New York, Oct. 12, 2021 (GLOBE NEWSWIRE) -- Toothpaste Market: Key Insights
According to our new research study on "Toothpaste Market to 2028 – Global Analysis and Forecast – by Type, End-User, Base Type, Distribution Channel, and Geography," the Toothpaste Market Size is projected to reach US$ 40,766.21 million by 2028 from US$ 29,598.97 million in 2021; it is expected to grow at a CAGR of 4.7% from 2021 to 2028.
Toothpaste Market: Competitive Landscape and Key Developments
Procter & Gamble; Unilever; GlaxoSmithKline Plc.; Colgate-Palmolive Company; Henkel Ag & Company KGAA; 3M; Sunstar Suisse S.A.; Lion Corporation; Beverly Glen Laboratories, Inc.; and The Himalaya Drug Company are among the key players in the toothpaste market. The major players are striving to expand their customer base and increase their presence globally to acquire a better market position.
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Asia Pacific held the largest share of the toothpaste market in 2020. A strong customer base, a rise in consciousness about oral health and hygiene, and lifestyle changes are among the major factors driving the toothpaste market. In India, tooth sensitivity is highly prevalent. There is a high demand for need-based offerings in the region, such as toothpaste addressing tooth sensitivity, whitening toothpaste, gel-based toothpaste, or toothpaste with herbal and natural ingredients. With a marked shift in consumer demand for natural toothpaste, the toothpaste market's natural and herbal subsegment is growing faster.
The rising expenditure made on marketing and advertising by leading brands such as Procter & Gamble, Colgate, and Unilever, has surged their product sales and demand. For instance, as per the data published by Colgate Palmolive in July 2020, Colgate advertisement investment was worth US$ 416 million in 2019, which is a rise of 3% from the previous year. Toothpaste usage in countries such as India and Brazil is comparatively lower than in countries such as the US, which signifies the market's potential. For instance, based on the US Census data and Simmons National Consumer Survey (NHCS), 71.07 million Americans used toothpaste four times or more on an average day in 2020. As a result, companies invest massive amounts in promotional and advertising activities to attract consumers and launch and innovate new products to provide a wider variety of products to consumers and on the digital advertisement and campaigns to increase and maintain their popularity.
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Toothpaste Market: Segmental Overview
Based on type, the toothpaste market is segmented into sensitivity, whitening {anti-cavity and others}, herbal/natural, smokers, and medicated. The whitening segment accounted for the largest share of the market in 2020. The herbal segment is expected to grow at the fastest rate, owing to the increasing demand for natural products across the globe. Based on end-user, the market is segmented into adults and kids. The kids segment accounted for a small share of the market; however, it is expected to witness growth, owing to the increasing product launches by the key players to attract kids.
Based on base type, the market is segmented into gel-based and non gel-based. The gel-based segment is expected to grow at the fastest CAGR, owing to the wide variety of flavors available in gel-based toothpaste. The non gel-based segment accounted for a significant share and is also expected to witness considerable growth over the forecast period.
Based on distribution channel, the market is segmented into supermarkets and hypermarkets, convenience stores, online retail, and drug stores/pharmacies. The supermarkets and hypermarkets accounted for the largest share of the market. A high number of visitors and availability of an array of options are the major factors fueling the market growth of this segment. However, the online retail segment has emerged as a significant channel, especially during the COVID-19 pandemic. As a result, the online retail segment is expected to register the highest CAGR in the market during 2021–2028.
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Impact of COVID-19 Pandemic on Toothpaste Market:
The COVID-19 pandemic has led to a decline in operational efficiencies and interrupted supply chains due to the sudden shutdown of national and international boundaries. Disruptions in supply chains have restricted the movement of goods, which, in turn, is hindering the distribution and manufacturing of toothpaste as well. The worldwide lockdown, owing to the COVID-19 pandemic, has especially inclined consumer buying behavior by shaping consumer purchasing habits. As a result of the outbreak, there is a shift in consumer inclination toward hygiene products. Moreover, the tendency of consumers toward products free from additives and toxic chemicals has been a critical factor propelling the demand for herbal toothpaste products during this lockdown. Due to these preferences, consumers opt for products comprising natural ingredients as an adverse effect on health owing to the chemicals and additives present in the products. Moreover, lockdowns resulted in a steep decline in sales of toothpaste through supermarkets and hypermarket channels. However, the drop in revenue from these store-based distribution channels is considerably compensated through online channels.
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