Paraben Market Research, 2031
The global paraben market size was valued at $91.1 million in 2021, and is projected to reach $164.8 million by 2031, growing at a CAGR of 6.2% from 2022 to 2031.
Parabens are synthetic compounds that can be used as preservatives in pharmaceuticals, cosmetics, and food products. Parabens are used as preservatives in processed vegetables, fats & oils, sugar substitutes, baked goods, and frozen dairy products. Parabens are also widely utilized as preservatives in cosmetic products owing to their anti-microbial properties. Parabens restrain the growth of germs and fungus and promote product shelf life. Parabens are also used in the pharmaceutical business to preserve medicinal medications against contamination.
Further, parabens are approved for usage by government agencies globally, including the U.S., the European Union, Australia, Japan, and Canada. Safe ranges for the usage of paraben preservatives have been made in these nations. Further, the U.S. Food and Drug Administration (FDA) has also classified propylparaben and methylparaben as “Generally Regarded As Safe” (GRAS) by medical and toxicological experts for use in preserving food.
Increase in applications of parabens in various industries, such as pharmaceutical, food & beverages, and others is predicted to drive the parabens market growth. In addition, rise in demand from personal care & cosmetics industry is expected to boost the parabens market growth during the forecast period. However, adverse effects of parabens such as skin irritation and reproductive difficulties are projected to restrain the market expansion. Nevertheless, rise in demand for processed food is anticipated to offer lucrative growth opportunities for the parabens market.
The parabens market is segmented into type, application, and region. On the basis of type, the market is categorized into methylparaben, propylparaben, butylparaben, and others. On the basis of application, the market is categorized into pharmaceutical, cosmetics and personal care, food and beverages, and others. Region-wise, the market is studied across North America, Europe, Asia-Pacific, and LAMEA. The parabens market share is analyzed across all significant regions and countries.
The major players operating in the global parabens market include Central Drug House (P) Ltd, ChemPoint, Croda International Plc, DuPont, Hexon Laboratories Private Limited, Jiangsu Huanxin High-Tech Materials Co. Ltd, Johnson & Johnson Consumer Inc., Nu Skin International Inc, Shandong Ailitong New Material Co. Ltd, Sharon Laboratories, Shreeji Pharma International , Toronto Research Chemicals, The Estée Lauder Companies Inc, Ueno Fine Chemicals Industry Ltd., and Zhejiang Shengxiao Chemical Co Ltd.
North America dominated the market with the highest revenue share in 2021. In North America, parabens are extensively used as a preservative in cosmetic products owing to its anti-microbial properties. Makeup, moisturizers, hair care products, and shaving products are among the cosmetics that include parabens. These are extremely efficient at preventing the growth of fungus, bacteria, and yeast, which can lead to the spoilage of items. Parabens are primarily employed as preservatives to extend shelf life and inhibit the growth of mould and bacteria.
Butylparaben segment dominated the global parabens market in terms of revenue, in 2021. Butylparaben is used in most products, such as creams and lotions that are packaged in jars. Antimicrobial agents containing butylparaben include, antibacterial, antiviral, antifungal, and antiparasitic agents. It is an antimicrobial preservative used in many cosmetics, as a food flavoring agent and as a suspending agent for medications.
Others segment held the largest share of the global parabens market in 2021. The other applications of parabens are agrochemicals. Parabens act as chemical agents used on farmlands to improve the nutrients in the field or crops. Parabens are used as preservatives to boost crop development by killing pests. They are used in all farming applications, including horticulture, dairy farming, poultry, crop shifting, and commercial planting. Paraben preservatives in agrochemicals products protect crops by inhibiting microbe development, lowering moisture content, raising acidity, inhibiting natural ripening, and serving as an antioxidant.
The COVID-19 pandemic had moderate impact on the parabens industry. It also had an influence on the import and export of chemicals, such as parabens. During the pandemic, the purchase and consumption of cosmetics & personal care products sales decreased and thereby negatively impacted the parabens market, as the cosmetics & personal care industry is the major end-user of parabens.
However, the demand for parabens as food preservatives has grown during the pandemic due to its antibacterial properties. The antioxidant capacities of food preservatives are required by the food industry to extend product shelf life and prevent hazardous microbial activity. The rising demand for convenience and processed food incorporating antioxidant capabilities is propelling manufacturers to use food preservatives, such as parabens to enhance the shelf life of food products.
Key Benefits For Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the paraben market analysis from 2021 to 2031 to identify the prevailing paraben market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the paraben market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global paraben market trends, key players, market segments, application areas, and market growth strategies.
Paraben Market Report Highlights
Market Size By 2031
USD 164.8 million
CAGR of 6.2%
2021 - 2031
Key Market Players
Croda International plc, ZHEJIANG SHENGXIAO CHEMICAL CO LTD, the estee lauder companies inc., DuPont de Nemours, Inc., TORONTO RESEARCH CHEMICALS, JIANGSU HUANXIN HIGH-TECH MATERIALS CO. LTD, UENO FINE CHEMICALS INDUSTRY LTD, SHARON LABORATORIES, SHREEJI PHARMA INTERNATIONAL, HEXON LABORATORIES PRIVATE LIMITED, JOHNSON and JOHNSON CONSUMER INC., NU SKIN INTERNATIONAL INC, CENTRAL DRUG HOUSE (P) LTD., CHEMPOINT, SHANDONG AILITONG NEW MATERIAL CO. LTD
According to the perspective of the CXOs of leading companies, the parabens market is anticipated to grow in near future due to its extensive use in applications, such as pharmaceutical, cosmetics and personal care, food and beverages, and other end-use industries. Paraben is a class of preservation chemical used in the pharmaceutical industry for a variety of purposes. Parabens are p-hydroxybenzoic acid esters that are employed as antimicrobial preservatives in a variety of pharmaceutical formulations, such as oral solid dosage forms, parenteral, and topical medicines. The maximal potency of paraben is 0.04 mg in a prolonged action tablet formulation and 0.016% in an oral solution. Further, parabens are found in shampoos, conditioners, lotions, and face & shower cleansers.
Further, rising demand for processed food is driving the market growth. However, adverse effects of parabens such as skin irritation and reproductive difficulties are projected to hinder the market growth. The North America region is projected to register a robust growth during the forecast period.