An increase in the establishment of regional cosmetic products brands will positively influence the business trend in the coming times. As per reports, LATAM cosmetic preservatives market size could cross USD 130 million in total valuation by 2026. Expounded below are some of the factors expected to influence the market to some extent.
Improving economic conditions among people in Latin America over the years along with the establishment of various regional cosmetics companies is driving developments in the regional cosmetics preservatives market. During the prevailing coronavirus pandemic, due to the restrictions on the movement of the people as imposed by the government authorities, many people have resorted to purchasing cosmetics online which has sustained the demand for the products.
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A major factor supporting the demand for the compounds in South America include its widespread use in a variety of applications like toiletries, fragrance and perfumes, skincare, haircare, and baby products. Cosmetic preservatives help in controlling the risk of infections, preservation of fresh attributes, decrease microbial spoilage, and maintain the nutritional quality of the cosmetic items.
Developed cosmetics industry in Argentina
Argentina has witnessed a rise in the number of working women, which has emerged as a major factor contributing towards the growth in the industry. Growing cosmetics manufacturing along with the presence of a wide number of industry participants investing in the region will magnify the prospects in the near future. In the year 2016, Procter & Gamble invested nearly USD 50 million in the country due to the presence of a liberal trade system and business regulations established by the governments.
Robust hair care application in LATAM
Cosmetic preservatives have found widespread use in the hair care segment over the past few years. Haircare products comprise of a huge amount of water and other active nutrients along with favorable pH and temperature that acts as a suited growth environment of molds, bacteria, and yeasts. Formaldehyde releasers, QAC, parabens, and phenol derivatives comprise of preservative and functional properties. Easy availability along with economical pricing will complement the demand for synthetic cosmetic preservatives.
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Widespread use of decylene glycol
Decylene glycol has witnessed considerable usage in the LATAM cosmetic preservatives industry. It is predominantly needed as an active as well as blending ingredient. The product induces active properties such as preservative boosters during the formulation of cosmetics and personal care items. The compound is known to offer beneficial characteristics like effectiveness against propionibacterium acne and reducing the number of pimples.
Prominent cosmetic preservative producers and suppliers present in LATAM include Lonza, Merck, BASF, KGaA, The Dow Chemical Company, and Sharon Laboratories. The industry players are working towards enhancing the product offerings to meet the changing consumer demands. For instance, in the year 2018, Sharon Laboratories launched SharoSENSE Plus Preservative range, which is natural and offers improved hydro solubility and superior efficacy solution.
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