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Global Deodorant and Antiperspirant Ingredients Market 2019-2023| Growing Demand for Multifunctional Deodorants to Boost Market Growth| Technavio

Technavio has announced its latest market research report titled global deodorant and antiperspirant ingredients market 2019-2023. (Graphic: Business Wire)

LONDON--(BUSINESS WIRE)--

The deodorant and antiperspirant ingredients market size is expected to post a CAGR of over 6% during the period 2019-2023, according to the latest market research report by Technavio. Request a free sample report

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With the dramatic growth of the e-commerce industry, vendors of deodorants and antiperspirants are increasingly adopting online platforms to minimize overhead costs. Minimizing overhead costs also enables retailers to offer products at lowest prices, which motivates consumers to make more purchases. In addition, several local and global vendors are focusing on promoting their brands through e-retailing websites. Thus, the growth in e-commerce sales of deodorants and antiperspirant is expected to drive the growth of the market during the forecast period.

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As per Technavio, the growing demand for multifunctional deodorants will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.

Deodorant and Antiperspirant Ingredients Market: Growing Demand for Multifunctional Deodorants

Consumers are increasingly seeking multifunctionality in a deodorant which perform a wide range of functions than merely curbing unpleasant odors. Having recognized this demand, vendors now aim to enhance the basic function of deodorants to include antiperspirants and skin-lightening features. For instance, Dove Go Fresh and Dove Original Clean are some of the multifunctional solid deodorants that Unilever manufactures. Manufacturers are also focusing on creating multifunctional formulations with features such as long-lasting odor protection, anti-wetness properties, antibacterial properties, prevention of deodorant stains, and extra freshness. Thus, the growing demand for multifunctional deodorants will drive market growth.

“Other factors such as the increasing adoption of organic and natural ingredients, and the rising demand for male grooming products will have a significant impact on the growth of the deodorant and antiperspirant ingredients market value during the forecast period,” says a senior analyst at Technavio.

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Deodorant and Antiperspirant Ingredients Market: Segmentation Analysis

This market research report segments the deodorant and antiperspirant ingredients market by ingredients (alcohol, aluminum salt, fragrance, and others) and geographical regions (APAC, North America, Europe, MEA, South America).

The European region led the deodorant and antiperspirant ingredients market in 2018, followed by North America, APAC, South America and MEA respectively. The growth of the deodorant and antiperspirant ingredients market share in Europe can be attributed to factors such as the increase in demand for organic and natural products, introduction of technologically-advanced and value-added deodorant products, and the availability of a wide range of products in drugstores, supermarkets, and hypermarkets.

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Some of the key topics covered in the report include:

Market Landscape

  • Market ecosystem
  • Market characteristics
  • Market segmentation analysis

Market Sizing

  • Market definition
  • Market size and forecast

Five Forces Analysis

Market Segmentation

Geographical Segmentation

  • Regional comparison
  • Key leading countries

Market Drivers

Market Challenges

Market Trends

Vendor Landscape

  • Vendors covered
  • Vendor classification
  • Market positioning of vendors
  • Competitive scenario

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

If you are interested in more information, please contact our media team at media@technavio.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20191128005415/en/