Increasing population and customer demand for all-day freshness is expected to drive market expansion in the near future at a CAGR of 6.50% during the forecast period 2023 to 2032.
Market Research Future (MRFR) has published a cooked research report on the “Global Deodorant Market” that contains information from 2018 to 2032. The deodorant market is estimated to register a CAGR of 6.50% during the forecast period of 2023 to 2032.
MRFR recognizes the following companies as the key players in the global deodorant market - Unilever PLC (U.K.), Procter & Gamble (U.S.), Henkel AG & Co KGaA (Germany), Erbaviva (U.S.), L'Oreal S.A. (France), Sky Organics (U.S.), Truly's Natural Products (U.S.), Beiersdorf AG (Germany), Speick Natural Cosmetics (Germany), EO Products (U.S.), Spirit Nest (U.S.), and Elsa's Skincare (U.S.).
The global deodorant market is accounted to register a CAGR of 6.50% during the forecast period and is estimated to reach USD 46.88 billion by 2032.
A favorable prediction for the industry is being created by the growing demand from the general public for novel and innovative perfumes and scented items, particularly among millennials. Other growth-promoting aspects include new product developments like the creation of natural deodorants without aluminum. Additionally, in line with this, intensive marketing campaigns by the manufacturers on various social media platforms and the spread of retail e-commerce channels are both fostering market expansion.
On the basis of end-user, the market is segmented into Men and Women. The men segment was attributed to holding the largest market share in 2022 due to the higher proportion of guys who play sports like basketball, football, cricket, and others. Deodorant use among these athletes is becoming more popular as a way to combat sweating's unpleasant stench.
Based on packaging material, the global deodorant market has been segmented into Metal, Plastic and Others. The plastic segment was expected to hold the largest market share in 2022. When compared to materials like glass or paper, plastic containers are said to be more robust because they can endure shocks and drops. This characteristic promotes increased demand for the product. Furthermore, it is frequently preferred over other types of materials due to its reduced cost in comparison to other raw resources.
On the basis of product type, the deodorant market is segmented into Spray, Roll-On, Stick and Others. The spray segment was attributed to holding the largest market share in 2022 because there is a greater demand from consumers for items with characteristics like fast drying, which helps prevent stains on clothing. Additionally, unlike other products, spray deodorant is neither sticky or moist, which is why this market is expanding.
The global deodorant market, based on region, has been divided into the North America, Europe, Asia-Pacific, and Rest of the World. North America consists of US and Canada. The Europe deodorant market comprises of Germany, France, the UK, Italy, Spain, and the rest of Europe. The deodorant market in Asia-Pacific has been segmented into China, India, Japan, Australia, South Korea, and the rest of Asia-Pacific. The Rest of the World deodorant market comprises of Middle East, Africa, and Latin America.
The largest market share for deodorant was maintained by the North American regional sector. The market will expand as a result of an increase in consumer awareness regarding the maintenance of personal hygiene and health. In addition, people have more purchasing power because to the region's rising employment rate, which leads to an increase in the use of deodorants and other cosmetics.
Moreover, the Europe market has been persistently growing over the forecast period. The rise of the European market is being driven by these companies' increased efforts to promote deodorant usage and awareness. A lot of people in Europe have a propensity to live hygienically and use de products as a must, which is fueling demand for de products and assisting in the expansion of the European deodorants market.
Additionally, Asia Pacific is anticipated to experience the quickest growth over the forecast period. The number of dual-earner households has increased in the area, giving customers more spending power and influencing them to purchase deodorant and other personal care items. Further fueling the market's expansion is the simplicity of the internet distribution channel.
Furthermore, the rest of the world's deodorant market is divided into the Middle East, Africa, and Latin America. Rest of the world is anticipated to have significant development during the study period due to an increase in the use of deodorants and other cosmetics. The demand for products in the area is also being boosted by changes in lifestyle brought on by an increase in disposable money.
Key Findings of the Study
The global deodorant market is expected to reach USD 46.88 billion by 2032, at a CAGR of 6.50% during the forecast period.
The Asia-Pacific region accounted for the fastest-growing global market. Due to the rise in the number of dual-earner households in the region, consumers now have greater purchasing power and are more likely to buy deodorant and other personal care products.
Based on end-user, the men segment was attributed to holding the largest market in 2022, with an approximate market share of 45–65%.
Unilever PLC (U.K.), Procter & Gamble (U.S.), Henkel AG & Co KGaA (Germany), Erbaviva (U.S.), L'Oreal S.A. (France), Sky Organics (U.S.), Truly's Natural Products (U.S.), Beiersdorf AG (Germany), Speick Natural Cosmetics (Germany), EO Products (U.S.), Spirit Nest (U.S.), and Elsa's Skincare (U.S.).