June 22, 2024
New Zealand Phenoxyethanol Market

New Zealand Phenoxyethanol Market Estimated to Witness High Growth Owing to Rising Demand from Personal Care Industry

Phenoxyethanol is an aromatic alcohol that is widely used as a preservative in cosmetics, personal care products and pharmaceuticals to prevent microbial growth. As an active ingredient, phenoxyethanol helps protect cosmetic products from contamination and degradation. It not only inhibits the growth of bacteria, yeast and mould but also protects products from discolouration or unpleasant odours. The personal care industry has been a major consumer of phenoxyethanol owing to its effectiveness and safety at low concentrations.

The Global 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. and Haihang Industry Co. Ltd., among others. These players are focusing on capacity expansions and new product launches to gain a competitive edge in the market.

The personal care industry offers major opportunities for growth as consumers are increasingly opting for natural preservatives in cosmetic products. Phenoxyethanol being a nature-identical preservative is gaining wide acceptance. Growing women workforce and increased spending on personal grooming are fuelling sales in Asia Pacific region.

With rising international trade, companies are expanding their footprint in North America and European countries through joint ventures and acquisitions. Domestic players from China and India have also strengthened their presence in foreign markets through export activities.

Market Drivers

The rising demand from the personal care industry is one of the major drivers propelling the growth of New Zealand phenoxyethanol market. The booming cosmetics market along with surge in demand for natural and eco-friendly preservatives are promoting the use of phenoxyethanol. Furthermore, easy availability of raw materials and growing pharmaceutical production in developing nations is augmenting the market growth. Strong distribution networks of leading players along with expansion of e-commerce are also supporting the sales of phenoxyethanol.

PEST Analysis

Political: The government regulations on preservatives used in personal care and cosmetic products favor the growth of the New Zealand Phenoxyethanol market. Certain regulations restrict the use of harmful preservatives.

Economic: The rising disposable incomes have led to increased spending on personal care and cosmetic products. This increases the demand for preservatives like Phenoxyethanol which ensures longer shelf life of products.

Social: People are more aware of ingredients in personal care products and prefer natural or plant-based preservatives for safety. Phenoxyethanol being a natural preservative gains acceptance.

Technological: Manufacturers focus on development of advanced formulation techniques to incorporate Phenoxyethanol as an effective preservative at lower dosage levels. New extraction techniques lower the production cost.

The North American region holds the major share of the New Zealand Phenoxyethanol market in terms of value owing to the large personal care and cosmetic industry and established major players in the region. The Asia Pacific region is expected to witness the highest growth during the forecast period supported by rising incomes, growing middle class population and their increased spending on personal care products in countries like India and China.

The emerging economies provide huge growth potential for the New Zealand Phenoxyethanol market players. The Latin American region is projected to be the fastest growing regional market during the forecast period due to increasing foreign investments, rising standards of living and growing personal care industry in the region creating high demand for preservatives like 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