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Report
Deodorants Market - Growth, Trends, and Forecasts (2023 - 2028)
Market Report I 2023-01-23 I 130 Pages I Mordor Intelligence
The global deodorant market is projected to register a CAGR of 6.8% during the forecast period.
Key Highlights
Currently, the deodorant market is experiencing steady growth globally. The growing demand for natural ingredients in deodorant products is driving the sales of organic deodorants in the United States. Lighter scents, such as deodorants and body mists, are popular among young people. This prompted the deodorant market size.
As young consumers are attracted to natural products, this provides an excellent opportunity for companies to innovate products using natural ingredients to increase their market share. Emerging countries, such as India, where the concentration of the young population is high, are projected to offer potential opportunities for companies to grow.
Changing lifestyles and increase in product availability are various factors boosting sales in developing regions. Additionally, the rising awareness about hygiene results from consumer awareness and the socialization of consumers. Smelling good is a sign of good hygiene and etiquette. Consumers wear deodorants regularly to maintain their hygiene, which leads to increased usage. Hence, for the middle-income group, companies are launching cheap and effective products.
For instance, in February 2021, Old Spice launched innovative refillable antiperspirants and cases at select retailers. With a suggested retail price of USD 10.00 for each refill starter kit and USD 8.00 for each refill, this is one of the most affordable refill options on the market.
Deodorants Market Trends
Growing Concern About Hygiene and Freshness
Increasing consumer inclination towards being presentable, sweat-free, and odor-free for 24 hours leads the key players to manufacture products that are clinically proven to stay for more than 24 hours on the body. As such most of the leading players in the deodorant market have introduced a product line that can keep up to 24 hours.
For instance, in March 2022, the P&G's Secret brand launched a new weightless dry spray collection in the United States that includes antiperspirant and aluminum-free options. The antiperspirant provides lasting sweat and odor protection for up to 48 hours, and the aluminium-free deodorant provides long-lasting odor protection for up to 24 hours. Furthermore, the market also witnesses increasing concerns about hygiene, especially among women.
Deodorant sprays that ensure the hygiene of females are being launched across the region by leading companies like Unilever, P&G, etc. Thus, product innovation has been continuously driving the growth of the market. Moreover, special deodorants are manufactured for athletes and those who do extensive workouts, which can result in irritation and bad odor.
To maintain their hygiene, athletes often use aluminum-free deodorants with odor-block formula. Thus, deodorants are increasingly being used among consumers of various income levels and ethnic groups in the region to maintain body hygiene. This is expected to drive market growth in the forecast period.
The Demand for Sustainable and Natural Deodorants in Europe
Across Europe, consumers are demanding more natural, organic, and sustainable formulations. On the other hand, consumers seek products that can be used anytime, such as that roll-ons and sprays, and are finding the balance in terms of novel fragrances. Leading European deodorant/antiperspirant brands to promote highly effective formulations, which are essential for daily personal care routines.
Furthermore, consumers are open to new concepts. The natural and organic deodorant market has come a long way, and new product launches by significant companies have been more creative. Market participants are also establishing new collaborations with retailers as part of their efforts to broaden their market reach.
For instance, in November 2021, Wild, a United Kingdom-based eco-friendly deodorant brand, announced new partnerships with some of the United Kingdom's leading supermarkets, retailers, and department stores to expand their market reach in the region. Growing awareness among consumers about sustainable consumption and eco-friendly purchases has led Wild to develop a brand that is dedicated to sustainability. Furthermore, the emergence of younger consumers led to more selective purchasing.
Deodorants Market Competitor Analysis
The global deodorant market is competitive, with multinational players occupying the major share of the market. New product innovation, partnerships, mergers and & acquisitions to expand market reach are the main strategies of the market players. New products free from harmful ingredients and new formats and sustainable packaging are gaining popularity. Major players in the market include Procter & Gamble Co., Unilever PLC, Revlon, Inc., LOreal SA, and Beiersdorf AG, among others.
Additional Benefits:
The market estimate (ME) sheet in Excel format
3 months of analyst support
1 INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Drivers
4.2 Market Restraints
4.3 Porter's Five Forces Analysis
4.3.1 Threat of New Entrants
4.3.2 Bargaining Power of Buyers/Consumers
4.3.3 Bargaining Power of Suppliers
4.3.4 Threat of Substitute Products
4.3.5 Intensity of Competitive Rivalry
5 MARKET SEGMENTATION
5.1 Product Type
5.1.1 Spray
5.1.2 Creams
5.1.3 Roll-on
5.1.4 Other Product Types (Wipes, Gel, Sticks, etc.)
5.2 Distribution Channel
5.2.1 Supermarkets/Hypermarkets
5.2.2 Convenience Stores
5.2.3 Pharmacies & Drug Stores
5.2.4 Online Retail Stores
5.2.5 Other Distribution Channel
5.3 Geography
5.3.1 North America
5.3.1.1 United States
5.3.1.2 Canada
5.3.1.3 Mexico
5.3.1.4 Rest of North America
5.3.2 Europe
5.3.2.1 Spain
5.3.2.2 United Kingdom
5.3.2.3 Germany
5.3.2.4 France
5.3.2.5 Italy
5.3.2.6 Russia
5.3.2.7 Rest of Europe
5.3.3 Asia-Pacific
5.3.3.1 China
5.3.3.2 Japan
5.3.3.3 India
5.3.3.4 Australia
5.3.3.5 Rest of Asia-Pacific
5.3.4 South America
5.3.4.1 Brazil
5.3.4.2 Argentina
5.3.4.3 Rest of South America
5.3.5 Middle East
5.3.5.1 South Africa
5.3.5.2 United Arab Emirates
5.3.5.3 Rest of Middle East
6 COMPETITIVE LANDSCAPE
6.1 Most Adopted Strategies
6.2 Market Share Analysis
6.3 Company Profiles
6.3.1 Unilever PLC
6.3.2 Procter & Gamble Company
6.3.3 Revlon, Inc.
6.3.4 L'Oreal S.A.
6.3.5 Colgate-Palmolive Company
6.3.6 Church & Dwight Co., Inc.
6.3.7 The Estee Lauder Companies Inc.
6.3.8 Maxingvest AG (Beiersdorf AG)
6.3.9 L'Occitane Groupe S.A.
6.3.10 Natura & Co
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