New Zealand Phenoxyethanol will grow at highest pace owing to increasing adoption in personal care products
Phenoxyethanol, commonly known as 1-Hydroxyethyl-2-phenoxyethanol, is an aromatic glycol ether compound used as a preservative in cosmetics, skincare, and personal care products. It inhibits the growth of microorganisms like bacteria, yeasts and molds. Phenoxyethanol is preferred over traditional preservatives as it provides effective protection against pathogens and has relatively low toxicity. It is soluble in oils, alcohol and water making it suitable to be used in various product types. Phenoxyethanol protects the product integrity throughout its shelf life by preventing degradation and spoilage.
The Global Phenoxyethanol Market 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 New Zealand Phenoxyethanol are BASF SE, Clariant International Ltd., Galaxy Surfactants Limited, Jiangsu Jiafeng Chemical Co. Ltd., Haihang Industry Co. Ltd. and Among Others. Phenoxyethanol is widely used preservative in personal care and cosmetics products such as skin creams, lotions, sunscreens, shampoos and hair colors. Growing awareness about natural preservatives along with rising income levels is propelling the demand for phenoxyethanol from personal care industry. Leading personal care brands are incorporating phenoxyethanol in their natural and organic product ranges which is anticipated to significantly drive its consumption over the coming years. Technological advancements are focused on development of green phenoxyethanol with minimum toxic effects to expand its application in cosmeceuticals and food preservation.
Market Trends
Increasing preference for multi-functional ingredients: Formulators are opting for phenoxyethanol owing to its unique attribute of acting as both preservative and solvent. This reduces production costs and complexity of personal care products.
Rising popularity of DIY trend: Phenoxyethanol solutions are increasingly being used by hobbyists and individuals for home-made personal care and craft products like soaps, scrubs and decorative items due to easy availability drive its sales.
Market Opportunities
Growing demand from food preservatives market: Research on commercialization of phenoxyethanol as antimicrobial agent for food preservation is projected to open lucrative opportunities especially in Asia Pacific region over medium term.
Expanding application in agrochemicals sector: Ongoing R&D activities demonstrate the potential of phenoxyethanol as plant growth regulator and pesticide active ingredient. Successful commercialization could significantly boost phenoxyethanol consumption.
Impact of COVID-19 on New Zealand Phenoxyethanol market growth
The outbreak of COVID-19 pandemic had a significant impact on the growth of New Zealand phenoxyethanol market in the initial months. The imposition of nation-wide lockdowns resulted in shutdown of manufacturing facilities and disruptions across supply chains. This adversely impacted the production and supply of phenoxyethanol. With people spending more time at home, the demand for personal care and cosmetic products also declined sharply. However, as restrictions began easing from mid-2020, the market saw steady recovery. The rising focus on hygiene and demand for disinfectants and sanitizers boosted the usage of phenoxyethanol as a preservative in such products. While travel restrictions impacted the export revenues initially, investments in infrastructure and development of alternatives helped restore supply chains. Going forward, the market is expected to grow steadily with rising uptake in end-use industries like cosmetics, healthcare and homecare driven by increased awareness about cleanliness and personal hygiene. Phenoxyethanol manufacturers need to strengthen distribution channels and invest in digital technologies to enhance resilience against future disruptions.
Concentration of New Zealand phenoxyethanol market by regions
In terms of value, the New Zealand phenoxyethanol market is highly concentrated in the North Island region. It accounts for over 60% share of the overall domestic market owing to presence of major manufacturing facilities and industrial clusters. The strong healthcare, personal care and FMCG industry base in cities like Auckland and Wellington drives high demand. The South Island region is the second largest market and contributes around 30% value share. It is an important export hub stimulated by well-established ports that facilitate trade with key Asian and European markets. Other islands collectively make up the remaining 10% share with growth led by increasing local production.
Fastest growing region in the New Zealand phenoxyethanol market
The central North Island region comprising Manawatu-Wanganui, Taranaki and Hawke's Bay is emerging as the fastest growing market for phenoxyethanol in New Zealand. It is witnessing annual growth rate of over 8% driven by expanding manufacturing sector and growing exports. The region offers strategic location and trade access via port cities like Napier and New Plymouth. Major industrial players are investing in new production facilities to tap into rising export demand from Asia-Pacific countries. Initiatives to develop specialty chemical clusters and attract overseas investments are further boosting GDP growth. The phenomenal double digit growth of cosmetic and FMCG goods produced locally is also propelling phenoxyethanol consumption. With a thriving industrial base taking shape, the central North Island is fast emerging as an engine of growth for New Zealand phenoxyethanol industry.
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?
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