Paraben Market Size

Paraben Market size is poised to reach USD 5 Billion by the end of 2036, growing at a CAGR of 5% during the forecast period, i.e., 2024-2036. In the year 2023, the industry size of paraben was USD 3 Billion. The reason behind the growth is impelled by the growing chemical industry across the globe. The global chemical industry is likely to experience strong growth since it plays an important role in meeting basic needs improving quality of life, and contributing to economic growth for people around the world.

According to estimates, the global chemical market is expected to grow by more than 3% between 2024-2028, reaching a market size of around USD 1 trillion in 2028.The growing demand for water-based cosmetics is believed to fuel the paraben market growth. Parabens can be used as preservatives in many water-based cosmetics such as creams and lotions as they offer a wide range of antimicrobial properties.