Phenoxyethanol Market Driven By Increasing Demand from Personal Care & Cosmetics Industry
Phenoxyethanol is a preservative used in cosmetics and personal care products. It is used as antibacterial, preservative, or stabilizer in soaps, cleansers, perfumes, and fragrances to prevent products from spoilage, as well as to maintain their effectiveness. Phenoxyethanol is also used as preservative in colorants, toner, ink, pharmaceutical products, and cleaning and furnishing home care products. Chemically, phenoxyethanol is known as a glycol ether or a solvent. It is listed as a vaccine ingredient in the United States, the European Union, and Japan. Growth of the phenoxyethanol market is mainly driven by the increasing demand from personal care and cosmetics industry. According to the Associated Chambers of Commerce and Industry of India (ASSOCHAM), the market size of India's beauty, cosmetic and grooming market will reach US$ 20 billion by 2025 due to increasing disposable income and growing youth population that is contributing to the exponential sales growth of grooming ...