Deodorants Market anticipates a USD 13.19 billion growth from 2022 to 2027, driven by rising living standards, offering opportunities for B2B enterprises- Technavio

NEW YORK, Feb. 19, 2024 /PRNewswire/ -- The global deodorants market size is estimated to grow by USD 13.19 billion from 2022 to 2027. The market is estimated to grow at a CAGR of 6.78% during the forecast period. The market is driven by improving living standards. Improvements in the living standards of people globally have increased the spending on grooming products. The demand for perfumes and deodorants is increasing, especially among the Millennial population. Online retail is very popular among the Millennial population as they are tech-savvy and are more likely to spend on grooming products such as expensive fragrances and perfumes. The report includes historic market data from 2017 to 2021. In 2017, the market was valued at USD 25.92 billion. North America will account for 33% of the market growth during the forecast period. For more insights on the market, Request a sample report

Technavio has segmented the market based on end-user (men and women), product (deodorant sprays, roll-on deodorants, sticks and solid deodorants, and others), and geography (North America, Europe, APAC, South America, and Middle East and Africa). 

• The growth will be significant in the men deodorant segment during the forecast period. The growth of the segment is driven by the increasing demand for grooming products such as deodorants among male working professionals and the growing urge to smell better among the Millennial population.

By geography, the global industry is segmented into North America, Europe, APAC, South America, and Middle East and Africa. The report provides actionable insights and estimates the contribution of all regions to the growth.

• North America will account for 33% of the growth during the forecast period. The growth of the region is driven by increasing spending on grooming products by the Millennial, Generation X, and Baby Boomer population, expanding working population, and increasing adoption of online shopping platforms. Download a Sample Report

Innovative promotional activities are identified as the key trend. The availability of counterfeit products is a key challenge. Driver, trend, and challenges are the factor of dynamics that state about consequences & sustainability of the businesses, find some insights from a sample report.

Deodorants play a pivotal role in combating body odor resulting from bacterial breakdown and perspiration, particularly in areas like feet and armpits. Available in various forms including aerosol sprays, gels, roll-ons, wipes, sticks, and cans housed in plastic containers, deodorants offer consumers a wide array of choices for addressing their hygiene needs. The industry thrives on innovation, with brands constantly introducing new formulations and packaging to cater to diverse preferences. As individuals prioritize hygiene and freshness, deodorants continue to be indispensable in daily routines, offering effective solutions to keep body odor at bay and enhance overall confidence and comfort throughout the day.

IDemand surges for personal grooming products as the female workforce participation increases. Consumers seek solutions for skin-related issues like itching, rashes, and redness. Manufacturers innovate, introducing natural and aluminum-free deodorants with organic ingredients like activated charcoal, baking soda, and coconut oil. These products, often presented in hollow tubes, cater to individuals looking for alternatives to traditional options. Fragrances, often carried by alcohol-based carriers, aim to combat sweat production while providing lasting freshness. As awareness of ingredient safety grows, consumers prioritize products that address their concerns. With a focus on efficacy and skin health, the deodorants adapts to meet the evolving needs of discerning consumers seeking reliable and skin-friendly solutions.

Related Reports:

• The perfume market size in India is expected to increase by USD 1.02 billion from 2021 to 2026, and the growth momentum will decelerate at a CAGR of 14.89%. 
• The luxury perfume market size is expected to increase by USD 4.20 billion from 2020 to 2025, and the growth momentum will accelerate at a CAGR of 6.09%.

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SOURCE Technavio