins, minerals, and proteins like collagen. Without preservatives, cosmetic products would quickly lose their desired texture, smell, and consistency, as well as their effectiveness.
As the global demand for skincare and personal care products spikes in tandem with disposal income levels, high-quality, multi-functional preservatives will enjoy similar, sizzling rates of growth.
Social media influence
The growing preservatives market is also linked to the incredible leverage social influencers continue to wield over their audiences.
Today’s consumer loves to buy their personal care products online, and is also highly likely to spend extensive amounts of time reading product reviews and ratings before checkout.
“Almost 50% of women surveyed prefer to research products online prior to buying them in-store, citing online reviews and ratings, as well as social media influencers, as their sources of information,” according to the Women’s Facial Skincare Consumer Report from The NPD Group.
Thanks to the sheer prevalence of influencer personal care product reviews, experts predict consumers will continue to be the most persuaded to purchase influencer recommended products in the future. And, as social-influenced purchasing spikes, so will the preservatives blend market, as preservatives are needed to protect the integrity of so many formulations.
Modern preservatives will lead the charge
Multi-functional preservative lines that are green, mild. or preservative free are the perfect solution for formulators attempting to keep up with the explosive consumer demand for beauty products.
Almost 50% of women surveyed prefer to research products online prior to buying them in-store
Modern preservative systems like the Sharon Advanced Preservatives Line are 100% free of formaldehyde donors, isothiazolinones, and feature trendy claims like natural ingredients, organic acids, while also being globally approved, heat stable, suitable for wide pH range, and offering a broad spectrum protection.
For formulators seeking out the most modern, most green preservatives to engage savvy, consumers and influencers, lines like Sharon Advanced Preservatives can offer enticing efficacy for manufacturers and purchasers alike.
