New Zealand Phenoxyethanol Market To Grow At A Steady Pace, Driven By Growing Demand For Preservatives

New Zealand Phenoxyethanol Market To Grow At A Steady Pace, Driven By Growing Demand For Preservatives

The New Zealand phenoxyethanol market is anticipated to witness steady growth owing to increasing demand for preservatives in cosmetics and personal care products. Phenoxyethanol is widely utilized as a preservative in products such as lotions, creams, shampoos, and other cosmetics. It acts as an antimicrobial agent to prevent the growth of microbes and extends the shelf life of personal care items. The extensive use of phenoxyethanol across various cosmetic applications is expected to drive the market during the forecast period.

The Global Phenoxyethanol Market Size is estimated to be valued at US$ 1.90 Bn in 2024 and is expected to exhibit a CAGR of 6.2% over the forecast period 2024-2031.

Phenoxyethanol is commonly used as a preservative in cosmetics, fragrances, and toiletries due to its effective broad-spectrum antimicrobial properties. It protects products from microbial deterioration without disrupting their original qualities. The growing cosmetics industry and increasing consumer demand for natural preservatives are fueling the demand for phenoxyethanol.

Key Takeaways

Key players operating in the New Zealand phenoxyethanol market are BASF SE, Clariant International Ltd., Galaxy Surfactants Limited, Jiangsu Jiafeng Chemical Co. Ltd., And Haihang Industry Co. Ltd. Among Others. BASF is one of the leading producers of phenoxyethanol with a wide portfolio of preservative solutions.

The rising penetration of e-commerce and increasing online sales of personal care products are opening new opportunities for phenoxyethanol market players. Global players are expanding to Southeast Asian and Latin American markets and focusing on development of bio-based variants to capitalize on the changing preferences.

Market Drivers and Restraints

The increasing demand for natural and eco-friendly preservatives across personal care and cosmetics industries is a major market driver. Phenoxyethanol is widely accepted by regulatory bodies as a natural preservative and is thus gaining popularity.

However, the availability of alternative natural preservatives such as grapefruit seed extract and rosemary extract could hamper the growth of the phenoxyethanol market to some extent during the forecast period. Ongoing R&D towards development of novel green substitutes is also a challenge faced by phenoxyethanol market players.

Segment Analysis 

The New Zealand phenoxyethanol market is dominated by the preservatives segment. Phenoxyethanol is widely used as a preservative in personal care and cosmetic products such as lotions, creams, shower gels, shampoos and other products. It acts as an effective preservative by preventing the growth of microorganisms. The growing personal care industry in New Zealand drives the demand for phenoxyethanol as a preservative.

Global Analysis

Regionally, Asia Pacific is expected to grow the fastest in the New Zealand phenoxyethanol market during the forecast period. Rapidly expanding economies, growing population, rising per capita incomes and increasing demand for personal care and cosmetic products are fueling market growth. Countries such as China and India are dominating the Asia Pacific regional market. North America is currently the largest market for phenoxyethanol due to stringent regulations regarding use of toxic preservatives. However, growth is expected to be higher in Asia Pacific region. Key players are expanding their production capacities and setting up new plants in Asia Pacific to leverage high growth opportunities.

What Are The Key Data Covered In This New Zealand Phenoxyethanol Market Report?

:- Market CAGR throughout the predicted period

:- Comprehensive information on the aspects that will drive the New Zealand Phenoxyethanol Market's growth between 2024 and 2031.

:- Accurate calculation of the size of the New Zealand Phenoxyethanol Market and its contribution to the market, with emphasis on the parent market

:- Realistic forecasts of future trends and changes in consumer behaviour

:- New Zealand Phenoxyethanol Market Industry Growth in North America, APAC, Europe, South America, the Middle East, and Africa

:- A complete examination of the market's competitive landscape, as well as extensive information on vendors

:- Detailed examination of the factors that will impede the expansion of New Zealand Phenoxyethanol Market vendors

FAQ’S

Q.1 What are the main factors influencing the New Zealand Phenoxyethanol market?

Q.2 Which companies are the major sources in this industry?

Q.3 What are the market’s opportunities, risks, and general structure?

Q.4 Which of the top New Zealand Phenoxyethanol Market companies compare in terms of sales, revenue, and prices?

Q.5 Which businesses serve as the New Zealand Phenoxyethanol market’s distributors, traders, and dealers?

Q.6 How are market types and applications and deals, revenue, and value explored?

Q.7 What does a business area’s assessment of agreements, income, and value implicate?

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