Antiperspirants and Deodorants Market Scenario
The Global Antiperspirants and Deodorants Market 2020, according to MRFR, is poised to mature at a CAGR of 3.5% over the review period and secure a market value of USD 72 billion by the end of 2027.
Market Dynamics
The major factor likely to fuel the growth of the global antiperspirants and deodorants market outlook in the forthcoming years is the growing demand for antiperspirants and deodorants, particularly among the youth population. It is expected that women's increasingly growing demand for deodorants and antiperspirants will further fuel the global market for antiperspirants and deodorants in the future. In fact, it has been observed that women consumers have deodorants among the top items for daily grooming. Any additional reasons that are expected to further drive the global antiperspirant and deodorant market over the forecast timeframe are superior product features, eye-catching styles, and wrapping.
Growing population coupled with increasing disposable income is projected to boost the global demand for deodorants and antiperspirants in developing countries such as India and China. Increasing discretionary income helps the consumer to spend more on expensive goods, which plays a key role for such items. In the era of today, deodorants and antiperspirants have emerged as an essential product from being a non-essential product. Economic growth in rising economies, along with increased demand for youth-oriented goods and celebrity scents, is also projected to propel the global market for deodorants and antiperspirants.
Competitive Dashboard
CavinKare Pvt. Ltd. (India), Henkel AG Co. KGaA (Germany), L'Occitane International S.A. (Luxembourg), Nike, Inc. (US), L`Oreal S.A. (France), The Procter Gamble Company (US), Avon Products, Inc. (UK), Unilever Plc (UK), Coty Inc. (US), Beiersdorf AG (Germany), Colgate-Palmolive Company (US), Godrej Boyce Manufacturing Company Limited (India), Benetton Group S.r.l. (Italy), and Church Dwight Co., Inc. (US), Kao Corporation (Japan), are some of the key players in the global antiperspirants and deodorants market.
Segmentation
The global antiperspirants and deodorants market outlook has been segmented by product type, mode of distribution, and area.
The global demand for antiperspirants and deodorants was listed, depending on shape, as sprays, roll-ons, sticks, and others. The sticks group accounted for the highest sales share on the worldwide market for antiperspirants and deodorants in 2018. However, the spray segment is expected to show the highest growth rate during the forecast period.
On the basis of the sales system, the consumer demand for antiperspirants and deodorants has been divided between store-based and non-store-based. The store-based group was split further into malls, hypermarkets, convenience stores, and others. It is expected the store-based segment will hold the larger share of the global antiperspirants and deodorants market. The online segment is poised to register a higher rate of growth over the forecast period, however.
Regional Analysis
The global market for antiperspirants and deodorants has been studied in four key regions: North America, Europe, Asia-Pacific, and the rest of the world.
Throughout the projected era, the antiperspirants and deodorants market share in Asia-Pacific is expected to dominate due to the rising youth population, evolving consumer habits in countries such as China, India, and Japan, and customer spending on new and advanced personal grooming items.
The North American market is expected to report the highest growth rate during the projected period due to the focus on personal care, which contributes to significant personal hygiene spending. These factors are poised to drive the development of the global market for antiperspirants and deodorants over the projected period. The United States becomes the biggest user of deodorants and antiperspirants.
The antiperspirant and deodorant market insights in Europe is expected to be driven in the future by increasing demand for deodorants as an everyday grooming commodity, particularly from female buyers. Several additional variables that are expected to further drive the European antiperspirant and deodorant market over the forecast timeline are superior production features, eye-catching patterns, and packaging.
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