Definition of Market/Industry:
Deodorant and antiperspirant are personal care products used to eliminate or control sweating and body odor. These products consist of various ingredients such as carriers, fragrance, and anti-microbial agents. Moreover, these ingredients also enhance shelf life, moisture, and much more property of the deodorant and antiperspirant.
The global deodorant and antiperspirant market is estimated to be valued at US$ 29,121 million in 2021 and is expected to exhibit a CAGR of 5.4 % over the forecast period (2021-2028).
Figure 1. Global Deodorant and Antiperspirant Market Value (US$ Mn), by Region, 2020
The growing young population is driving the market growth of deodorant and antiperspirant. They are the fastest-growing products in terms of demand among youngsters. According to the Coherent Market Insights analysis, they have accounted for the highest sale in the fragrances category, due to its benefits such as anti-bacterial protection and long-lasting freshness. The market of personal grooming products such as perfumes are gaining tremendous growth on the account of the increasing young population and the growing popularity of these products around the globe.
Factors such as advanced technology, eye-catching designs, and attractive packaging is propelling the market growth of the deodorant and antiperspirant. Growing demand for smaller size and better spray performance deodorant products as they are handy and easy to use is again accelerating the market growth. Moreover, the continuous launch of aluminum-based deodorants with attractive designs for increasing consumer’s base is further propelling the market growth of the deodorant and antiperspirant.
Companies are targeting all age groups people by launching deodorant and antiperspirant for both young age and middle age people. This is projected to offer potential market opportunities. According to the Coherent Market Insights analysis, 15 to 25-year olds account for approximately 21.7% of the total population only, a large opportunity lies in other age groups of consumers for deodorant and antiperspirant products. Thus, the manufacturer can take look at this an opportunity that can have a positive impact on the market growth of the deodorant and antiperspirant.
Continuous product innovation by key manufacturer is a key trend in the market and this trend is projected to augment the market growth of the deodorant and antiperspirant. For instance, in February 2019, Unilever – the global provider of deodorant and antiperspirant innovation – has expanded its portfolio to include formats designed for on-the-go lifestyles. Unilever's new Deodorant Wipes offer people a smart way to stay feeling fresh as they go from one activity to the next.
|Base Year:||2020||Market Size in 2021:||US$ 29,121 Mn|
|Historical Data for:||2017 to 2020||Forecast Period:||2021 to 2028|
|Forecast Period 2021 to 2028 CAGR:||5.4%||2027 Value Projection:||US$ 42,081 Mn|
Unilever Company, Procter & Gamble Company, Godrej Consumer Products Ltd., Beiersdorf AG, Avon Products Inc, Henkel AG & Company, KGaA, and CavinKare Pvt. Ltd.
|Restraints & Challenges:||
Premium personal care products across Mexico country is escalating the market growth of deodorant and antiperspirant. For instance, Brazil is one of the largest consumer of deodorants in the world where men’s deodorant segment accounts for the largest share in Brazil deodorant and antiperspirant market. Brazilian men often use deodorant as a substitute for perfumes and aftershave products due to the affordable prices of deodorants as compared to perfumes.
Growing strategic partnership and agreement among key manufacturers is an emerging trend in the market. For instance, in April 2020, Old Spice and Secret are the first major brands to introduce all-paper, plastic-free deodorant packaging available in select Walmart Stores. The first all-paper tube package for select Old Spice and Secret aluminum-free deodorants, co-designed with consumers interested in cutting back on plastic waste.
Figure 2. Global Deodorant and Antiperspirant Market Share, By Antiperspirant Product Type, 2020
Key Takeaways of the Graph:
Growing environmental concerns is another major factor hindering the market growth of deodorant and antiperspirant. The recyclability issues associated with the plastic packaging materials as plastic do not degrade easily which leads to deposition of the plastic on landfills and this has adverse effect on terrestrial as well as aquatic species.
Slowdown of economy due to COVID-19 pandemic as it has negatively affected the demand of deodorant and antiperspirant due to self-quarantine culture and restrictions on movement. This factor is expected to hamper the market growth of the deodorant and antiperspirant over the forecast period.
In July 2020, Procter & Gamble announced the launch of Paper Tube Packaging for Select Deodorants
Deodorant and antiperspirant are commonly confused with each other. However, they are actually two separate products. The purpose of a deodorant is to cover up bad smells from the body's sweat or perspiration and prevent body odor from being detected by others. The second class of deodorant, also known as antiperspirants, prevents sweating by blocking sweat pores themselves, usually by physically blocking sweat glands.
Growing awareness regarding personal hygiene and increasing disposable income of the consumer is driving growth of the deodorant and antiperspirant market. Moreover, rapid urbanization and the increasing launch of the innovative product by key players to cater to growing demand is again fostering growth of the market. For instance, in February 2019, Unilever Launches Deodorant Wipes. Its new deodorant wipes offer people a smart way to stay feeling fresh as they go from one activity to the next.
However, environmental concerns and slowdown of the economy due to pandemic is expected to restrict growth of the market.
Key features of the study:
“*” marked represents similar segmentation in other categories in the respective section.