Global Deodorant Market Highlights Over 2022 – 2031
The global deodorant market is estimated to generate a revenue of approximately USD 90 Billion by 2031 by growing at a CAGR of nearly 7% over the forecast period, i.e., 2022 – 2031. The growth of the market can be attributed to rising temperature, leading to sweat and body odour that require fragrant solutions, as well as the growing demand and trends among the younger population for scented products. Between 2016 and 2020, global production of scented body products increased to nearly 60%.
Get more information on this report: Request Sample PDF
Unhealthy lifestyle, including consumption of potent food or excessive amount of protein may also contribute to body odour. Bacteria on skin breaks down protein molecules within sweat on body which produces unpleasant body odour. As of 2019, the world consumed more protein than estimated requirements, with global average protein consumption at approximately 68 grams per person per day. Deodorants are scented products that help transform body odour into fragrant smell. Fragrant body smell also provides therapeutic benefits. These factors drive the demand for deodorants and scented products.
In addition to that, the willingness of consumers to pay more for premium quality and natural or organic products is likely to further the market growth. Moreover, the introduction of cruelty-free fragrances has set a separate standard for deodorants that has been growing in demand. This is also likely to propel the growth of the market.
However, products with unfiltered chemical toxicity that create allergic reactions to sensitive skin and availability of counterfeit products are likely to hamper the growth of the market. Moreover, high cost of products is expected to refrain price-conscious consumers from buying more products which could also restrain the growth of the market.
The market is segmented by product type into spray, roll-on, stick, and others. Among these, the spray segment is anticipated to continue being the highest revenue generating segment in the global deodorant market owing to high popularity and usage of spray based deodorants. The roll-on segment is expected to witness significant growth on account of increasing popularity among youth consumers.
Based on distribution channel, the global deodorant market is segmented into supermarkets/hypermarkets, convenience stores, pharmacies and drug stored, online retail, and others, among which the supermarkets/hypermarkets segment is expected to hold significant share owing to the various advantages they offer, such as large product variety and sample testing.
The market is further segmented on the basis of packaging material into metal, plastic, glass, and other, out of which, plastic segment is projected to hold the largest market share, owing to their durability that can withstand shock or drop and ease to carry. Furthermore, increasing use of bioplastics for product packaging and refillable deodorants that is estimated to reduce plastic use for packaging by 50% is likely to positively contribute to the growth of the segment.
Major Macro-Economic Indicators Impacting the Market Growth
Global consumption and production is a driving force of the global economy. According to The World Bank, the world household consumption expenditure was USD 46.89 Trillion in 2020. World consumption patterns suggest higher progress of markets in low-income communities. They have lower consumption rate yet they spend more than the middle and higher consumption segments combined. Low-income people in developing countries collectively spend more than USD 5 Trillion a year, out of which they spend USD 2.3 Trillion on food and beverages alone. In most other sectors, such as clothing and footwear, housing, education, health, and water, people in the lower consumption segments collectively spend roughly as much as those in the higher segments.
Consumer spending, however, collapsed as the COVID-19 pandemic swept across countries in 2020. The world consumption expenditure fell to USD 61.88 Trillion in 2020, from USD 63.79 Trillion in 2019, as per The World Bank data. This led to change in consumer behaviour pertaining to their buying and spending pattern, which further resulted in uneven economic impact. Nonetheless, evidences of a robust recovery in consumer spending are being witnessed. The polarization of consumption between mid- and higher and lower income segments may increase, where the former segment is expected to bounce back to pre-COVID-19 levels by 2022. A slower but more balanced recovery is expected for low income segment.
Global Deodorant Market Regional Synopsis
Regionally, the global deodorant market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. North America region is expected to hold the largest market share by growing at a modest rate during the forecast period, with the United States generating the largest revenue in the region. The manufacturers in this region deliver technologically advanced formulations and innovative packing concepts that attract consumers, who feel more empowered using them. In 2021, the United States generated an estimated revenue of over USD 5 billion in deodorants.
The market in Asia-Pacific region is projected to emerge as the fastest growing market on back of increasing population with increasing disposable income, especially in developing countries such as India and China, allowing the population to spend more on self-grooming. Moreover, improving standard of living and growing awareness for personal hygiene and cleanliness among the population are further expected to propel the market growth. This region is expected to provide exceptional business opportunities for new and existing players.
Get more information on this report: Request Sample PDF
The global deodorant market is further classified on the basis of region as follows:
-
North America (U.S. & Canada) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
-
Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
-
Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC (Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe), Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
-
Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
-
Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
Market Segmentation
Our in-depth analysis of the global deodorant market includes the following segments:
By Product Type
- Spray
- Roll-on
- Stick
- Others
By Distribution Channel
- Supermarkets/Hypermarkets
- Convenience Stores
- Pharmacies and Drug Stores
- Online Retail
- Others
By Packaging Material
- Metal
- Plastic
- Glass
- Others
Growth Drivers
- Rising temperature and unhealthy lifestyle, leading to body odor
- Growing demand and trends for scented products
Challenges
- Products created with unfiltered chemical toxicity, leading to allergic reactions
- Availability of counterfeit products
- High cost of fragrant products, refraining price-conscious consumers from buying more
Top Featured Companies Dominating the Market
- Avon
- Company Overview
- Business Strategy
- Key Product Offerings
- Financial Performance
- Key Performance Indicators
- Risk Analysis
- Recent Development
- Regional Presence
- SWOT Analysis
- Beiersdorf AG
- Armani beauty (Giorgio Armani S.p.A)
- Calvin Klein
- Unilever
- L'Occitane International SA
- Christian Dior (LVMH Moët Hennessy - Louis Vuitton)
- Procter & Gamble
- Colgate-Palmolive Company