Deodorant And Antiperspirant Ingredients Market Size, Share, Analysis, Industry Report and Forecast 2022-2029
The global deodorant and antiperspirant ingredients market size is projected to grow steadily in the forthcoming years due to the rising awareness of personal hygiene. This information is published by Fortune Business Insights in its report, titled “Deodorant And Antiperspirant Ingredients Market, 2022-2029“. The demand for organic and natural ingredient-based products has risen dramatically as personal cleanliness has gained importance. The use of chemicals in personal care and cosmetic goods has resulted in an increase in adverse effects and skin allergies, which has boosted the appeal of natural substances. The ingredients of deodorants are commonly used to extend the shelf life of products, offer perfume, prevent bacterial decomposition, and regulate body sweat.
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Substantial Product Demand Owing to Growing Awareness of Personal Hygiene
The pandemic has raised the demand for personal hygiene products across the globe. Consumers are hyper-conscious of maintaining personal hygiene and sanitize their surroundings so as to prevent being infected by the virus. In addition to this, even though most of the industries were negatively affected by the lockdown, deodorant and antiperspirant ingredients did not face any negative backlash in terms of production and sales. Also, as a personal hygiene product, it is anticipated that the product is likely to experience proportionate growth along with the global population.
Based on type, the market for deodorant and antiperspirant ingredients is segmented into alcohol, fragrance, anti-microbial, aluminum salts, and others. Based on product, market is divided into aerosol spray, roll on, stick/gel, and others. Based on geography, the market is divided into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
What Does the Report Contain?
The insights in the report are based on primary and secondary research to come to authentic conclusions. The analysis is based on industry-wide data and market projections are estimated by our in-house experts. The data is classified on various bases and each segment meticulously studied to give strategies based on market dynamics. The indispensable guidance provided by our experts is beneficial for the new entrants to the market. The guidance includes business priorities, pricing, prominent business models, challenges, potential business expansion opportunities, and much more. This report is not only beneficial for the new entrants or business holders of the market but also for the investors in deodorant and antiperspirant ingredients.
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Drivers & Restraints
Rising Disposable Income of Consumers To Garner Sales
Deodorants and antiperspirants contain antimicrobials and scents to minimize unpleasant body odor produced by microorganism proliferation. The rise in per capita disposable income among consumers worldwide and particularly in the developing market economies is giving rise to the increasing demand for the product annually. Secret, for example, recently announced the debut of Secret DERMA+ Antiperspirant, its first-ever clinical-level sweat and odor protection with skin conditioners and a soft-touch applicator.
Furthermore, among the numerous personal care products, deodorants are among the fastest developing in terms of volume consumed. The deodorant and antiperspirant ingredients market growth is facilitated by these factors primarily.
Increasing Consumption of Cosmetics in Europe to Aid Growth
Europe is anticipated to lead the deodorant and antiperspirant ingredients market share in the foreseeable future. This is due to the significant growth of the cosmetic industry in the immediate locality. For example, in 2019, the European Cosmetic Industry Report declared a USD 92.69 billion market value of the European cosmetic market. In addition to this, several fashion shows and events across the region promote the consumption of nail art and its care.
Asia-pacific is anticipated to hold substantial market share in the forthcoming years. This is due to the increasing disposable income in the region.
Collaboration of Small and Large Scale Producers to Gain Mutual Growth
The prominent players of the deodorant and antiperspirant ingredients industry are strategically using social media as a marketing platform to introduce their products to the target group. Moreover, various events and shows are the prime spots for strategic advertisement and promotions across the premium consumers of the product. Furthermore, the prominent players are also collaborating with small businesses for production purposes at a lower cost. The small-scale producers, as well as the large-scale ones, are also concentrating on producing sustainable products to benefit the environmental cause. Small businesses are also experimenting with various distribution channels to gain substantial penetration in the market.
List of Key Players Profiled in the Market:
- Beiersdorf AG
- Henkel AG
- Evonik Industries
- Avon Product Inc.
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