Phenoxyethanol Preservatives Market Size, Share, Analysis, Trends, Growth Report, 2030

Phenoxyethanol Preservatives Industry Prospective:

The global phenoxyethanol preservatives market size was evaluated at $180 million in 2022 and is slated to hit $300 million by the end of 2030 with a CAGR of nearly 6.7% between 2023 and 2030.

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Phenoxyethanol Preservatives Market: Overview

Phenoxyethanol is a colorless & oily liquid and is used as a preservative in cosmetic products. Moreover, it also finds application as a stabilizer in soaps & perfumes. Phenoxyethanol is manufactured through a reaction of phenol and ethylene oxide at high temperatures & pressure. Apart from this, the product has intermediate water solubility and demonstrates an adequate rate of evaporation. It finds a plethora of applications as a preservative in pharmaceutical drugs and lubricants. It is used as an insect repellant, antiseptic, and solvent for resins, dyes, cellulose acetate, and inks. The massive use of anesthetics in organic synthesis and fish aquaculture will drive product penetration across the globe.

Key Insights

• As per the analysis shared by our research analyst, the global phenoxyethanol preservatives market is projected to expand annually at the annual growth rate of around 6.7% over the forecast timespan (2023-2030)
• In terms of revenue, the global phenoxyethanol preservatives market size was evaluated at nearly $180 million in 2022 and is expected to reach $300 million by 2030.
• The global phenoxyethanol preservatives market is anticipated to grow rapidly over the forecast timeline owing to a surge in disposable income and a thriving e-commerce sector in developing countries.
• In terms of application, the home & personal care segment is slated to register the highest CAGR over the analysis period.
• Based on product, the phenoxyethanol P5 segment is projected to record a massive surge in the coming years.
• Region-wise, the European phenoxyethanol preservatives industry is expected to register the fastest CAGR during the assessment timeline.

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Phenoxyethanol Preservatives Market: Growth Factors

An increase in the per capita income to enhance the global market surge over 2023-2030

A surge in disposable income and a thriving e-commerce sector in developing countries are the key factors enhancing the demand for personal care as well as home items. This will steer the demand for the product over the forthcoming years, thereby driving the global phenoxyethanol preservatives market trends. Apart from this, phenoxyethanol is used for arresting microbial proliferation and hence elevates the shelf life of any item. Rapid urbanization, a surge in living standards, and an increase in the per capita expenditure in the developing countries of Latin America and the Asia Pacific will embellish the market growth in the forthcoming years. High spending on personal care items and the emerging fashion sector will enlarge the market scope over the forthcoming years.

With less toxic product features and exceptional antimicrobial activities, the market for phenoxyethanol preservatives is likely to gain traction over the ensuing years. Humungous product demand in household cleaning activities and cosmetic items will spur the growth of the market across the globe. The large-scale use of phenoxyethanol preservatives in-home care & beauty care products for enhancing their shelf life can embellish the expansion of the global market.

Phenoxyethanol Preservatives Market: Restraints

Stringent laws related to product penetration in the cosmetics sector to restrict the industry growth

Infant oral exposure to phenoxyethanol can acutely affect nervous system functions, thereby inhibiting the growth of the global phenoxyethanol preservatives industry. Strict norms governing the use of preservatives in the cosmetic sector and changing customer perceptions can prove to be detrimental to the growth of the global industry in the near future.

Phenoxyethanol Preservatives Market: Opportunities

Growing preference for the product over parabens can create new growth avenues for the global market in the forecast period

A humongous surge in the substitution of parabens with phenoxyethanol can create new growth opportunities for the global phenoxyethanol preservatives market.  A rise in online retail activities in developing countries and an increase in disposable income along with a rise in customer base for products can prompt the global market expansion in the upcoming years.

Phenoxyethanol Preservatives Market: Challenges

The rise in the demand for natural preservatives to create a huge challenge for the global industry in the near future

The costly and time-consuming process of approval of preservatives along with the growing use of natural preservatives can pose a huge challenge for the global phenoxyethanol preservatives industry. Few of the regulatory organizations such as the U.S. FDA have warned the end-users about the growing toxicity of the product and such moves can shrink the demand for the product in the developed countries.  

Phenoxyethanol Preservatives Market: Segmentation

The global phenoxyethanol preservatives market is sectored into application, product, and region.                    

In application terms, the global phenoxyethanol preservatives market is segregated into home & personal care, jet fuel additives, dyes & inks, pharmaceuticals, chemical intermediates, and metalworking fluids segments. Furthermore, the home & personal care segment, which gained approximately 41% of the global market share in 2022, is anticipated to record the fastest growth rate in the period from 2023 to 2030. The growth of the segment during the forecast timeframe can be credited to a massive use of products in household detergents, perfumes & ointments, and cosmetics.

Based on the product, the global phenoxyethanol preservatives industry is sectored into phenoxyethanol P5 and phenoxyethanol P25 segments. Moreover, the phenoxyethanol P5 segment, which accumulated the largest share of the global industry in 2022, is projected to lead the segmental growth in the coming eight years. The expansion of the segment over 2023-2030 can be owing to an increase in the use of phenoxyethanol P5 in the cosmetics sector.  

Phenoxyethanol Preservatives Market: Report Scope

Phenoxyethanol Preservatives Market: Regional Insights

Asia-Pacific phenoxyethanol preservatives market to establish global dominance over the forecast period

Asia-Pacific, which amassed nearly 49% of the global phenoxyethanol preservatives market earnings share in 2022, is predicted to dominate the regional sphere in the next couple of years. Additionally, the market expansion in the region over the coming years can be credited to the growing use of phenoxyethanol preservatives in home & personal care as well as pharmaceuticals sectors in countries such as India, Philippines, Bangladesh, China, and Myanmar. An increase in the income of the customers and promotional activities adopted by the fashion & cosmetics sectors will boost the regional market expansion in the coming years.

The European phenoxyethanol preservatives industry is set to register the highest CAGR in the next eight years subject to an increase in the production of phenoxyethanol preservatives in countries such as Germany, France, and Italy.  Reportedly, the European Council has approved the use of the product in restricted proportions in the continent and this will steer the regional industry growth.  

Key Developments

• In the first half of 2023, Proctor & Gamble, a key player in the consumer goods sector, and The DOW Company signed a partnership agreement for an air capsule e-commerce packaging.
• In the first quarter of 2023, Spectrum Chemical Manufacturing Corporation, a key global supplier of specialty & cGMP chemicals, launched a new kind of raw materials to the bioCERTIFIED product portfolio for their use in various kinds of research activities.

  Phenoxyethanol Preservatives Market: Competitive Space

The global phenoxyethanol preservatives market profiles key players such as:

• Jiangsu Jiafeng Chemical Co. Ltd.
• The Dow Chemical Company
• Haihang Industry Co. Ltd.
• Galaxy Surfactants Ltd.
• BASF SE
• Clariant Corporation
• Symrise
• Jinan Haohua Industry Co. Ltd.

The global phenoxyethanol preservatives market is segmented as follows:

By Product

• Phenoxyethanol P5
• Phenoxyethanol P25

By Application

• Home & Personal Care
  • Perfumes
  • Cosmetics
  • Ointments
  • Detergents
• Dyes & Inks
• Pharmaceuticals
• Chemical Intermediates
• Jet Fuel Additives
• Metalworking Fluids

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France 
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa