The global antiperspirants and deodorants market is experiencing steady growth, driven by increasing awareness of personal hygiene, especially among younger demographics. Valued at USD 62889 million in 2023, the market is projected to reach USD 81920.89 million by 2031, exhibiting a compound annual growth rate (CAGR) of 3.36% over the forecast period from 2024 to 2031.
The Antiperspirants and Deodorants Market Size was valued at USD 62889 million in 2023 and is expected to reach USD 81920.89 million by 2031, and grow at a CAGR of 3.36% over the forecast period 2024-2031.
Market Segmentation:
The antiperspirants and deodorants market is segmented based on product form and distribution channel:
- By Product Form:
- Spray
- Roll-On
- Sticks
- Others
- By Distribution Channel:
- Store-Based:
- Supermarkets and Hypermarkets
- Convenience Stores
- Others
- Non-Store-Based
Regional Analysis:
The market's growth is influenced by urbanization, rising disposable incomes, and heightened awareness of personal hygiene across various regions. As urban populations expand, especially in emerging economies, the demand for personal care products, including antiperspirants and deodorants, is on the rise. Additionally, increased consumer spending power contributes to the market's expansion.
Key Players:
The Key Players are Benetton Group S.r.l., Unilever Company, Procter & Gamble, L’Oreal Company, Avon Product Inc, Nike, Inc. , CavinKare Pvt. Ltd, Kao Corporation, Henkel AG & Company KGaA, Coty Inc., Beiersdorf AG, Godrej Consumer Products Ltd. , Church & Dwight Co., Inc. Colgate-Palmolive Company, L'Occitane International S.A. Other players.
Key Highlights:
- Growing interest in personal hygiene among younger generations is a significant market driver.
- Affordability and the availability of inexpensive deodorants and antiperspirants contribute to market growth.
- Innovations with new and improved formulas are attracting consumers.
- A shift towards natural ingredients, driven by health concerns, presents both challenges and opportunities.
- The "clean beauty" trend emphasizes transparency in product formulations, offering avenues for product development.
Future Outlook:
The antiperspirants and deodorants market is poised for continued growth, driven by social trends, product innovation, and economic factors. As consumers become more health-conscious, there is a notable shift towards products with natural ingredients and transparent formulations. Companies that prioritize innovation in this space are well-positioned to capture a significant share of the market.
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Conclusion:
The global antiperspirants and deodorants market is on a positive trajectory, with significant growth anticipated in the coming years. Manufacturers and stakeholders are encouraged to focus on product innovation and align with consumer preferences towards natural and transparent formulations to capitalize on emerging opportunities.
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