Rapid urbanization and the increased development of novel products by key companies to meet rising demand are driving market expansion
Seoul, Sept. 30, 2022 (GLOBE NEWSWIRE) -- During the forecast period 2022-2032, the deodorants and antiperspirants market is expected to grow at a value of 5.1% CAGR, according to Fact.MR. By the year 2032, the global market for deodorants and antiperspirants is expected to rise up to a market valuation of US$ 44.5 Billion. Personal care products such as deodorant and antiperspirant are used to decrease or eliminate sweat and body odor. These products contain a range of ingredients, such as carriers, fragrance, and antibacterial agents. Furthermore, these chemicals increase the shelf life, wetness, and other qualities of deodorants and antiperspirants.
Growth in the deodorant and antiperspirant market is being driven by consumers' rising disposable money and growing awareness of personal cleanliness. Furthermore, rising urbanization and the increased launch of innovative goods by key rivals to fulfill expanding demand are driving market growth. Aluminum salt is an important ingredient in antiperspirants because it reduces sweat, reducing bacterial growth and body odor. The use of aluminum salt-containing antiperspirants causes the deposition of aluminum salts over the pores on the skin, which may be dangerous to some extent. Furthermore, deodorants and antiperspirants include propellants and volatile organic compounds that degrade the ozone layer, producing environmental imbalance. These medications should be used in moderation. These factors can hinder the market growth during the forecast period.
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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 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.
Companies to spend a lot on advertisements to Promote Brands Globally
R&D and advertising are propelling the market forward. These elements are being invested in by key parties in order to influence consumer purchasing decisions. Furthermore, the growing significance of celebrity endorsement and social media is influencing important market participants' advertising methods.
With the increase in online sales, deodorants and antiperspirants businesses are increasingly integrating photos and videos to encourage perfume and scent sales. Some online cosmetics merchants also allow customers to personalize their scents and aromas. As a result, the major market participants are actively investing in advertising and marketing to entice customers to use digital platforms.
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The bulk of firms have focused on new product launches and expanding manufacturing operations in emerging markets. Strategies include things like innovation, collaboration with key players, collaborations, strategic alliances, and the expansion of regional and global distribution networks.
Unilever has announced the release of its Degree deodorants for individuals with disabilities in 2021.
Procter & Gamble Company stated in 2021 that refillable cases of its Secret and Old Spice brand antiperspirants will be available. In addition, the company plans to expand its range of aluminum-free deodorants, which will be packaged in recyclable paper tubes made of 90% recycled paperboard and Forest Stewardship Council-certified paper (FSC).
The Procter & Gamble Company has announced the release of three new Old Spice product variations in 2021. The firm has named the three perfume sub-brands Dynasty, Sea Spray, and Royalty.
Prominent Players in the Deodorants and Antiperspirants Industry
Procter & Gamble
Henkel AG & Company, KGaA
Christian Dior SE
Marks and Spencer Group plc.
The Estée Lauder Companies Inc.
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Key Segments Covered in the Deodorants and Antiperspirants Market Report
By Product :
Sticks and Solids
Creams & Wipes
Sticks and Solids
By Fragrance :
Woody & Earthy
By Consumer Orientation :
By Sales Channel :
Other Sales Channels
By Region :
Middle East Africa
More Valuable Insights
Fact.MR, in its new offering, presents an unbiased analysis of the global deodorants and antiperspirants market, presenting historical analysis from 2017 to 2021 and forecast statistics for the period of 2022-2032.
The study reveals essential insights on the basis of deodorants and antiperspirants market analysis by product (deodorants, antiperspirants), by fragrance (floral, fruity, warm, woody & earthy, fragrance-free), by consumer orientation (women, men and unisex), by sales channel (modern trade, drug stores, convenience stores, beauty stores, online retail, other), and by region (North America, Latin America, Europe, East Asia, South Asia, Oceania, and Middle East & Africa).
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