The deodorant and antiperspirant market offers skin care products that helps control or prevent body odor. These products contain alcohol, fragrance, and other ingredients to reduce or eliminate odor from sweating by controlling bacteria growth and wetness. Rising consumer awareness about health and hygiene along with availability of organic and natural alternatives has boosted product demand. The global deodorant and antiperspirant market is estimated to be valued at US$ 34.55 Bn in 2024 and is expected to exhibit a CAGR of 6.4% over the forecast period from 2024 to 2031.
Key Takeaways
Key players operating in the deodorant and antiperspirant market are Unilever, Procter and Gamble y, Godrej Consumer Products Ltd., Beiersdorf AG, Avon Products Inc., Henkel AG and Co. KGaA, and CavinKare Pvt. Ltd. These companies hold a majority market share and are focused on expanding their product portfolio through organic and inorganic growth strategies. The rising health awareness among consumers along with wide availability of organic and natural product variants offers significant opportunities for players in the coming years. North America and Europe accounted for over 60% of the global market share in 2023 due to high demand for personal grooming products. However, Asia Pacific is expected register fastest growth over the forecast period supported by improving living standards and lifestyle changes in major countries.
Market Drivers
The increasing health and hygiene awareness among consumers regarding the ill effects of sweating and body odor is a key factor driving the Deodorant and Antiperspirant Market Size. Growing demand for organic and natural product variants without harsh chemicals is another major growth driver. Rapid urbanization along with hot and tropical climatic conditions in developing nations is increasing the demand for effective body odor control products. Changing lifestyle patterns and rising disposable incomes are also supporting the sales of premium product ranges. Introduction of innovative packaging and fragrances by established players to target young demographics will further aid market expansion over the coming years.
PEST Analysis
Political: Deodorant and antiperspirant regulations differ by country and region. Most mandate preservatives and active ingredients to ensure consumer safety. Regulations on advertising claims and environmental impact vary.
Economic: Consumer spending on personal care products is linked to economic conditions. Rising disposable incomes increase spending on premium and natural deodorants. Currency exchange rates impact trade and sourcing costs.
Social: Societal norms and preferences influence segment growth. Demand rises for natural products perceived as healthier with environmental sustainability. Customers also seek culturally sensitive formulations.
Technological: Advances yield more effective yet mild actives. Smart applicators enhance targeted application. Connected devices may monitor physiology to customize products. Sensors help optimize formulations for performance and safety.
The market in terms of value is concentrated in North America and Europe. North America leads due to growth across premium and clinical segments in the US and copyright.
The fastest growing region for the deodorant and antiperspirant market is Asia Pacific excluding Japan. Rising incomes in populous nations like India and Indonesia increase spending on personal care. Cultural sensitivities also drive demand for halal and ayurvedic products catering to local needs. Expanding retail and e-commerce strengthen product access in the region.
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Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemical and materials, defense and aerospace, consumer goods, etc. (https://www.linkedin.com/in/money-singh-590844163)