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The Global Propylparaben Market was Valued at US$ 53.5 Mn in 2019 and it is Expected to Reach More than US$ 93.4 Mn by 2028, Likely to Grow with the CAGR of 6.3 % During the Forecast Period.
Propylparaben belongs to paraben family, found as a natural substance in some insects and plants. Although, it is produced synthetically for use in food items, pharmaceutical, and cosmetic products. The global propylparaben market is anticipated to witness phenomenal growth during the forecast period. Some of the factors fuelling the growth of global market include huge adoption as a preservative due to its antimicrobial property, wide range of applications, and low production cost.
Increasing Demand from Cosmetic Industry is anticipated to propel the Market Growth
Propylparaben is most commonly microbial preservative used in cosmetic industry. The chemical is used in several products including scrubs, shampoos, eye makeup products, deodorants, and lotions. The chemical also works at low concentration level which makes it preferable in several industry sectors. Propylparaben are also used in food items to prevent growth of unwanted fungi and bacteria and improve shelf life of products. Although, these chemicals are more effective in acidic medium but it can also be used in other mediums such as alkaline. Moreover, propylparaben is used in several healthcare products owing to its low production cost. The chemical is non-toxic in nature which makes it suitable for use in several drugs and can be consumed in different way such as injections and orally. Also, the FDA has approved this chemical to be used as preservative and labelled under GRAS (Generally Recognized As Safe) on animals and humans. These all factors are anticipated to surge the demand for these chemicals for multiple segments in forthcoming years.
Adverse Effects of These Chemicals and Threat from Internal Substitute Belonging to Paraben Family Might Hamper the Market Growth
Most of the chemicals belonging to paraben family offer similar functionalities and applications. The other parabens are methylparaben, propylparaben, butylparaben, and others. Threat of substitute from internal parabens is moderate to high which might hamper the market growth. Moreover, the parabens contain some adverse effects such as allergic problems and toxic effects on humans which is affecting the market growth. For instance, in 2014, European Union banned usage of some parabens including isopropyl paraben, benzyl paraben, isobutyl paraben, phenyl paraben, and pentyl paraben. South Africa has also restricted usage of benzyl paraben as it disrupts hormonal activities. These all factors are expected to hamper the market growth at a large extent.
North America is anticipated to Lead the Global Market During the Forecast Timespan
By geography, North America held highest share in 2019. The region is estimated to lead the global market throughout the assessment period. Significance presence of international manufacturers in U.S. is anticipated to favour the regional growth. The U.S. is the largest contributor for propylparaben market in North America. Furthermore, Asia Pacific is projected to witness rapid growth over the forecast period. Japan and China are among some of the largest chemical manufacturers in Asia Pacific. Rising disposable income and changing lifestyle are encouraging the consumers are expected to positively influence the regional growth.
Middle East and Latin America are projected to witness remarkable growth in coming years. The growth of these regions can be credited to significant growth in food service industry. Europe is anticipated to witness substantial growth as European Union has approved propylparaben although banned other chemicals from paraben family due to their toxic effects.
Key players operating in global Propylparaben market include Akema Fine Chemicals, Hainan Zhongxin Chemical Co., Ltd., Salicylates and Chemicals Pvt. Ltd., Alta Laboratories Ltd., Nebula Health Care, Anhui Leafchem Co., Avantor Performance Materials LLC, Cameo Health Care, The Good Scents Company, The Dow Chemical Company, and Argos international.
Global Propylparaben Market by End-Use Industry
- Personal Care
- Food & Beverages
- Agriculture/Animal Feed
Global Propylparaben Market by Region
- North America
- Asia Pacific
- Middle East & Africa
- Latin America