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BRICS Oral Care Market to Grow at a CAGR of 4.5% by 2020

02-09-2017 08:56 AM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Future Market Insights

BRICS Oral Care Market to Grow at a CAGR of 4.5% by 2020

Future Market Insights (FMI) in its latest offering, “BRICS Oral Care - Market Analysis and Opportunity Assessment, 2014–2020”, provides in-depth analysis and strategic recommendations on the BRICS (Brazil, Russia, India, China and South Africa) oral care market. Personal care includes categories such as skin care, hair care, cosmetics, oral care and toiletries. The global oral care market represents 15% of the personal care market in 2014, and is expected to account for almost 20% of the overall market by 2020. Organised retailing, rising per capita income, increasing consumer spending on personal care products and consumer preferences for value-added products are some of the factors contributing to growth of the BRICS personal care market. The BRICS region represents a major segment of the global market.FMI forecasts that the overall oral care market in BRICS will grow at a moderate single-digit CAGR between 2014 and 2020.

Product-wise, the BRICS oral care market is broadly segmented into primary oral care and secondary oral care products. The primary oral care products segment comprises toothpaste and toothbrush. The secondary oral care products segment includes dental floss, mouthwash, denture care and others. The others segment includes whitening strips, dental chewing gums and mouth fresheners.

“Increasing consumer awareness with regard to better oral hygiene is the primary driver of the overall BRICS oral care market. Furthermore, dentist recommendations for adoption of various-related products is projected to lead to a shift in consumer preference from basic oral care products to secondary oral care products in the coming years,” said Vipassa.K

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Growing awareness about better oral hygiene opens up ample opportunities for international players operating in the BRICS oral care market to introduce enhanced and innovative products, further increasing competition among the players in this region. This has led key players to adopt various approaches to increase product visibility in modern retail formats, coupled with branding and advertisement to sustain in the competitive oral care market in BRICS. As a result, demand for secondary oral care products in BRICS is expected to increase considerably between 2018 and 2020.

Product-wise, toothpaste, in the primary oral care product segment currently dominates the BRICS oral care market and is expected to grow substantially between 2014 and 2020. This growth can be attributed to the fact that the BRICS region consists of emerging nations and awareness of basic oral hygiene is currently growing rapidly, supported by product launches in the region. Hence, consumers are demonstrating greater demand for primary oral care products such as toothpaste and toothbrush, as compared to that for secondary oral care hygiene products in these nations.

Furthermore, dentist recommendations will add to the rising consumer awareness about secondary oral hygiene products towards the end of the forecast period. This will result in growing preference for mouthwash, thereby driving the demand for this product category among the expanding middle-class population in the BRICS. Thus, secondary products in the BRICS oral care market such as mouthwash and dental floss will demonstrate an above-average annual growth percentage.

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Some other factors such as adoption of digital marketing and introduction of product variants at affordable prices are also expected to contribute to growth of the BRICS oral care market. Research results reveal that in 2013, the top key distribution channels, which are general merchandise retailers and direct selling, accounted for around 50% share of the BRICS oral care market.

Players in the BRICS oral care market are widening their distribution channels and strengthening partnerships across the value chain to enhance profitability and increase adoption of oral care products in the region.

ABOUT US:
Future Market Insights (FMI) is a leading market intelligence and consulting firm. We deliver syndicated research reports, custom research reports and consulting services, which are personalized in nature. FMI delivers a complete packaged solution, which combines current market intelligence, statistical anecdotes, technology inputs, valuable growth insights, an aerial view of the competitive framework, and future market trends.

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Website: www.futuremarketinsights.com

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