Deodorants Market Anticipates A USD 13.19 Billion Growth From 2022 To 2027, Driven By Rising Living Standards, Offering Opportunities For B2B Enterprises- Technavio


(MENAFN- PR Newswire) NEW YORK, Feb. 19, 2024 /PRNewswire/ -- The global deodorants market size is estimated to grow by USD 13.19 billion from 2022 to 2027. The market is estimated to grow at a CAGR of 6.78% during the forecast period. The market is driven by improving living standards.
Improvements in the living standards of people globally have increased the spending on grooming products.
The demand for perfumes and deodorants is increasing, especially among the Millennial population.
Online retail is very popular among the Millennial population as they are tech-savvy and are more likely to spend on grooming products such as expensive fragrances and perfumes.
The report includes historic market data from 2017 to 2021. In 2017, the market was valued at
USD 25.92 billion.
North America will account for 33% of the market growth during the forecast period. For more insights on the market,
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Technavio has announced its latest market research report titled Global Deodorants Market 2023-2027
Technavio has announced its latest market research report titled Global Deodorants Market 2023-2027

Report Coverage

Details

Page number

160

Base year

2022

Historic period

2017-2021

Forecast period

2023-2027

Growth momentum & CAGR

Accelerate at a CAGR of 6.78%

Market growth 2023-2027

USD 13.19 billion

Market structure

USD Fragmented

YoY growth
2022-2023(%)

5.53

Regional analysis

North America, Europe, APAC, South America, and Middle East and Africa

Performing market contribution

North America at 33%

Key countries

US, India, China, Germany, and Brazil

Technavio has segmented the market based on end-user (men and women), product (deodorant sprays, roll-on deodorants, sticks and solid deodorants, and others), and geography (North America, Europe, APAC, South America, and Middle East and Africa).

  • The growth will be significant in the men deodorant segment during the forecast period. The growth of the segment is driven by the increasing demand for grooming products such as deodorants among male working professionals and the growing urge to smell better among the Millennial population.

By geography, the global industry is segmented into North America, Europe, APAC, South America, and Middle East and Africa. The report provides actionable insights and estimates the contribution of all regions to the growth.

  • North America will account for 33% of the growth during the forecast period. The growth of the region is driven by increasing spending on grooming products by the Millennial, Generation X, and Baby Boomer population, expanding working population, and increasing adoption of online shopping platforms.
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Innovative promotional activities are identified as the key trend.
The availability of counterfeit products is a key challenge.
Driver, trend, and challenges are the factor of dynamics that state about consequences & sustainability of the businesses, find some insights from a sample report.

Deodorants play a pivotal role in combating body odor resulting from bacterial breakdown and perspiration, particularly in areas like feet and armpits. Available in various forms including aerosol sprays, gels, roll-ons, wipes, sticks, and cans housed in plastic containers, deodorants offer consumers a wide array of choices for addressing their hygiene needs. The industry thrives on innovation, with brands constantly introducing new formulations and packaging to cater to diverse preferences. As individuals prioritize hygiene and freshness, deodorants continue to be indispensable in daily routines, offering effective solutions to keep body odor at bay and enhance overall confidence and comfort throughout the day.

IDemand surges for personal grooming products as the female workforce participation increases. Consumers seek solutions for skin-related issues like itching, rashes, and redness. Manufacturers innovate, introducing natural and aluminum-free deodorants with organic ingredients like activated charcoal, baking soda, and coconut oil. These products, often presented in hollow tubes, cater to individuals looking for alternatives to traditional options. Fragrances, often carried by alcohol-based carriers, aim to combat sweat production while providing lasting freshness. As awareness of ingredient safety grows, consumers prioritize products that address their concerns. With a focus on efficacy and skin health, the deodorants adapts to meet the evolving needs of discerning consumers seeking reliable and skin-friendly solutions.

Related Reports:

  • The perfume market size in India is expected to increase by USD 1.02 billion from 2021 to 2026, and the growth momentum will decelerate at a CAGR of 14.89%.
  • The luxury perfume market size is expected to increase by USD 4.20 billion from 2020 to 2025, and the growth momentum will accelerate at a CAGR of 6.09%.

About US
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging trends and provide actionable insights to help businesses identify opportunities and develop effective strategies to optimize their 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 insights to identify opportunities in existing and potential markets and assess their competitive positions within changing scenarios.

Contact
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: [email protected]
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SOURCE Technavio

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