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.
Technavio’s sample reports are free of charge and contain multiple sections of the report, such as the market size and forecast, drivers, challenges, trends, and more.
Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market definition
- Market size and forecast
Five Forces Analysis
- Regional comparison
- Key leading countries
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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