The deodorant
and antiperspirant market comprises deodorants and antiperspirants in spray
form as well as roll-on and stick/solid form. These products help keep body
odor at bay and reduce sweating. They contain ingredients like aluminum salts
that block pores and prevent sweating, as well as fragrances that mask body
odors. The global deodorant and antiperspirant market industry is witnessing
high demand for natural and organic alternatives due to increasing consumer
awareness about harmful chemicals in mainstream products.
The Global deodorant and antiperspirant market is estimated to be valued at US$
34.55 Bn in 2024 and is expected to exhibit a CAGR of 6.4% over the forecast
period 2024 to 2031.
Key Takeaways
Key players operating in the deodorant and antiperspirant market are Unilever,
Procter and Gamble, Godrej Consumer Products Ltd., Beiersdorf AG, Avon Products
Inc., Henkel AG and Co. KGaA, and CavinKare Pvt. Ltd. Unilever and Procter
& Gamble control a major share of the market.
The growing health and wellness trend and increasing awareness about personal
hygiene are driving Deodorant
and Antiperspirant Market Size products globally. Consumers are
increasingly preferring natural and organic formulations.
Major players are expanding their product lines and geographical presence to
capture the immense growth opportunities in emerging markets of Asia Pacific
and Latin America. The established markets of North America and Europe are
reaching saturation, pushing companies to target high-growth regions.
Market Key Trends
The key trend gaining traction in the deodorant and antiperspirant market is
the increasing consumer preference for natural and organic products formulated
with essential oils and botanical extracts instead of aluminum salts. Players
have launched natural brands and product lines using plant-based ingredients to
cater to health-conscious customers and appeal to their sustainability values.
Innovation in packaging and formats including sprays, roll-ons, and solid
sticks is another major trend, with companies offering customization options
like personalized scents.
Porter’s
Analysis:
Threat of new entrants: New companies find it difficult to compete against
established brands of Unilever, Procter & Gamble due to their premium brand
positioning, strong distribution network and marketing budgets.
Bargaining power of buyers: Due to availability of many brands, buyers can
easily switch between brands based on offers, discounts etc. However, switching
costs are low.
Bargaining power of suppliers: A few suppliers dominate the raw material supply
chain. However, suppliers have limited bargaining power as brands can find
alternative suppliers.
Threat of new substitutes: Alternatives like roll-ons provide competition but
sprays/sticks continue to be preferred for strong odor protection and
freshness.
Competitive rivalry: Intense competition between global giant consumer goods
companies to grab market share through new products, flavors and customization.
Geographical Regions:
North America accounts for the largest market share currently due to strong
personal grooming and hygiene culture. However, Asia Pacific region is expected
to witness highest growth during the forecast period with increasing disposable
incomes in countries like India and China leading to more demand.
Another fast growing region is Latin America led by Brazil where consumers are
adopting Western grooming habits fast. Improving economic conditions are
increasing spending abilities on personal care products in the region.
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And Antiperspirant Market
About Author:
Money Singh is a seasoned content writer with over
four years of experience in the market research sector. Her expertise spans
various industries, including food and beverages, biotechnology, chemical and materials,
defense and aerospace, consumer goods, etc. (https://www.linkedin.com/in/money-singh-590844163)
