Selbyville, Delaware, April 15, 2020 (GLOBE NEWSWIRE) -- According to a research report published by Global Market Insights Inc., the Latin America cosmetic preservatives market size was valued at $95 million in 2019 and is projected to surpass $130 million by 2026, registering a CAGR of 4% from 2020 to 2026. The research report offers a detailed analysis of wavering market trends, competitive scenario, top winning strategies, major investment pockets, drivers & opportunities, and market size & estimations.

Growing product utilization for numerous applications including skincare, haircare, fragrance & perfumes, toiletries, as well as baby products is likely to impel the LATAM cosmetic preservatives market share. The product helps decrease microbial spoilage, reduce the risk of infections, and also preserve nutritional quality and fresh attributes of the cosmetic products. Additionally, increasing investments towards developing advanced, innovative preservative solutions are also expected to escalate industry growth.

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The Latin America cosmetic preservatives market from phenol derivatives is projected to grow at more than 5% CAGR over the projected timeframe. Phenol derivatives are used prominently to inhibit microbial contamination and growth, particularly in skin, hair, as well as bath preparations. The material also helps cleanse the skin and prevent odor by inhibiting microbial growth, which would further foster product demand.

Key reasons for LATAM cosmetic preservatives market growth

  • Rising demand for longer product life and superior product quality.
  • Growing product sales across online eCommerce platforms.
  • Emerging personal grooming trends across Argentina.

2026 forecasts show the ‘hair care’ segment retaining its dominance

With respect to the product segment, LATAM cosmetic preservatives industry through the hair care application is projected to expand over 4.5% CAGR over the projected timeframe. Hair care products usually contain copious amounts of active nutrients and water as well as favorable temperature and pH, which creates an ideal environment for the propagation of molds, yeast, as well as bacteria.

Parabens, formaldehyde releasers, phenol derivatives, and QAC boast of preservation and functional properties. Their ready availability coupled with the cost-effectiveness of the product would further stimulate synthetic cosmetic preservatives demand, which is likely to foster market growth.

Argentina to continue to lead industry expansion with regards to revenue

Argentina cosmetic preservatives industry is anticipated to reach a valuation of more than $10 million during the forecast timespan. Rising cosmetic manufacturing practices, as well as investments from cosmetic market participants throughout the country due to emerging personal grooming trends, may positively influence the cosmetic preservatives market size.

For instance, in March of 2016, Procter & Gamble unveiled its plan to invest more than $50 million in Argentina owing to liberal business and trade regulations introduced by the government.

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Leading market players

Key manufacturers producing cosmetic preservatives across LATAM include Lonza, BASF, Sharon Laboratories, Merck KGaA, the Dow Chemical Company, Arkema, Ashland, Symrise Ag, Clariant AG, Stepan Company, International Flavours & Fragrances Inc (IFF), Schülke, LANXESS as well as Firmenich SA among others.

About Global Market Insights, Inc.

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider. Offering syndicated and custom research reports, growth consulting and business intelligence services, Global Market Insights, Inc. aims to help clients with penetrative insights and actionable market data that aid in strategic decision making.

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