Portland, OR, Oct. 28, 2022 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global Paraben market accrued revenue worth $91.1 million in 2021, and will reach $164.8 million by 2031, registering a CAGR of 6.2% from 2022 to 2031. The market research report offers a comprehensive analysis of oscillating industry trends, top segments, value chains, major investment business scenarios, regional landscape, and competitive space. The study is a major source of information for giant players, entrepreneurs, owners, and managers in creating new business plans for the future and taking steps to improve their market position. The report demonstrates an in-depth quantitative analysis of the market from 2022 to 2031 and guides investors in allocating funds to the rapidly evolving market.
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Report Coverage & Details:
| Report Coverage | Details |
| Forecast Period | 2022-2031 |
| Base Year | 2021 |
| Market Size in 2021 | $91.1 Million |
| Market Size in 2031 | $164.8 Million |
| CAGR | 6.2% |
| No. of Pages in Report | 200 |
| Segments Covered | Type, application, and region. |
| Drivers | Extensive use of parabens in pharmaceuticals, cosmetics, food & beverages, and others. |
| Parabens arrest the proliferation of germs & fungi in food products and increase their shelf life. | |
| Opportunities | Surge in product penetration in food processing activities. |
| Escalating demand for convenience foods. | |
| Restrains | Adverse effects of parabens on the skin such as skin irritation and reproductive health of women. |
Covid-19 Scenario
- The COVID-19 outbreak moderately impacted the global Paraben market growth due to increase in demand for parabens as food preservatives during the pandemic period.
- However, the reduction in purchase and sale of personal care & cosmetic products during the COVID-19 period adversely impacted the size of the global market.
The report offers an in-depth division of the global Paraben market based on Type, Application, and Region. It provides an in-depth investigation of every segment and sub-segment in tables and figures through which consumers can get insights into market trends. The market report analysis aids organizations, investors, and entrepreneurs in knowing which sub-segments are to be explored for achieving massive growth in the ensuing years.
Based on the type, the methylparaben segment contributed the largest market share in 2021, accounting for nearly one-third of the overall share of the global paraben market. However, the butylparaben segment is predicted to retain its dominant status during the forecast timeline. Moreover, this segment is slated to register the highest CAGR of nearly 7.2% from 2022 to 2031.
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In terms of application, the cosmetics and personal care segment is anticipated to register the fastest growth with a CAGR of nearly 7.3% during the forecast timeframe. The report also includes other segments such as pharmaceutical, food and beverages, and others.
Based on region, North America contributed the largest market share in 2021, accounting for nearly one-third of the global paraben market share. The region is predicted to continue its market dominance by 2031. However, the Asia-Pacific paraben market is set to register the fastest CAGR of 7.0% during the assessment period.
Major players of the global paraben market profiled in the research report include Central Drug House (P) Ltd., ChemPoint.com Inc., Croda International Plc, DuPont de Nemours, Inc., Hexon Laboratories Private Limited, Jiangsu Huanxin High-Tech Materials Co. Ltd, Johnson & Johnson Consumer Inc., Nu Skin International, Inc., Shandong Ailitong New Material Co., Ltd, Sharon Laboratories Ltd., Shreeji Pharma International, Toronto Research Chemicals Inc, The Estée Lauder Companies Inc., Ueno Fine Chemicals Industry Ltd., and Zhejiang Shengxiao Chemicals Co Ltd.
The report evaluates these key participants in the global paraben market. These participants have executed a slew of major business plans such as the extension of the consumer base, technology innovation, strategic partnerships, and collaborations for enhancing penetration of new technologies in the global markets and establishing strong market growth globally. The market study report helps in monitoring the performance of each segment along with examining the effect of new technology launches on the overall market earnings.
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About Us
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
