The market is projected to reach US$ 285.2 Million in 2033. The widespread use of the product in the production of personal care and cosmetics, food, pharmaceuticals, and others, is expected to drive market growth throughout the assessment period.
According to FMI, the market is estimated to be valued at US$ 204.2 Million in 2023 and is projected to increase at a CAGR of 3.4% in the forecast period from 2023 to 2033.
| Attributes | Details |
|---|---|
| Market Size 2022 | US$ 198.6 Million |
| Market Size 2023 | US$ 204.2 Million |
| Market Size 2033 | US$ 285.2 Million |
| Value CAGR (2023 to 2033) | 3.4% |
| Top 3 Countries Share (2023) | 48.3% |
Parabens are 4-hydroxybenzoic acid esters. They are used as preservatives in a variety of products, including those intended for children, such as skin care, pharmaceuticals, consumer goods such as pet care products, and food. They are used both alone and in combination to have an antibacterial effect.
As these are extremely efficacious in the prevention of bacterial growth, they help in increasing the shelf life of the product making them safe for consumption and hygienic. This factor is expected to favor growth of the market throughout the analysis.
The analysis of demand from 2018 to 2022 showed a historical growth rate of less than 2.8% CAGR. The cosmetics industry witnessed weak sales during the COVID-19 outbreak due to widespread store closures, coupled with more influence on health and well-being. The industry responded positively from the first quarter of year 2021 as manufacturers were switching their manufacturing to sanitization and cleaning products.
During the projected period, the global market is expected to grow with a CAGR of 3.4% owing to increased demand for cosmetics and personal care products. Demand for personalized cosmetics products, need-based hair and skin care products, men grooming essentials, and others is anticipated to boost the market growth.
Methylparaben is a type of chemical that is used as a preservative. These belong to the Paraben Family. These preservatives are being used for almost more than 60 years. They prevent the growth of fungi, bacteria, and others and prevent the spoilage of the compound.
Methylparaben is often used in cosmetics, food, pharmaceuticals, and personal hygiene products. They can be found naturally in fruits such as blueberries. Methylparaben has several functions including the preservation of products. Other functions include antifungal agents, plant metabolites, allergic testing agents, neuroprotective agents, and so on.
Methylparaben is found in cosmetics products such as shampoo, shaving creams, lotions, toothpaste, personal lubes, and others. Currently, health experts consider methylparaben containing products to be safe to use, although products without methylparaben can also be seen in the market for those who prefer chemical-free products.
Methylparaben comes with a number of properties due to which it is used in different end-use industries. The growth of the cosmetics and pharma industry will have a direct impact on the market.
East Asia is expected to lead the global market during the forecast period. China, being the key country leading the East Asian market, is expected to provide lucrative opportunities to market participants. China has experienced significant growth in recent years, mainly driven by an increasing number of working women, disposable income, and rising demand for premium products.
According to a study, the cosmetics market of China is dominated by skin products followed by make-up and hair products, and oral care products. The growing demand for cosmetics products in the younger generation along with the inclination towards personal hygiene is expected to boost the demand for such products. In turn, this will help the market to grow more.
Even after the pandemic severely affected the Chinese economy and end-use industries, the cosmetics industry recovered quickly. E-commerce played a vital role in the market recovery. Easy access to favourite beauty brands through e-commerce, multiple options available in the market, and consciousness about personality and hygiene all are the factors responsible for growth of the market.
Key players operating in the market include Ueno Fine Chemicals, Sharon Laboratories, Jiangsu BVCO, Zhejiang Shengxiao, Kushan Shuangyou, Ami Organics Limited, SHREEJI PHARMA INTERNATIONAL, VIVAN Life Sciences, Salicylates and Chemicals Pvt. Ltd., Enomork and others.
Key market participants involved in the market are focusing on strengthening their distribution networks and expanding their regional and global reach. Manufacturers are also focused on the long-term supply with the end users to grab maximum opportunities in regional as well as overseas markets.
For Instance:
| Attribute | Details |
|---|---|
| Growth Rate | CAGR of 3.4% from 2023 to 2033 |
| Base Year for Estimation | 2023 |
| Historical Data | 2018 to 2022 |
| Forecast Period | 2023 to 2033 |
| Quantitative Units | Revenue in USD Million, Volume in Tons, and CAGR from 2023 to 2033 |
| Report Coverage | Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends, and Pricing Analysis |
| Segments Covered | Product Type, Application, End Use Industry, Region |
| Regions Covered | North America; Latin America; East Asia; South Asia and the Pacific; Western Europe; Eastern Europe; Central Asia; Russia and BelarusBalkan and Baltic Countries; The Middle East and Africa |
| Key Countries Covered | USA, Canada, Mexico, Brazil, Argentina, Germany, France, Spain, Italy, BENELUX, NORDICS, United Kingdom, Poland, Hungary, Romania, Czech Republic, China, Japan, South Korea, India, ASEAN, Australia and New Zealand, Kingdom of Saudi Arabia, The United States of Emirates, Türkiye, Northern Africa, South Africa, Israel |
| Key Companies Profiled | Ueno Fine Chemicals; Gujarat Organics; Sharon Laboratories; Jiangsu BVCO; Zhejiang Shengxiao; Kushan Shuangyou; Ami Organics Limited; SHREEJI PHARMA INTERNATIONAL; VIVAN Life Sciences; Salicylates and Chemicals Pvt. Ltd.; Enomark;Nu Skin International Inc. |
| Customization and Pricing | Available upon Request |
In 2023, the value reached over US$ 204.2 Million.
During the forecast period, the market is estimated to expand at a CAGR of 3.4% from 2023 to 2033.
The market is projected to reach US$ 285.2 Million by the end of 2033.
China is projected to lead the Paraben market in the forecast period.
Key players operating in the market include Ueno Fine Chemicals, Sharon Laboratories, Jiangsu BVCO, Zhejiang Shengxiao, Kushan Shuangyou, Ami Organics Limited, SHREEJI PHARMA INTERNATIONAL, VIVAN Life Sciences, Salicylates and Chemicals Pvt. Ltd., Enomork and others.
Parabens Market
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