Global Antimicrobial Ingredients Market is expected to grow at a CAGR of 4.11% during the forecast period from 2018-2025
Fior Markets launched a study titled Antimicrobial Ingredients Market by Product (Antibacterial Agent, Antifungal Agent, Antiviral Agent, and Antiparasitic Agent), Form (Dry and Liquid), End-use, Region and Global Forecast 2018-2025.
The global antimicrobial ingredients market is expected to grow from USD 7,820 Million in 2017 to USD 10,720 million by 2025 at a CAGR of 4.11% during the forecast period from 2018-2025. The importance of antimicrobial ingredients in extending the shelf life of cosmetic products is a key factor driving the growth and adoption of these products. Manufacturers of personal care and cosmetic products are in collaboration with leading scientific research organizations inventing safe products and lowering the adverse properties of existing natural ingredients.
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Antibacterial agents based segment held the largest share of 41.28% in 2017
The product segment is classified into antibacterial agent, antifungal agent, antiviral agent, and antiparasitic agent. Antibacterial agents held the largest market share in 2017. Majority of antimicrobial ingredients produced in the future will be used in manufacturing skin care products which will lead to increased sales. Their importance in protecting cosmetic products from common bacterial outgrowth are driving the growth of the segment.
Dry based segment is expected to grow with the highest CAGR of 5.83% in the forecast period
Form segment includes dry and liquid based. Dry segment is expected to grow with the highest CAGR of 5.83% in the forecast period and it is expected that majority of antimicrobial agents produced in future will be in dry form. In addition to this, low cost for the production of antimicrobial ingredients in dry form is expected to increase the profit margins for key players, these are some of the key factors to drive the demand of the segment.
Skin care was valued around USD 1,720.41 million in 2017
End use segment is divided into segments such as skin care products, hair care products, oral care products, make-up products and other cosmetic. Skin care segment is playing a chief role in shaping business growth and was valued around USD 1720.41 million in 2017. These ingredients are being introduced in the formulations of skin care products to extend shelf life and reduce risks of side-effects caused by microbial activities.
Regional Segmentation Analysis:
The market is analysed on the basis of five regions namely North America, Europe, Asia Pacific, South America, and Middle East and Africa. Asia Pacific region is expected to grow with the highest CAGR of 5.6% in the forecast period. This can be attributed to easy procurement of raw materials in developing countries.
The major players of market include BASF SE, Ashland Global Holdings Inc., Lonza Group Ltd., Croda International Plc., The Dow Chemical Company, Clariant AG, Akzo Nobel N.V., Solvay SA, Evonik Industries AG, and Wacker Chemie AG, Pfizer Inc., Destiny Pharma plc Merck & Co., Inc., Novartis and others.
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- CDN Newswire