SELBYVILLE, Del., July 27, 2020 /PRNewswire/ -- As per Global Market Insights Inc., the global additives market for deodorants and antiperspirants application valuation is expected to surpass $580 million by 2025, registering a CAGR of 5% from 2020 to 2026. The report provides a comprehensive analysis of the top winning strategies, market size as well as estimations, opportunities & drivers, key investment avenue, wavering industry trends, and competitive scenario.
As per market analysis, increase in consumer incomes and the subsequent improvement it has brough to people's lifestyles is boosting the adoption of deodorants & antiperspirants. Likewise, growing focusing on personal hygiene as well as rising need among the younger population to effectively feel fresh is further expected to foster the demand for deodorants over the forthcoming timeframe.
Based on product, farnesol based additives are anticipated to grow over 5% by the end of the analysis time period. Farnesol provices natural deodorant properties with natural preservation, that further allows for formulation of milder, skin-sensitive deodorants. Rising interest toward personal care and grooming is boosting the demand for perfumes, deodorants, and colognes, thereby stimulating product adoption rate. Increasing preference for farnesol-based products among youth and women is expected to outline the additives market segment growth over the coming years.
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Key reasons for global additives market growth from deodorants and antiperspirants application:
- Increasing awareness regarding personal hygiene.
- Rising demand for sweat reduction products.
- Growing preference for skin-friendly grooming products.
2025 forecasts anticipate the 'antiperspirant' product segment showing appreciative growth:
Aluminum sesquichlorohydrate additives industry for deodorants as well as antiperspirants application is slated to grow more than 4% by the end of the analysis timeline. Aluminum Sesquichlorohydrate, which is categorized as aluminum salt, is used as a deodorant, antiperspirant, and cosmetic astringent agent. This product is extensively utilized in alcoholic/aqueous formulations, which includes roll-ons and pump-sprays, and can be used in emulsions, pre-shaves, and skin tonics as well.
Moreover, increasing acceptability regarding spending high amounts on luxury products and developing international cosmetics and personal care brands will further boost industry size. Additionally, the availability of numerous retail channels along with growing sophistication of product is likely to boost the product demand.
Europe & North America to witness remunerative growth
From a regional perspective, in 2019, Europe additives market from deodorants as well as antiperspirants application was valued at approximately $210 million and is anticipated to grow more than 5% over the forecast timeframe. In 2019, the region held a prominent share in the global deodorants & antiperspirant additives industry.
Majority of the European population considers deodorant to be a daily essential to maintain personal hygiene. In fact, European countries such as France, UK, and Germany are considered the largest consumers of antiperspirants and deodorants. Increasing spending on product advertisement & branding coupled with improving product quality will boost the Europe deodorant market, augmenting additives demand.
The North America additives market from antiperspirants as well as deodorants application is anticipated to surpass a valuation of approximately $110 million by the end of the analysis timeline. Rising awareness regarding personal hygiene and the availability of a wide-range of fragrances in various formats has fostered the growth of deodorants in North America.
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Leading market players
The key market players analyzed in the additives industry for deodorants and antiperspirants application report include Akzonobel, BASF SE, Firmenich, IFF, Symrise AG, International Flavors & Fragrances Inc. (IFF Inc.), Nouryon, The Dow Chemical Company, and Givaudan among others. They have incorporated several strategies including partnership, expansion, collaboration, joint ventures, and others to heighten their stand in the industry.
About Global Market Insights, Inc.
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider. Offering syndicated and custom research reports, growth consulting and business intelligence services, Global Market Insights, Inc. aims to help clients with penetrative insights and actionable market data that aid in strategic decision making.
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SOURCE Global Market Insights, Inc.