Pune, India, July 12, 2023 (GLOBE NEWSWIRE) -- The global deodorant market size was valued at USD 24.36 billion in 2022 and is poised to expand from USD 25.16 billion in 2023 to USD 37.44 billion by 2030, exhibiting a CAGR of 5.57% over the estimated period. The surge is driven by increasing product demand from individuals involved in health activities such as bicycle riding, yoga, jogging, and others.
Fortune Business Insights™ cites this information in its research report, titled “Deodorant Market, 2023-2030”.
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List of Key Players Profiled in the Deodorant Market Report:
- Unilever PLC (U.K.)
- Procter & Gamble (U.S.)
- Beiersdorf AG (Germany)
- Henkel AG & Co KGaA (Germany)
- L'Oreal S.A. (France)
- Sky Organics (U.S.)
- Speick Natural Cosmetics (Germany)
- Truly's Natural Products (U.S.)
- Erbaviva (U.S.)
- Spirit Nest (U.S.)
- EO Products (U.S.)
- Elsa's Skincare (U.S.)
Report Scope & Segmentation:
| Report Attributes | Details |
| Forecast Period | 2023-2030 |
| Forecast CAGR | 5.57% |
| 2030 Value Projection | USD 37.44 Billion |
| Market Size in 2022 | USD 24.36 Billion |
| Historical Data | 2019-2021 |
| No. of Pages | 185 |
| Report Coverage | Revenue Forecast, Company Profiles, Competitive Landscape, Growth Factors and Latest Trends |
| Segments Covered |
|
| Regions Covered |
|
| Deodorant Market Growth Drivers | Increasing Consciousness Regarding Personal Grooming to Aid Market Expansion |
| Manufacturers Focus on Introduction of Innovative Products to Favor Market Growth |
Browse Detailed Summary of Research Report with TOC:
https://www.fortunebusinessinsights.com/deodorant-market-102687
Report Coverage:
The report gives a comprehensive analysis of the key trends impelling industry expansion across various regions. It further delves into the vital aspects augmenting the global market share over the projected period. These insights have been furnished after extensive research from credible sources.
Drivers and Restraints:
Market Value to Rise Driven by Growing Consciousness Associated with Personal Grooming
The deodorant market growth is being impelled by the soaring consciousness with regards to personal grooming. Additional factor favoring industry expansion is an increase in the promotional campaigns of fragrance and cosmetic products through social media, print media, radio, and television.
However, the industry expansion may be hampered by the possibility of skin allergies.
COVID-19 Impact:
Industry Growth Affected by Lockdown Restrictions Amid Coronavirus Pandemic
The pandemic period registered an increase in lockdown restrictions, negatively affecting industry expansion. The crisis resulted in the closure of several production facilities and cosmetic stores. However, the rising focus of market players on the creation of e-commerce websites helped in the revival of industry demand.
Segments:
Spray Segment Held a Leading Position Impelled by Surging Demand from Consumers
Based on product type, the market is fragmented into stick, roll-on, spray, and others. Of these, the spray segment dominated the market and is anticipated to register substantial expansion over the forecast period. The rise is on account of the surging demand from consumers for an array of products.
Plastic Segment to Depict Substantial Growth Propelled by Lower Cost
On the basis of packaging material, the market for deodorants is trifurcated into plastic, metal, and others. The plastic segment is slated to record considerable growth throughout the projected period. The surge is driven by the durability and lower cost of plastic containers.
Men Segment to Register Appreciable Surge Owing to Rising Sports Participation
By end-user, the market is bifurcated into men and women. The men segment is anticipated to register appreciable expansion over the study period. The growth is impelled by the increasing participation of men in sports activities such as cricket, football, basketball, and others.
Based on geography, the market for deodorants has been studied across Europe, North America, Asia Pacific, South America, and the Middle East & Africa.
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Regional Insights:
Europe to Lead Propelled by Presence of Cosmetic Giants
Europe is set to dominate the deodorant market share, exhibiting an appreciable CAGR over the forecast period. The rise is propelled by the presence of a large number of cosmetic giants in the region. Some of these include Unilever, Avon, Beiersdorf, L’Oreal, and others.
The North America market is anticipated to register significant CAGR throughout the study period. The growth is driven by the increasing awareness associated with the maintenance of personal hygiene and health.
Detailed Table of Content:
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Market Trends
- Key Insights
- Overview of the Parent/Related Markets
- Regulatory Analysis
- Industry SWOT Analysis
- Recent Industry Developments - Policies, Partnerships, New Product Launches, and Mergers & Acquisitions
- Impact of COVID on Supply Chain of Deodorant Market
- Impact of COVID-19
- Supply Chain Challenges
- Potential Opportunities due to COVID-19
- Global Deodorant Market Analysis, Insights and Forecast, 2019-2030
- Key Findings / Summary
- Market Size Estimates and Forecast By Product Type (Value)
- Spray
- Roll-On
- Stick
- Others
- By Packaging Material (Value)
- Metal
- Plastic
- Others
- By End-User (Value)
- Men
- Women
- By Region (Value)
- North America
- Europe
- Asia Pacific
- South America
- Middle East & Africa
- Market Size Estimates and Forecast By Product Type (Value)
- Key Findings / Summary
TOC Continued...!
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Competitive Landscape:
Major Companies Ink Partnership Deals to Strengthen Industry Foothold
Leading industry participants are centered on adopting an array of strategic steps for strengthening the positions of their businesses. These comprise acquisitions, merger agreements, and the rollout of new solutions. Some of the other initiatives include an escalation in R&D activities.
Key Industry Development:
- June 2022 – Good Avenue collaborated with Nuud and its innovative odor control solutions. The rollout helped in enhancing the depth of personal care products.
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