The global <font style="vertical-align: inherit;"><font style="vertical-align: inherit;"> deodorant market share </font></font> is valued at USD 24.36 Bn in 2022 and is expected to expand from USD 25.16 Bn in 2023 to USD 37.44 Bn by 2030 , exhibiting a CAGR of 5.57% during the estimated period . This surge is driven by increasing demand for products from people engaged in healthy activities such as cycling, yoga, jogging, etc.
Fortune Business Insights™ cited this information in a research report titled, "Deodorant Market, 2023-2030."
List of key players profiled in the Deodorant market report:
- Unilever PLC (UK)
- Procter & Gamble (USA)
- Beiersdorf AG (Germany)
- Henkel AG & Co KGaA (Germany)
- L'Oreal SA (France)
- Sky Organics (USA)
- Speake Natural Cosmetics (Germany)
- Truly's Natural Products (USA)
- Erbaviva (USA)
- Spirit Nest (USA)
- EO Products (USA)
- Elsa Skincare (USA)
Get the sample survey PDF:
https://www.fortunebusinessinsights.com/enquiry/request-sample-pdf/deodorant-market-102687
Report Coverage:
The report offers a comprehensive analysis of the key trends driving the expansion of the industry across various regions. In addition, it also delves into key aspects that will drive the growth of the global market share over the forecast period. These insights are provided based on extensive research from reliable sources.
Drivers and Restraints:
Increased awareness of personal grooming drives market value
The growth of the deodorant market is driven by rising awareness about personal grooming. Another factor driving the expansion of the industry is the increase in promotional campaigns for perfumes and cosmetics through social media, print media, radio, and television.
However, the possibility of skin allergies could hinder the industry's expansion.
segment:
Sprays segment maintains leading position due to growing consumer demand
Based on product type, the market is fragmented into sticks, roll-ons, sprays, etc. Out of this, the sprays segment dominates the market and is expected to expand significantly during the forecast period. This increase is due to the surge in consumer demand for various products.
Plastics sector to see strong growth due to falling costs
Based on packaging material, the deodorant market is bifurcated into plastic, metal, and others. The plastic segment is expected to register significant growth throughout the forecast period. This rapid growth is driven by the durability and low cost of plastic containers.
Male segment records significant increase due to increased sports participation
Based on end-user, the market is bifurcated into male and female. The male segment is expected to expand significantly during the study period. This growth is driven by increasing participation of men in sports activities such as cricket, football, and basketball.
Based on geography, the deodorant market has been studied across Europe, North America, Asia Pacific, South America, and Middle East & Africa.
Regional insights:
Europe takes the lead due to the presence of major cosmetics companies
Europe is expected to dominate the deodorant market share and exhibit a significant CAGR during the forecast period. This growth is driven by the presence of numerous cosmetic giants in the region. These include Unilever, Avon, Beiersdorf, L'Oreal, etc.
The North American market is anticipated to register a significant CAGR throughout the study period. This growth is driven by the growing awareness regarding maintaining personal hygiene and health.
Competitive Landscape:
Major companies sign partnership agreement to strengthen industry foothold
Leading companies are focusing on adopting a series of strategic steps to strengthen their position. This may include acquisitions, merger agreements, and rolling out new solutions. Other initiatives include strengthening research and development activities.
Major industry developments:
- June 2022 — Good Avenue has partnered with Nuud and its innovative odor control solutions, a development that adds depth to its personal care offerings.