According to a recent report by Fact.MR, the global deodorants market is projected to register an impressive 7.1% CAGR over the forecast period 2017 to 2027. Over the recent years, the demand for deodorants has witnessed an exponential growth on the back of robust adoption by women in their daily grooming routine. The global market for deodorants is expected to surpass US$ 30 Bn in revenues by 2022.
A slew of premium quality ingredients, packaging styles, and attractive designs have been utilized by deodorant manufacturers for increasing their market presence as well as their product portfolio. These manufacturers are focusing on gradual inclination towards niche market with growth potential, with launches of various affordable deodorants. There variety of deodorants was limited for women in the past, however new entrants as well as various brands already thriving in the market are leveraging media campaigns for benefitting from the category’s substantial growth potential. The aforementioned factors are estimated to augment the market growth throughout the forecast period.
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Versatile and high performance deodorants are being sought by the consumers across the globe, based on their altering requirements ranging from usual fragrances to achieving particular beauty benefits. The demand for deodorants based on natural ingredients have been witnessing a rise in demand over the past few years, owing to their benefits pertaining to health. Deodorants have emerged from being non-essential to an integral part of people’s life in the current world. Products such as youth-oriented deodorants and celebrity scents have been observed to gain higher traction among users. Across developing economies such as India and China, rising living standards of people have fuelled the adoption of various cosmetic products including scents, body lotions, talcum powders, and deodorants. In addition, rising focus of manufacturers in examination of business strategies and new products has been transmuting the global deodorants market.
In terms of revenues, Europe will remain the most lucrative market for deodorants. The market for deodorants in Europe is anticipated to hold the largest market share during the forecast period.Asia Pacific Excluding Japan (APEJ) is estimated to be the second largest market for deodorants by 2022-end. Deodorants sales in Middle East & Africa (MEA) are expected to exhibit the highest CAGR in the market through 2022.Hypermarkets will remain dominant among distribution channels in the global market for deodorants.
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In terms of revenues, deodorants sales in hypermarkets are expected to account for largest market share throughout the forecast period.Sales of deodorants in online distribution channels are estimated to register the highest CAGR through 2022.Spray deodorants will continue to be sought-after among products in the market. Sales of spray deodorants are anticipated to exhibit the fastest expansion during the forecast period, followed by roll-on deodorants.Sales of stick deodorants will exhibit a comparatively lower CAGR through 2022 in the market.
In terms of market share, stick deodorants will lose 61 BPS between 2017 and 2022. The report has profiled key manufacturers of deodorants in the global market, which include companies such as Adidas AG, Avon Products, Inc., Beiersdorf Aktiengesellschaft, CavinKare Pvt. Ltd., Church & Dwight Co., Inc., Colgate-Palmolive Company, Henkel AG & Co. KGaA, Lion Corporation, The Procter & Gamble Company, and Unilever PLC.
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