The global preservatives blends market has marked a significant increase in personal care and grooming along with rising demand for beauty care and home care. The CAGR (Compound Annual Growth Rate) would be a steady 5.60% over the forecast period of 2016 to 2025, as per a Transparency Market Research report.
Region Wise Growth of the Market
-
The Asia Pacific region held more than 35% of market share in 2015 and is bound to see the increase in upcoming years.
-
The increase in population coupled with increase in disposable income will mark the growth of market in this region.
-
The global preservatives blends market in this region will see a number of 5 billion people by the end of 2050.
-
North America & Europe will witness a steady rise.
Personal Grooming Trend Rises
-
Beauty and personal care industries use preservatives in a major way and thus are likely to see massive growth.
-
Currently, the beauty industry is estimated to be worth $445 billion.
-
With an increase in awareness levels regarding personal hygiene and a growing pressure on both and women and men to look their best, the market would be driven forward over the forecast period.
-
The products which were not popular among the passes but are now making headway such as vaginal washes and intimate places skin lightening products.
-
And, all this is fueled by a rise in income to support the growth of the market.
Key Findings
-
Currently, the market for preservatives blend is highly fragmented, and therefore, highly competitive.
-
The growth of preservatives blends market is predicted because people are becoming aware of latest trends in both personal care and home care and they can afford the kind of lifestyle depicted over social media channels.
-
The Leading players in the global preservatives blend market are Troy Corp., Thor Personal Care, Spectrum Chemical, Sharon Laboratories, Schülke Inc., Salicylates & Chemicals Pvt. Ltd., ISCA UK Ltd., Dr. Straetmans GmbH.
Source: Transparency Market Research