New Jersey, NJ, Sept. 30, 2019 (GLOBE NEWSWIRE) -- The importance of antimicrobial ingredients in extending the shelf life of cosmetic products is a key factor driving the growth and adoption of these products. Manufacturers of personal care and cosmetic products are in collaboration with leading scientific research organizations for inventing safe products and lowering the adverse properties of existing natural ingredients. The global antimicrobial ingredients market is expected to grow from USD 7.82 Billion in 2017 to USD 10.72 Billion by 2025, at a CAGR of 4.11% during the forecast period 2018-2025, according to the new report published by Fior Markets.
Antimicrobial ingredients play a key role in providing safety in the cosmetics industry. These ingredients are widely used for their role in enhancing the products safety in terms of usage and manufacturing. Antimicrobial products kill or slow the spread of microorganisms. Microorganisms include bacteria, viruses, protozoans, and fungi such as mold and mildew. In addition to this, the role of antimicrobial ingredients is increasing the shelf life of cosmetic products which is another key driving factor as product safety is a top priority for participants in the global cosmetics industry. To ensure the product safety for human use, manufacturers use antimicrobial ingredients as additives in production techniques which reduces the chances of side-effects.
Product safety is a top priority of competitors in the global cosmetics industry. To ensure that manufacturers of cosmetic products are using antimicrobial ingredients as additives in production techniques. In addition, antimicrobial ingredients extend the product life in the cosmetics landscape fuelling the growth of the market. Varying end-user requirements may hamper the growth of the market. However, high demand from skin care industries is expected to propel the growth of the market in the coming years.
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Major players of the global antimicrobial ingredients market include BASF SE, Ashland Global Holdings Inc., Lonza Group Ltd., Croda International Plc., The Dow Chemical Company, Clariant AG, Akzo Nobel N.V., Solvay SA, Evonik Industries AG, and Wacker Chemie AG, Pfizer Inc., Destiny Pharma plc Merck & Co., Inc., Novartis and others. Key players active in the market are involved in collaborative agreements and expansion to bolster the growth of the antimicrobial ingredients market.
- Developing and developed countries are offering greater opportunities and major players are continuously focusing on new product developments, strategic partnerships, acquisitions and venture capital investments to obtain high growth in the market. For instance, in 2017, AkzoNobel opened a new performance coatings facility in Chonburi, Thailand.
- The manufacturers are achieving optimum business growth by implementing strategies such as production capacity expansions, and intensive investments in research and development.
Antibacterial agents based segment held the largest share of 41.28% in 2017.
The product segment is classified into antibacterial agent, antifungal agent, antiviral agent, and antiparasitic agent. Antibacterial agents segment held the largest market share in 2017. Majority of antimicrobial ingredients produced in the future will be used in manufacturing skin care products which will lead to increased sales. Their importance in protecting cosmetic products from common bacterial outgrowth is driving the growth of the segment. Antifungal agents are used to treat and prevent mycosis such as athlete's foot, ringworm, candidiasis, serious systemic infections such as cryptococcal meningitis, and others.
Dry based segment is expected to grow with the highest CAGR of 5.83% in the forecast period.
Form segment includes dry and liquid based. Dry segment is expected to grow with the highest CAGR of 5.83% in the forecast period and it is expected that majority of antimicrobial agents produced in future will be in dry form. In addition to this, low cost for the production of antimicrobial ingredients in dry form is expected to increase the profit margins for key players, these are some of the key factors to drive the demand of the segment. Limited applications of liquid ingredients are favouring the demand for dry ingredients in the global antimicrobial ingredients market.
Skin care segment was valued around USD 1.72 Billion in 2017.
End use segment is divided into segments such as skin care products, hair care products, oral care products, make-up products and other cosmetics. Skin care segment is playing a chief role in shaping the business growth by dominating the global antimicrobial ingredients market with a value of around USD 1.72 Billion in 2017. These ingredients are being introduced in the formulations of skin care products to extend the shelf life and reduce risks of side-effects caused by microbial activities.
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Regional Segment Analysis of the Antimicrobial Ingredients Market
- North America (U.S. , Canada, Mexico)
- Europe (Germany, France, U.K., Italy, Spain, Rest of the Europe)
- Asia-Pacific (China, Japan India, Rest of APAC)
- South America (Brazil and Rest of South America)
- Middle East and Africa (UAE, South Africa, Rest of MEA)
North America region dominated the global antimicrobial ingredients market with the highest market share of 48.31% in 2017, whereas the Asia Pacific region is second fastest growing region in the market. North America region dominated the global antimicrobial ingredients market due to the high regulatory requirements from the government authorities and awareness in people regarding safe use of skin care products. Asia Pacific region is growing at a rapid pace in the global antimicrobial ingredients market due to an easy availability of raw materials required to produce antimicrobial ingredients at a commercial scale. Moreover, low-wage skilled labour further support the manufacturers and this increases the profit margins for players.
About the report:
The global antimicrobial ingredients market is analysed on the basis of value (USD Billion), volume (Kilotons), consumption (Kilotons), imports (Kilotons) and exports (Kilotons).All the segments have been analyzed on global, regional and country basis. The study includes the analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, supply, demand analysis, competitor position grid analysis, distribution and marketing channels analysis.
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