New York, April 27, 2023 (GLOBE NEWSWIRE) -- The most recent market analysis from Persistence Market Research projects that by 2023, the global Deodorant and Antiperspirant Ingredients Market will be worth US$32.86 billion. With a consistent growth rate of 5.1%, the market for deodorant and antiperspirant ingredients is anticipated to reach US$ 54.04 billion in value by 2033.
Deodorant and antiperspirant ingredients are used in personal care products to control body odor and sweating. Deodorants work by neutralizing or masking odor, while antiperspirants reduce sweating by blocking sweat ducts. The global deodorant and antiperspirant ingredients market has been growing in recent years, driven by increasing consumer awareness of personal hygiene and grooming, as well as changing lifestyles and rising disposable incomes. This research report provides an analysis of the current state of the deodorant and antiperspirant ingredients market, including market size, trends, drivers, challenges, and opportunities.
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Trends:
The deodorant and antiperspirant ingredients market is witnessing several trends that are shaping the industry. One of the major trends is the shift towards natural and organic ingredients. Consumers are becoming more conscious of the products they use on their bodies and are opting for natural and organic alternatives. As a result, many manufacturers are now offering deodorants and antiperspirants that are free from parabens, sulfates, and other harmful chemicals.
Another trend in the market is the rise of gender-neutral products. Traditionally, deodorants and antiperspirants were marketed towards either men or women. However, there is now a growing demand for gender-neutral products that cater to a wider range of consumers.
Drivers:
The deodorant and antiperspirant ingredients market is being driven by several factors. One of the key drivers is the increasing awareness of personal hygiene and grooming among consumers. As people become more conscious of their appearance and health, the demand for personal care products such as deodorants and antiperspirants is growing.
Another driver of the market is the changing lifestyles and rising disposable incomes of consumers. As people become busier and more affluent, they are willing to spend more on personal care products that can save them time and improve their overall well-being.
Challenges:
One of the major challenges facing the deodorant and antiperspirant ingredients market is the increasing concerns about the safety and efficacy of aluminum-based ingredients. Aluminum salts, which are commonly used in antiperspirants, have been linked to health issues such as breast cancer and Alzheimer's disease. As a result, many consumers are now seeking non-aluminum-based alternatives, which can be more expensive and less effective.
Another challenge facing the market is the increasing competition from natural and organic alternatives. As more consumers opt for natural and organic products, traditional deodorant and antiperspirant manufacturers are facing increased competition from smaller, niche brands.
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Opportunities:
Despite the challenges facing the deodorant and antiperspirant ingredients market, there are several opportunities for growth. One of the key opportunities is the rise of e-commerce and online sales. As more consumers turn to online shopping, manufacturers can expand their reach and target a wider audience.
Another opportunity is the growing demand for customized and personalized products. Many consumers are now seeking products that are tailored to their individual needs and preferences. As a result, manufacturers can develop products that cater to specific skin types, preferences, and lifestyles.
Market Segmentation
- By product type, the market can be divided into aerosol, stick, roll-on, and others. The stick segment is expected to have the largest market share due to its ease of use and portability.
- By ingredient type, the market can be categorized into aluminum salts, fragrance, antimicrobial agents, and others. The aluminum salts segment is anticipated to hold the largest market share due to its effectiveness in reducing sweat.
- By application, the market can be segmented into men’s deodorants and antiperspirants, women’s deodorants and antiperspirants, and unisex deodorants and antiperspirants. The men’s deodorants and antiperspirants segment is expected to hold the largest market share due to the increasing focus on personal grooming and hygiene among men.
Regional Analysis
North America is anticipated to hold the largest market share due to the high demand for personal care products in the region. The United States is the largest market in the region due to the high disposable income, high focus on personal grooming, and a large population. Europe is expected to be the second-largest market for deodorant and antiperspirant ingredients due to the increasing awareness of personal hygiene and the growing demand for natural and organic products. The United Kingdom, Germany, and France are the major markets in the region.
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Competitive Landscape
The deodorant and antiperspirant ingredients market is highly competitive, with several major players and numerous small and medium-sized companies. Here are some competitive insights: Unilever Company, Procter & Gamble Company, L’Oreal Company, Godrej Consumer Products Ltd., Beiersdorf AG, Avon Products Inc., Henkel AG & Company KGaA, CavinKare Pvt. Ltd.
Recent News
- At its Leeds factory, the largest deodorant factory in Europe, and its global deodorant R&D facility, where the corporation developed a "re-engineered spray system," Unilever corporation has invested significantly to open a new production line. A new "Green Aerosol" product concept that reduces the carbon footprint of an aerosol spray by 25% per can has been introduced by the company.
- For their Secret Clinical Strength deodorant line, Procter and Gamble used proprietary Betacyclodextrin (BCD) technology in the beginning of 2013. By using odor-neutralizing chemicals, this method aids in reducing body odour.
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