Phenoxyethanol is an aromatic ether glycol that acts as a preservative commonly used in cosmetics and personal care products. It works as a preservative by inhibiting or preventing the growth of micro-organisms such as bacteria, yeasts, and molds in the product. Phenoxyethanol is widely used as a preservative in skincare and haircare products like lotions, creams, shampoos, makeup, and sunscreens owing to its wide range of antimicrobial efficacy and low risk of skin irritation.
The Global New Zealand 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.
Key Takeaways
Key players operating in the New Zealand Phenoxyethanol are BASF SE, Clariant International Ltd., Galaxy Surfactants Limited, Jiangsu Jiafeng Chemical Co. Ltd., Haihang Industry Co. Ltd. and Among Others. BASF SE holds a significant share in the New Zealand Phenoxyethanol market owing to its wide product portfolio and global presence.
The rising demand for naturally derived and multifunctional ingredients from the personal care industry is driving the growth of the New Zealand Phenoxyethanol market. Phenoxyethanol is commonly used as a preservative in natural and organic cosmetic products due to its natural origin and low risk. The increasing demand for eco-friendly cosmetic products is expected to boost the market during the forecast period.
Technological advancements in encapsulation technology have enabled formulators to increase the efficacy and stability of preservatives like Phenoxyethanol in personal care products. Microencapsulation of Phenoxyethanol helps in targeted and controlled release of active ingredients, reducing the risk of skin irritation. These advancements are augmenting the demand from the cosmetic industry.
Market Trends
Growing demand for multi-purpose ingredients: Manufacturers are focusing on developing multi-functional ingredients to simplify product formulations and label declarations. Phenoxyethanol works as an effective preservative as well as offers properties like emollient and solvent. The multi-benefit profile is driving its increased adoption.
Increased applications in hair care products: Phenoxyethanol continues to gain traction as a reliable preservative for hair care products like shampoos, conditioners owing to its broad-spectrum activity against bacteria, yeasts, and molds. It also provides conditioning properties. This is expanding its market potential.
Market Opportunities
Increasing expenditure on personal care in New Zealand: Facilitated by rising disposable income, the spending on personal care and cosmetic products in New Zealand has been growing steadily. This is generating significant opportunities for ingredient suppliers and manufacturers in the country.
Growing demand for baby care products: Preservatives play a critical role in protecting sensitive baby care products from contamination. Phenoxyethanol, considered safe for baby products, presents lucrative prospects with the rising demand for natural baby skincare lines.
Impact of COVID-19 on New Zealand Phenoxyethanol market growth
The COVID-19 pandemic severely impacted the New Zealand Phenoxyethanol market growth. Though the market was growing at a healthy rate of 6.2% CAGR during the pre-pandemic period due to its rising application in personal care, pharmaceutical, home care products, the nationwide lockdowns imposed restrictions on manufacturing facilities. This led to disruptions across supply chains and decline in demand from end use industries like personal care and cosmetics in 2020 and early 2021. However, with the increased focus on hygiene and sanitation during the pandemic, the demand for phenoxyethanol from disinfectants and hand sanitizers grew significantly.
Geographical regions with highest New Zealand Phenoxyethanol market value
The North Island region accounts for over 60% share of the total market value of New Zealand Phenoxyethanol market. Being the most populated region with major cities like Auckland and Wellington, it witnesses highest consumption of personal care and home care products incorporating phenoxyethanol as a preservative. The easy availability of manufacturing facilities and distribution networks further consolidate North Island's position as the top revenue generator.
Fastest growing region in New Zealand Phenoxyethanol market
The South Island region is projected to witness strongest growth during the forecast period on account of rising living standards, increasing spending power and expanding retail landscape in urban centers of Christchurch and Queenstown. Rapid growth in tourism industry promoting increased usage of cosmetic and skincare products will further aid the market expansion. Establishment of new production plants to cater to the demand from local personal care producers offers impetus to the region's market growth.
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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