Impact of the Covid-19 Outbreak on Global Herbal Toothpaste Market
Advent of global pandemic, COVID-19 has resulted in creating a global crisis across the world. Impacting over 215 countries, the pandemic has already created economic backdrop worldwide. With over 4.1 million COVID-19 cases worldwide along with 283,876 fatalities during the second week of May 2020, COVID-19 is deemed to create chaotic environment thereby resulting in advent of global rescission. With the rising number of cases, the global herbal toothpaste market is getting affected in many ways. Few impacts of the outbreak of COVID-19 on the global herbal toothpaste market have been discussed below:
Covid-19 outbreak worldwide has intensely affected the overall consumer goods industry. Retailers of consumer goods are being forced to prioritize only essential products such as food, beverages, personal hygiene products such as soaps, toothpastes, and had sanitizers, along with reduction of assortment sizes and stock keeping units (SKUs) of other product categories such as herbal toothpaste. The worldwide lockdown owing to global epidemic of Covid-19 has particularly inclined the consumer buying behavior by shaping consumer purchasing habits.
As a result of global outbreak, a shift in consumer inclination to hygiene products is anticipated to arise. According to MRFR analysis, shift in consumer preference towards the use of products which are free from additives and toxic chemicals has been a key factor propelling the demand for herbal toothpaste products during this lockdown. Due to these preferences, consumers are opting for products containing natural ingredients as an adverse effect on health due to the chemicals and additives present in the products. According to the Q1 report published by Unilever in April 2020, the sales of oral care products specially the natural & herbal toothpaste has increased.
The outbreak of global pandemic, Covid-19 has resulted in temporary closure of many convenience stores, hypermarkets, and supermarkets to slow the spread of virus. This has resulted in steep decline in sales of herbal toothpaste. However, the decline in revenue from these store-based distribution channels is considerably compensated through nonstore-based distribution channels (online channels). Due to lack of accessibility of herbal toothpaste products in retail stores, consumers are inclining towards e-commerce channels for purchase of these products. However, shortage of products and logistics issueis anticipated to create supply-demand gap in online platforms as well.
Although, the demand for herbal based products is anticipated to increase, however issues such as supply chain, logistics, availability of raw materials, availability of workforce and many more is anticipated to cripple the growth of herbal toothpaste market up to some extent. Limited availability of raw materials and low manufacturing abilities of the producers is anticipated to build a supply demand gap, thereby resulting in spike in retail prices of herbal toothpaste for next couple of months.