Global Phenoxyethanol Preservatives Market – Concerns About Ill-effects to Human Health Continue to Suppress Market’s Growth
Phenoxyethanol preservatives or parabens are a variety of aromatic monoalkyl ethers that possess antibacterial properties, making them highly useful in ointments, cosmetics, detergents, and household cleaning products.
Phenoxyethanol preservatives are widely used in the home and personal care industry and also find many applications in the fields of dyes, inks, and pharmaceuticals. According to a report published by Transparency Market Research, the global phenoxyethanol preservatives market had a net valuation of US$95.8 million in 2013. The market is estimated to grow at a CAGR of 5.9% between the years 2014 and 2020 and reach a net value of US$143.2 million by 2020. The growth prospects are attributed to the robustly growing global market for cosmetics and an increasing shift of end-use sectors towards blends of phenoxyethanol.
Phenoxyethanol preservatives are of huge importance to manufacturers and formulators of finished goods. Manufacturers are well aware of the necessity of adding these preservatives to the products so as to ensure product safety, increase the durability of produced stock, and be in compliance with regional legislations.
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Hype about the ill-effects of Phenoxyethanol Preservatives to Human Tissues
Despite of these substances being non-toxic, certain theories about the ill-effects of phenoxyethanol preservatives, such as reproductive disorders, endocrine disruptions, and cancers, have led to concerns regarding their presence in personal care products.
A handful of studies have emerged in the past years studying any serious risks associated with the use of these substances to human tissues. However, the studies have mostly been inconclusive regarding the concern of serious harm from these substances to human cells. Nevertheless, the topic has sparked a debate in scientific circles, making it a popular controversy. Further hype from the mass media has largely propagated the controversy, tagging a shady identity to phenoxyethanol preservatives.
As a result, increasing demand for cosmetic products free of parabens has been observed in the past few years. The consumer is increasingly shifting towards natural and organic cosmetic products, which is leading to an increased ignorance towards products containing parabens. This shift in consumer preferences will come as the heaviest blow to the global phenoxyethanol preservatives market in the near future. However, there are still some other factors such as the availability of a vast number of cost-effective substitutes and regulatory guidelines regarding the amount of use of these substances in end products that can hinder the growth of the market.
But There’s good News Too!
Product manufacturers highly appreciate the preventive benefits of phenoxyethanol preservatives and demand for these products remains steady in home care and other end-use segments such as pharmaceuticals, dyes, and inks. The segment of wet wipes and tissues has also remained particularly high in terms of total revenue in past years.
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Companies have started making efforts to undertake detailed scientific studies and bring the results to the notice of consumers. A constant rise in such efforts will allow manufacturers to continue using phenoxyethanol preservatives in their products and communicate their safety and efficacy to the customers. While growth prospects for the global phenoxyethanol preservatives are currently modest, a larger awareness about safety of these products will help the market tap into the enormous opportunities presented by home and personal care industries.