The Global Deodorants Market is Forecast to Reach US$17.3 Billion by 2020
The Surging Male Grooming Sector Drives Growth in the Deodorants
Market, According to a New Report by Global Industry Analysts, Inc.
GIA announces
the release of a comprehensive global report on Deodorants. The
global Deodorants market is forecast to reach US$17.3 billion by 2020,
driven by the steadily rising per capita spending on men's personal care
products
Defined as a
cosmetic preparation developed to conceal and suppress unpleasant body odors, deodorants
are today universally used. Deodorants are considered cosmetics, as they are non-therapeutic
and do not alter the basic function of sweat glands. The growing emphasis on
the importance of personal hygiene is benefiting sales of deodorants in the
global market. The continuing massive urbanization in emerging markets and its
influence on consumer purchasing patterns, of discretionary products such as beauty
and luxury goods, will benefit sales of deodorants. Other key factors driving
growth in the market include rising levels of employment, double-digit wage
growth, increase in the number of dual income families, and the desire to purchase
aspirational brands among the expanding base of affluent middle class
population. While women represent a traditionally large consumer sector, the
rapidly emerging male grooming market will offer opportunities for future
growth. Increased spending by men on personal grooming products will help boost
sales in the market. Premiumization of the personal care industry and
globalization of cosmetic brands are expected to benefit sales of branded
products.
The growing
concerns over the health hazards caused by cosmetics present a real opportunity
for organic and natural deodorants. Manufacturers are therefore focusing on the
development of products featuring certified organic ingredients free of parabens,
polyethylene glycols (PEGs), and hormone-disrupting chemical fragrances and petrochemical
ingredients. Products featuring organic ingredients like coconut oil, and essential
oils are therefore forecast to witness maximum growth. Future growth in the market will also be supported by packaging
innovations, line extensions, and value added product features such as no-white
marks and no-yellow stain sprays. The demand
in developed market will be driven by the development of long-lasting products
that offer quick and effective protection against odor. Spray deodorants constitutes
the largest market segment, followed by stick and solid deodorants. Roll-On
deodorants are poised to register the fastest growth in the coming years, supported
by convenience and ease-of-use benefits.
As stated by the
new market research report on Deodorants, Europe represents the largest market worldwide. Asia-Pacific ranks as the fastest growing market
with a projected CAGR of 7.5% over the analysis period. The growth in the
region is driven by rapidly growing population, rising standards of living,
increased spending on personal hygiene products, and the adoption of an active,
on-the-go lifestyle among the expanding base of educated and affluent middle
class population. Underpenetrated markets of India and China will especially
drive growth in the region.
Major players covered
in the report include Avon Products Inc., Beiersdorf AG, CavinKare Pvt. Ltd.,
Church & Dwight Co. Inc., Colgate-Palmolive Company, Elder Health Care
Ltd., Henkel AG & Co., KGaA, HYPERMARCAS S.A, Lion Corporation, Mandom
Corporation, Marico Limited, McNROE Consumer Products Pvt. Ltd., Oriflame
Cosmetics S.A., Procter & Gamble Company, Revlon Inc., Tom's of Maine Inc,
Unilever N.V., Verdan SÃ rl., among others.
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