by The phenoxyethanol market in New Zealand has been witnessing significant growth owing to its increasing application in cosmetic products as a preservative. Phenoxyethanol is a gentle, yet effective preservative commonly used in cosmetic and personal care formulations to inhibit the growth of bacteria, yeasts and molds. It protects products from deterioration and extends their shelf life. Phenoxyethanol maintains the aesthetic qualities of cosmetic products while ensuring consumer safety. The demand for natural and organic ingredients in cosmetics has also boosted the adoption of phenoxyethanol as it is considered safer than parabens and formaldehyde-releasing preservatives.
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 market are BASF SE, Clariant International Ltd., Galaxy Surfactants Limited, Jiangsu Jiafeng Chemical Co. Ltd., Haihang Industry Co. Ltd. and Among Others. These players are focusing on new product launches and partnerships to expand their market share in New Zealand.
The rising health concerns and increasing spending on personal care products offer lucrative growth opportunities in the New Zealand phenoxyethanol market. Manufacturers are investing in R&D to develop natural and eco-friendly phenoxyethanol formulations.
International personal care giants are eyeing the New Zealand market for expansion owing to the high demand for natural ingredients and favorable regulatory environment. Acquisitions and joint ventures with domestic players are expected to drive the phenoxyethanol market.
Market Drivers
Growing awareness about the hazards of parabens and formaldehyde is the key driver boosting the demand for phenoxyethanol in New Zealand. Phenoxyethanol provides effective and safer preservation compared to controversial chemicals. Moreover, the increasing expenditures on premium personal care brands incorporating natural ingredients is also propelling the phenoxyethanol market. Expanding e-commerce industry, urbanization and changing lifestyles are some of the other factors expected to positively influence the phenoxyethanol sales over the forecast period.
PEST Analysis
Political: The New Zealand Phenoxyethanol market is regulated by various legislations and directives such as new product approval protocols and regulations regarding usage of antimicrobial preservatives.
Economic: Rising disposable incomes and increasing healthcare expenditures are contributing to market growth.
Social: Growing awareness about benefits of using personal care products has increased demand for preservatives such as phenoxyethanol.
Technological: Advancements in preservation techniques are allowing product developers to maintain efficacy of formulations while reducing concentration of preservatives.
Geographical Regions with High Market Concentration
The Asia Pacific region accounts for the largest share of the New Zealand Phenoxyethanol market in terms of value. Countries like China, India, and Japan have seen tremendous growth in their personal care and cosmetics industries which has led to increasing demand for phenoxyethanol as a preservative. North America and Western Europe are other major markets driven by high spending capacities and premiumization trends in personal care categories.
Fastest Growing Geographical Region
Central and Eastern Europe is expected to witness the highest growth over the forecast period among all regions. Expanding middle class, rising living standards, and growing influence of Western trends are propelling the demand for innovative personal care and cosmetic products. Manufacturers are introducing more advanced formulations catering to the local consumer needs which requires inclusion of ingredients such as phenoxyethanol.
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?
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemical and materials, defense and aerospace, consumer goods, etc.
