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Deodorant and Antiperspirant Ingredients Market is anticipated to attain a value of nearly US$ 39.7 Bn in 2031

09-21-2022 11:45 AM CET | Fashion, Lifestyle, Trends

Press release from: Persistence Market Research

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Deodorant and Antiperspirant Ingredients Market 2022

Deodorant and Antiperspirant Ingredients Market 2022

Deodorant and Antiperspirant Ingredients Market 2022

The global deodorant and antiperspirant ingredients market accounts for a worth of US$ 23 Bn at present. The industry is anticipated to expand at a CAGR of 5.5% over the decade and attain a value of nearly US$ 39.7 Bn in 2031.

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High cost of natural ingredient-based deodorants, urbanization in emerging nations, variety of fragrances, and companies offering value for money in terms of quantity are major factors sculpting demand for deodorant and antiperspirant ingredients. Rising demand for natural products and increase in popularity of products with skin nourishment are trends that are influencing the deodorant and antiperspirant ingredients space. The market in Germany is anticipated to rise at a CAGR of close to 6%, making it a lucrative market in the European region.

Demand for deodorant and antiperspirant ingredients is largely driven by growing demand of deodorant and antiperspirant products by younger consumers. New and innovative ingredients, lower cost of deodorant products compared to other substitutes, enhanced performance of deodorant and antiperspirant products due to a usage of high-quality ingredients, new technologies, and attractive packaging are some major factors causing a shift in preference among younger consumers to purchase deodorants and antiperspirants.

Aerosol deodorants and antiperspirants contribute highest in terms of demand and share the global deodorant and antiperspirants ingredients market as compared to other product types. In terms of ingredients, alcohol accounted for the largest market share in the global deodorant and antiperspirant ingredients market as compared to other ingredients, which is anticipated to expand at a significant CAGR over the forecast period.

However, growing concerns among consumers regarding possible health issues some ingredients used in deodorant and antiperspirant products could cause, and growing environmental concerns could pose a challenge for the growth of the global deodorant and antiperspirant ingredients market. The global deodorant and antiperspirant ingredients market is segmented into deodorant type, antiperspirant type, deodorant and antiperspirant ingredients, and by geography. By deodorant product type, the market is segmented into aerosol deodorants, roll on deodorants, creams & wipes deodorants, sticks & solids deodorants, and others. Among these segments, the aerosol deodorant segment is expected to account for nearly 7/10 revenue share of the overall market by 2021.

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Furthermore, it is expected to dominate the global deodorant market throughout the forecast period, exhibiting a positive CAGR. By antiperspirant product type, the market is segmented into aerosol antiperspirant, roll on antiperspirant, sticks & solids antiperspirant, and others. On the basis of ingredients, the global deodorant and antiperspirant ingredients market is segmented into alcohol, aluminum, antimicrobials, base/ carrier substances, conditioner & moisturizer, fragrances, parabens & propellants, and others.

Among the aforementioned segments, alcohol ingredient segment is expected to dominate the global market with over 3/10 market share in terms of volume throughout the forecast period. Increasing demand for deodorant and antiperspirant products with long-lasting fragrance and effective antibacterial properties is a factor expected to further propel demand for ingredients.

On the basis of region, Europe is anticipated to dominate the global deodorant and antiperspirant market in 2031, followed by North America and Asia-Pacific. Europe is expected to remain the dominant market with over 3/10 market revenue share throughout the forecast period.

Key industrial participants considered in the global deodorant and antiperspirant ingredients market include 

Unilever Company.
Procter & Gamble.
L'Oreal Company.
Avon Product Inc.
CavinKare Pvt. Ltd.
Henkel AG & Company KGaA.
Beiersdorf AG.
Godrej Consumer Products Ltd.

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Key Questions Answered in This Report.

What will the Market growth rate in Future?
What are the key factors driving the global Market?
Who are the key manufacturers in Market space?
What are the opportunities and threats faced by the vendors in the global industry?
What are sales, revenue, and price analysis by regions of industry?

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