Preservative Blends Market
Preservative Blends Market (Product - Parabens, Formaldehyde, Halogenated, Alcohols, and Organic Acids; Application - Beauty Care, Home Care, and Personal Care) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016 - 2024
Press Release :
Demand for Extended Shelf Life and High Quality to Drive Preservative Blends Market
Preservatives refer to man-made or natural chemicals, which are added to food items in a bid to prevent them from spoilage. Fresh food items are actually preserved everyday by storing food items in freezer of fridge. Meats cooked over burning coal or wood or smoking fish are also considered as preservation methods. The global preservative blends market is estimated to gather momentum from the growing popularity of packaged food products.
Preservatives make use of various methods, some of which are
- Reducing the moisture content and increasing acidity
- stopping the development of microorganisms
- acting as an antioxidant
- preventing the process of natural ripening
Lowering of food wastage is estimated to be one of the major advantages of utilization of preservatives.
Wide Scope of Application in the Food Industry to Spell Growth for the Market
The growth of the global preservative blends market is likely o be shaped by the increased use of cosmetic products. In addition to that, rising prominence of packaged food products due to changing lifestyle and food preference of consumers is likely to work in favor of the global preservative blends market in the near future.
Rising disposable income together with propensity to spend on various cosmetic and packaged food products is expected to drive the demand for preservative blends over the tenure of assessment. Inclination of the younger generation to make increased use of cosmetics and other grooming products is further likely to shoot up demand for the preservative blends.
In addition to cosmetics, preservation also plays an extremely important role in the food sector. Preservatives are needed to prolong shelf life and maintain quality of the product. Preservative blends are able to survive at process temperature. The product is also able to serve as an enabler for packaged and frozen food products. Wish such wide scope of application, the global preservative blends market is estimated to witness considerable growth over the tenure of assessment.
Global Preservative Blends Market: Snapshot
The global preservative blends market is anticipated to rise significantly over the next few years, thanks to the upswing in their demand from a number of application areas, especially beauty care, home care, and personal care. The increasing demand for premium personal care products, boosted by the change in the lifestyle of consumers due to their rising disposable income, is likely to have a positive impact on this market in the years to come. However, the increasing implementation of stringent government rules and regulation regarding the usage of these preservatives, considering various side-effects of chemical preservatives and the disorders and infections caused by them may restrict the market from growing steadily in the near future.
The global preservative blends market offered an opportunity worth US$133.5 mn in 2015. Progressing at a CAGR of 5.60% between 2016 and 2024, the market is estimated to reach US$215.9 mn by the end of 2024.
Asia Pacific to Continue as Dominant Regional Market
The worldwide market for preservative blends stretches across Europe, Asia Pacific, the Middle East and Africa, North America, and Latin America. With a share of more than 35%, Asia Pacific held the dominant position in this market in 2015. The Rising population and the increasing awareness level of consumers regarding personal care and beauty products led the demand for preservative blends in this region. Over the forthcoming years, the Asia Pacific preservative blends market is likely to retain its dominance, thanks to the swelling demand for these preservatives in the beauty, home, and personal care applications.
On the other hand, North America and Europe are projected to exhibit a stable rise in their respective markets for preservative blends in the years to come. However, as the markets in Latin America and the Middle East and Africa are growing exponentially, they are likely to be proved as most profitable markets for producers in the near future. In the Middle East and Africa, the GCC countries are expected to surface as the key contributor to preservative blends market on account of the presence of well-established manufacturers.
Demand from Personal Care Application Segment to Remain High
Preservative blends are most prominently applied in beauty care, home care, and personal care products. Among these, the demand for these preservatives from personal care products is greater than others. With the rise in awareness among consumers regarding personal health and hygiene, coupled with the increase in purchasing power, the application of these preservatives in personal care products is expected to remain high over the forthcoming years.
The beauty care segment is also projected to demonstrate a high demand rate, thanks to the significant growth of the beauty care market. The accelerating interest of people in personal grooming is influencing the sales of beauty products significantly, which is likely to reflect positively on the demand for preservative blends from this segment in the years to come.
Troy Corp., Thor Personal Care, Spectrum Chemical, Sharon Laboratories, Schülke Inc., Salicylates & Chemicals Pvt. Ltd., ISCA UK Ltd., Dr. Straetmans GmbH, CISME Italy SRL, The Dow Chemical Co., Lonza, Lanxess, Clariant International Ltd., BASF SE, and Ashland are some of the leading players operating in the global preservative blends market.
Global Preservative Blends Market: Overview
Preservative blends are blends of preservative chemicals that are used to prevent fermentation and decomposition of product by microbial growth or other climatic conditions. It helps in extending the shelf life of the products to maintain the unique aroma, color and consistency of the product. The report estimates and forecasts the preservative blends market on the global and regional levels. The study provides forecast between 2016 and 2024 based on volume (Tons) and revenue (US$ Mn) with 2015 as the base year. The report comprises an exhaustive value chain analysis for each of the product segments. It provides a comprehensive view of the market. Value chain analysis also offers detailed information about value addition at each stage.
The study includes drivers and restraints for the preservative blends market along with their impact on demand during the forecast period. The study also provides key market indicators affecting the growth of the market. The report analyzes opportunities in the preservative blends market on the global and regional level. Drivers, restraints, and opportunities mentioned in the report are justified through quantitative and qualitative data. These have been verified through primary and secondary resources. Furthermore, the report analyzes substitute analysis of preservative blends and global average price trend analysis.
Secondary research sources that were typically referred to include, but were not limited to company websites, financial reports, annual reports, investor presentations, broker reports, and SEC filings. Other sources such as internal and external proprietary databases, statistical databases and market reports, news articles, national government documents, and webcasts specific to companies operating in the market have also been referred for the report. In-depth interviews and discussions with a wide range of key opinion leaders and industry participants were conducted to compile this research report. Primary research represents the bulk of research efforts, supplemented by extensive secondary research. Key players’ product literature, annual reports, press releases, and relevant documents were reviewed for competitive analysis and market understanding. This helped in validating and strengthening secondary research findings. Primary research further helped in developing the analysis team’s expertise and market understanding.
Global Preservative Blends Market: Research Methodology
The report includes Porter’s Five Forces Model to determine the degree of competition in the preservative blends market. The report comprises a qualitative write-up on market attractiveness analysis, wherein applications and countries have been analyzed based on attractiveness for each region. Growth rate, market size, raw material availability, profit margin, impact strength, technology, competition, and other factors (such as environmental and legal) have been evaluated in order to derive the general attractiveness of the market. The report comprises price trend analysis for preservative blends between 2016 and 2024.
Global Preservative Blends Market: Segmentation Analysis
The study provides a comprehensive view of the preservative blends market by dividing it into applications and geography segments. The preservative blends market has been segmented into beauty, home and personal care based on application. Application segment have been analyzed based on historic, present, and future trends.
Regional segmentation includes the current and forecast demand for preservative blends in North America, Europe, Asia Pacific, Latin America, and Middle East & Africa (MEA). Market segmentation includes demand for individual applications in all the regions.
Global Preservative Blends Market: Competitive Outlook
The report covers detailed competitive outlook that includes market share and profiles of key players operating in the global market. Key players profiled in the report includes The Dow Chemical Company, Lanxess, Galaxy Surfactants Ltd., BASF SE, Clariant Chemicals and others. Company profiles include attributes such as company overview, number of employees, brand overview, key competitors, business overview, business strategies, recent/key developments, acquisitions, and financial overview (wherever applicable).
The global preservative blends market has been segmented as follows: