The global deodorants and antiperspirants market is poised for steady expansion with a projected value CAGR of 5.1% over the forecast period spanning from 2022 to 2032. Commencing in 2022, the market’s dimensions are anticipated to widen, attaining a global market worth of US$ 27 billion. Bolstered by this consistent growth momentum and surging demand in the global market, the deodorants and antiperspirants sector is forecasted to achieve a substantial market valuation of US$ 44.5 billion by the year 2032.
This flourishing trajectory in the deodorants and antiperspirants industries can be attributed to several factors, including the rising disposable income of consumers and an increasing awareness of personal hygiene. Furthermore, market expansion is being driven by the ongoing process of urbanization, coupled with key competitors introducing innovative products to meet the escalating demand. A case in point is Unilever’s introduction of deodorant wipes in February 2019, which signifies a proactive response to evolving consumer preferences.
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Key Takeaways from the Market Study
- In 2022, the global deodorants and antiperspirants market is estimated to have a global market size of US$ 27 Billion
- In 2022, the deodorants segment by product type is expected to occupy a 65% market share and is expected to dominate the global market during 2022-2032.
- The women’s segment is projected to hold a global market share of 40% in 2022.
- The US is predicted to acquire 45% of the global market share in 2022 and grow with a 5% CAGR during 2022-2032.
- China is forecast to have a CAGR of 8% over the projection period of 2022- 2032.
Competitive Landscape:
The majority of corporations have concentrated on new product launches and growing production operations in emerging countries. Innovation, cooperation with important actors, partnerships, strategic alliances, and the growth of regional and worldwide distribution networks are examples of strategies. Some significant advances in the deodorants and antiperspirants market include:
- Unilever announced the launch of its Degree deodorants for people with impairments in 2021. The deodorant has a hook design, magnetic cap closing, and enhanced grip positioning to make it more accessible to persons with mobility or vision impairments.
- Procter & Gamble Company announced in 2021 that it’s Secret and Old Spice brand antiperspirants will be available in refillable cases. The business also intends to extend its line of aluminum-free deodorants, which will be packed in recyclable paper tubes consisting of 90% recycled paperboard and Forest Stewardship Council-certified (FSC).
- Procter & Gamble Company announced the debut of three product varieties of its brand Old Spice in 2021. The three scent sub-brands have been dubbed Dynasty, Sea Spray, and Royalty by the corporation. Aluminum-free claims are offered for all three types.
Prominent Players in the Deodorants and Antiperspirants Industry
- Unilever Plc.
- Procter & Gamble
- Henkel AG & Company, KGaA
- L’Oreal Company
- Beiersdorf AG
- Colgate Palmolive
- Victoria’s Secret
- Christian Dior SE
- Forest Essentials
- Marks and Spencer Group plc.
- The Estée Lauder Companies Inc.
During the projected period, the US market will be the most profitable for deodorants and antiperspirants. Personal care and grooming products, such as deodorants and antiperspirants, are popular among the American urban population. They are regular consumers of such products due to their high lifestyle and concern for sustaining the status quo. The Chinese market, on the other hand, is expected to be the fastest growing market for deodorants and antiperspirants. Since most Chinese people believed that perspiration was helpful because it detoxified the body, most deodorant and antiperspirant companies found it difficult to market their products in the country. However, as European and American traditions infiltrate the Chinese populace, tolerance and liking for deodorant and antiperspirant products has risen. Such factors will propel the growth in this region.
Key Segments Covered in the Deodorants and Antiperspirants Market Report:
· By Product :
- Deodorants
- Aerosol Sprays
- Sticks and Solids
- Creams & Wipes
- Antiperspirants
- Aerosol Sprays
- Roll-Ons
- Sticks and Solids
- Gels
· By Fragrance :
- Fruity
- Floral
- Warm
- Woody & Earthy
- Fragrance-free
· By Consumer Orientation :
- Women
- Men
- Unisex
· By Sales Channel :
- Modern Trade
- Drug Stores
- Convenience Stores
- Beauty Stores
- Online Retail
- Other Sales Channels
· By Region :
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- Middle East Africa
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Questionnaire answered in the Market outlook Report of Deodorants and Antiperspirants include:
- What is the key strategy deployed by large players to maximize Deodorants and Antiperspirants growth?
- What are the main challenges faced by players in the Deodorants and Antiperspirants Demand?
- With the advent of technological advancement, how will the Deodorants and Antiperspirants landscape change over the forecast period?
- What does player bring to the table which is unique as a strategy, and is easy to emulate for new investors in the Deodorants and Antiperspirants size?
- Analyzes how collaborations and partnerships among players from different industries shape the key growth dynamics in the near future
- Evaluates the role of various stages of funding on new growth avenues in key regional markets
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