Market Overview
Antiperspirants and Deodorants Market is growing vibrantly. The market growth majorly attributes to the rising awareness for personal hygiene, increasing per capita disposable incomes, and changing lifestyles of consumers. Market Research Future (MRFR), in its recent report on COVID-19 impacts on the global antiperspirants and deodorants market, states that the market is estimated to reach USD 70 BN by 2024, registering 3.5% CAGR during the forecast period (2020 -2024). On the other hand, allergy cases and adverse effects associated with the usages of these products might restrict the market growth. In the COVID 19 analysis of the antiperspirants and deodorants market, MRFR experts mention that while the 25-35 age group is the key consumer, there is significant interest in the age groups 17-45 for these products. Antiperspirants and deodorants are here to stay, and hence, manufacturers need to evolve their product choices.
Consumers expect their antiperspirants and deodorants to be more than what they are meant for. This trend offers a diverse and extensive opportunity for brands to develop new products, sweeping through the world. Surprisingly, manufacturers are enthusiastically responding to the trend, increasingly bringing new products, such as acid-peel pads for armpits, glycolic acid deodorant wipes, and many more. To bring new products, manufacturers are clubbing together, antiperspirant ideas, and multifunctional benefits. They are also investing substantial R&D funds and efforts to launch innovative products that can meet changing consumer needs and demand. Another such trend is increasing consumer preference for deodorants that can last long regardless of environmental influences such as pollution, humidity, exercise, and daily activities.
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This trend is growing because consumers want to keep sweat away during exercise and throughout the day. To match this trend, manufacturers have come up with breathable and non-greasy products. They concentrate on developing products that can resist sweat during exercise and humid weather. The third trend in the market is products made of natural ingredients. Natural products are gaining mainstream attention; to respond to this trend, manufacturers are moving towards customer and sustainability. They are adding natural options to their antiperspirants and deodorant line up. To drive market sales, industry players try to establish transparent relationships with consumers. They listen to them and their scent suggestions, partner with the charities, and provide active customer service. Manufacturers incorporate smart packaging solutions that accentuate on delivering new product functionalities.
Industry players try to bring new creations paired with apps that strengthen opportunities, raise awareness, and provide multiple touchpoints by connecting the online retail sector with in-store activity. Also, industry players collaborate with other companies to expand into different product categories, to increase their global reach, to develop new products, and to reach to customers sooner. They choose companies that strategically fit into their personal-hygiene business and allow them to reach new consumers. They use social media platforms for marketing and to run their advertising campaigns. Further, they utilize their personal-care leadership to extend new sales channels in various geographies.
Competitive Analysis
Highly competitive, the antiperspirants and deodorants market appears fragmented due to the presence of several well-established brands. Continually changing consumer preferences & demands encourage industry players to come up with innovative ideas and variations such as made with natural ingredients, with longer-lasting effects, etc. These players are ready to invest in R&D required for further formulation work. Manufacturers strive to expand their footprints in regions where climatic conditions are humid, such as the APAC and the MEA.
Players leading the Global Antiperspirants and Deodorants Market are Nike, Inc. (US), Henkel AG & Co. KGaA (Germany), The Procter & Gamble Company (US), Coty Inc. (US), Unilever Plc. (UK), Kao Corporation (Japan), L’Oreal S.A. (France), Beiersdorf AG (Germany), Avon Products, Inc. (UK), L’Occitane International SA (Luxembourg), Colgate-Palmolive Company (US), Godrej & Boyce Manufacturing Company Limited (India), CavinKare Pvt. Ltd. (India), Benetton Group S.r.l. (Italy), and Church & Dwight Co., Inc. (US), among others.
Industry/Innovation/Related News
May 27, 2020 – An eco-friendly deodorant brand ‘Wild’ that launched just one month ago, declared that its natural refill deodorant has made over 20,000 sales in its first 20 days of business. Products are sold off completely, highlighting the growing consumer preference for small scale ethical brands. Wild deodorant is the world’s first 100% compostable and biodegradable product and is currently growing at a rate of more than 200% month-on-month.
Market Segment
The report is segmented into three dynamics.
By Form: Sprays, Roll-On, Sticks, and others.
By Distribution Channel : Store-based and Non-Store-based.
By Regions: Americas, Europe, Asia Pacific, and Rest-of-the-World
Regional Analysis
The Asia Pacific region dominates the global antiperspirants and deodorants market. The largest market share attributes to the growing youth population and changing lifestyles of demographics that primarily rely on antiperspirants and deodorants to maintain personal hygiene. Besides, climatic conditions and the impact of pollution and humidity in this region are pressing concerns for many. That makes antiperspirants and deodorants important for demographics to enhance their social lives.
People in this region prefer long-lasting antiperspirants and deodorants that can work regardless of environmental influences (pollution, humidity, exercise, and daily activities). This trend is sweeping through the entire region, appealing to multiple demographics, and offering a huge opportunity for brands to develop new products. Also, the region attracts foreign investors with its raw material advantages and a cost-competitive workforce. Additionally, the rapidly growing economy in the region plays a causal role in market development.
The Middle East & Africa region is another significantly growing market for antiperspirants and deodorants. The market is brisk, especially in the Middle East, due to humid climatic conditions and huge emphasis & expenditures on personal hygiene. Every year, there is a substantial rise in deodorant sales in the Middle Eastern markets. Hence, the MEA antiperspirants and deodorants market is estimated to create a considerable revenue pocket during the review period.
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NOTE: Our Team of Researchers are Studying Covid19 and its Impact on Various Industry Verticals and wherever required we will be considering Covid19 Footprints for Better Analysis of Market and Industries. Cordially get in Touch for More Details.
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