June 16, 2024
New Zealand Phenoxyethanol Market

The New Zealand Phenoxyethanol Market is poised to expand by 6.2% over 2024-2031

Phenoxyethanol is an aromatic alcohol and a preservative widely used in cosmetic and personal care products such as lotions, creams and bath products due to its effectiveness against bacteria, yeast and molds. It protects the product from microbial degradation during use by the consumer. It effectively enhances the shelf life of products without altering their appearance, odor or texture.

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 Phenoxyethanol market are BASF SE, Clariant International Ltd., Galaxy Surfactants Limited, Jiangsu Jiafeng Chemical Co. Ltd., Haihang Industry Co. Ltd. and Among Others. BASF SE is one of the largest producers and suppliers of phenoxyethanol globally.

The rising demand for personal care and cosmetic products is fueling the growth of the phenoxyethanol market. Phenoxyethanol is widely used as a preservative in cosmetic products such as shampoos, creams, lotions and makeup due to its efficiency against microbial contamination. Rapid urbanization, rising living standards and growing consciousness about appearances are propelling the demand for various personal care products.

The phenoxyethanol market is expanding globally with growing exports from key producing countries and widening application base across industries. China dominates the global production of phenoxyethanol. However, manufacturers are also exploring growth opportunities in developing regions of Asia Pacific and Latin America with rising preference for natural preservatives in cosmetic formulations.

Market Key Trends

The increasing demand for multipurpose natural preservatives is one of the key trends in the phenoxyethanol market. Consumers are increasingly looking for natural and eco-friendly personal care products. Phenoxyethanol which is derived from green tea and glucose is gaining popularity as it is categorized as generally recognized as safe (GRAS) by the FDA. It is a popular choice for formulating natural and organic personal care products. Manufacturers are focusing on phenoxyethanol for developing clean label products catering to sustainable preferences of consumers.

Porter’s Analysis

Threat Of New Entrants: New companies find it difficult to establish due to high initial investment.

Bargaining Power Of Buyers: Buyers have moderate bargaining power due to presence of several existing players.

Bargaining Power Of Suppliers: Suppliers have moderate bargaining power due to availability of substitute raw materials.

Threat Of New Substitutes: Threat from new substitutes is moderate as they need to gain consumer acceptance.

Competitive Rivalry: Intense competition exists between existing key players to gain higher market share.

The geographical region where the New Zealand Phenoxyethanol market in terms of value is highly concentrated is Asia Pacific. This region accounts for over 40% share of the total market value currently. North America is another major region for this market currently.

The fastest growing region for the New Zealand Phenoxyethanol market during the forecast period from 2024-2031 is expected to be Asia Pacific. This is mainly attributed to rising disposable incomes, growing awareness about personal care products and rapid expansion of cosmetics industry in countries like India and China in this region.

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