DEODORANT AND ANTIPERSPIRANT MARKET ANALYSIS

Global deodorant and antiperspirant market was valued at US$ 30.51 Billion in 2022, exhibiting a CAGR of 6.4% in terms of revenue, over the forecast period (2023 to 2030) to reach US$ 50.28 Bn by 2030.

Deodorant and antiperspirant are personal care products that are used to eliminate or control sweating and body odor. These products consist of various ingredients such as fragrance, and anti-microbial agents. Moreover, these ingredients also enhance shelf life, moisture, and other properties of deodorants and antiperspirants.

COVID-19 Impact on Global Deodorant and Antiperspirant Market

COVID-19 outbreak affected the  global deodorant and antiperspirant market growth negatively. Deodorant is a personal care hygiene product that helps to stop bacterial growth on the skin, and keeps it fresh. During the pandemic, deodorant was not considered as a necessary product, and therefore, demand for deodorants was decreased during the pandemic. The COVID-19 pandemic forced countries to impose lockdown that led todisruption i in the distribution and supply chain. There was restriction on the export and import of deodorants as it was not an important product. The production method for new batches of deodorant had become a major challenge for the companies due to the limited availability of labour, logistic issue, and disrupted raw material supply.

 Global Deodorant and Antiperspirant Market- Drivers

• Growing Awareness Regarding Personal Hygiene

Growing awareness regarding personal hygiene and increasing disposable income of consumers are expected to drive the global deodorant and antiperspirant market growth. Moreover, rapid urbanization and increasing launch of innovative products by key players to cater to growing demand is also expected to drive the market growth.  For instance, in 2021, Henkel extended its partnership with Quad Industries to hasten printed electronics solutions. Through this partnership, both companies will deliver support and capacities for prototyping, creating technological value and printed electronics solutions across many industries

• Increasing Demand For Premium Personal Care Products 

Growing young population is driving the market growth. Deodorant and antiperspirant  are the fastest-growing products in terms of demand among youngsters. According to Coherent Market Insights’ analysis, deodorant and antiperspirant accounted for the highest sale in the fragrances category, due to benefits such as anti-bacterial protection and long-lasting freshness. The market for personal grooming products such as perfumes is experiencing tremendous growth on the account of  increasing young population and  growing popularity of these products around the globe.

Global Deodorant and Antiperspirant Market- Restraints

Growing environmental concerns is a major factor hindering

Growing environmental concerns is a major factor hindering the market growth. The recyclability issues associated with plastic packaging materials as plastic do not degrade easily leads to deposition of the plastic on landfills, and this has adverse effect on terrestrial as well as aquatic species.

Global Deodorant and Antiperspirant Market- Segmentation

Figure 1: Global Deodorant and Antiperspirant Market Share, By Antiperspirant Product Type, 2022

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On the basis of Antiperspirant Product Type in 2022, the Aerosal  segment has accounted for the largest market share of 74% in terms of value. Aerosol is defined as a suspension system of solid or liquid particles in a gas. An aerosol includes both the particles and the suspending gas that is usually air. Meteorologists usually refer them as particle matter- PM2. 5 or PM10, depending on their size.

Global Deodorant and Antiperspirant Market- Opportunities

Surging Demand for Pocket Based Deodorant

This new technology provides better the quality of scent with a long- continuing impact and helped the consumer to stay fresh indeed on sticky days. Thus, surging demand for fund grounded deodorant will produce multitudinous openings for the request growth during the cast period.

 Global Deodorant and Antiperspirant Market- Trends

Increasing Premium Personal Care Products in Mexico I

Increasing premium personal care products across Mexico is an expected to drive the market growth. For instance, Brazil is one of the largest consumers 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.

Global Deodorant and Antiperspirant Market- Regional Insights

Figure 2: Global Deodorant and Antiperspirant Market, By Region, 2022

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Europe dominated the global deodorant and antiperspirant market in terms of revenue and market share due to presence of numerous deodorant manufacturers and increasing people inclined more towards a hygienic lifestyle in this region.

Asia Pacific is expected to be the fastest developing region during the forecast period 2023-2030, owing to increasing procuring power of the people coupled with growing economic growth in this region.

Global Deodorant and Antiperspirant Market- Key Developments

• In July 2020, Procter & Gamble announced the launch of Paper Tube Packaging for Select Deodorants
• In November 2020, Hindustan Unilever launched a new brand in the natural segment named Nature Protect. After beauty, hair, and skin care, this will be the fourth brand in herbal portfolio, or HUL’s naturals that targets home care. Experts claim that HUL is filling "white spaces," focusing on regions where there is strong consumer momentum.
• In February 2021, Henkel extended its partnership with Quad Industries for accelerating printed electronics solutions. The development of their strategic partnership will deliver support and capacities for prototyping with printed electronics solutions and technological value creation across many industries

Global Deodorant and Antiperspirant Market- Key Players

Major players operating in the global deodorant and antiperspirant market include Unilever, Procter & Gamble, Godrej Consumer Products Ltd., Beiersdorf AG, Avon Products Inc., Henkel AG & Co. KGaA, and CavinKare Pvt. Ltd.

*Definition: Deodorant masks odor, while an antiperspirant reduces person sweat. Both products work wherever they are applied to body, most commonly on the underarms. Many times, deodorant and antiperspirant are combined in a single product.