Deodorant Market Size was valued at USD 26.6 Billion in 2022. The deodorant market industry is projected to grow from USD 28.32 Billion in 2023 to USD 46.88 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 6.50% during the forecast period (2023 - 2032). One of the main market drivers fueling the market's expansion is the rising demand for personal grooming products together with the rise in female workforce participation.
Source Secondary Research, Primary Research, MRFR Database and Analyst Review
The expansion of the economy, combined with an increase in the number of dual-income families, resulted in changes in lifestyle and an improvement in the standard of living. These factors are projected to promote market expansion throughout the forecast period. Furthermore, expanding cosmetic and fragrance product promotional activities on television, print media, radio, and social media are playing an important role in raising product awareness. According to Sprout Social research, in 2019, U.S. marketers are expected to use 75.3% Twitter, 86.8% Facebook, 66.5% Instagram, and 51.9% YouTube for social media marketing. Furthermore, fierce competition among the major players has resulted in the manufacture of the greatest products possible in order to capture more consumers, which is serving as a blossoming element for the generation of greater revenue.
The demand for the products is being driven by the growing awareness of a healthy and natural lifestyle among the world's population. In order to effectively hold odor for a long time, stick deodorant that is firm and non-sticky in texture has become quite popular. For instance, Nivea asserts that its pearl & beauty antiperspirant deodorant stick provides 48 hours of protection and leaves the underarms feeling smooth, soft, and attractive. Furthermore, due to its excellent odor-elimination performance, skin friendliness, aluminum-free composition, and other factors, organic deodorant is anticipated to draw more consumers in the upcoming years. The fact that organic deodorant doesn't leave stains on clothing is another important aspect that contributes to the increased demand for the product.
In recent years, a key component of product development and marketing has been the usefulness and adaptability of deodorants. Their customers' purchasing power is increasing, which encourages them to spend money on upscale and appealing products. As a result, deodorant manufacturers alter their product packaging and designs to take advantage of fresh market expansion prospects. As a result, the industry saw numerous releases that emphasized eye-catching designs and distinctive packaging techniques. These characteristics are anticipated to be demonstrated as a key element in product differentiation in the cutthroat deodorant market. The sustainable packaging idea for deodorants was becoming more and more popular among customers, giving brands more opportunity to expand the market for their goods. Thus, driving the deodorant market revenue.
The deodorant market segmentation, based on end-user includes Men and Women. The men segment dominated the market because more men than women participate in sports like basketball, football, cricket, and other activities. These athletes are increasingly prone to use deodorants to mask their unpleasant, sweaty stench.
Figure 1: Deodorant Market, by End-User, 2022 & 2032 (USD Billion)
Source Secondary Research, Primary Research, MRFR Database and Analyst Review
The deodorant market segmentation, based on packaging material, includes Metal, Plastic and Others. The plastic category generated the most income. Glass and paper are less shock-resistant than containers made of plastic. Plastic is a common choice to pack deodorant due to its durability. Due to its lower cost in contrast to other natural resources, it is commonly chosen over other types of materials. Plastic deodorant is lightweight and convenient to carry when traveling.
The deodorant market segmentation, based on product type, includes Spray, Roll-On, Stick and Others. The spray category generated the most income. The spray segment is anticipated to rule the deodorant market throughout the projected period due to rising consumer demand for products with features such rapid drying that prevent stains on garments. Spray deodorant is neither sticky nor moist compared to other products, which helps the spray segment thrive on the market.
By region, the study provides the market insights into North America, Europe, Asia-Pacific and Rest of the World. The North American deodorant market area will dominate this market because people in the area are more conscious of the importance of maintaining their personal hygiene and wellness. The region of North America is experiencing a rising job rate, which is speeding the purchasing power and, in turn, driving up the purchase of cosmetics like de goods. Additionally, the market is growing in North America as a result of rising consumer interest in health and fitness.
Further, the major countries studied in the market report are the US, Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
Figure 2: DEODORANT MARKET SHARE BY REGION 2022 (USD Billion)
Source Secondary Research, Primary Research, MRFR Database and Analyst Review
Europe deodorant market accounts for the second-largest market share. Due to the presence of numerous cosmetics industry titans in the area, the market is anticipated to exhibit strong expansion over the next years. Additionally, the majority of people in this region have a tendency toward living hygienically and as a result, view the need for deodorant as an essential part of their daily lives, which in turn serves to increase product demand. Further, the German deodorant market held the largest market share, and the UK deodorant market was the fastest growing market in the European region.
The Asia-Pacific Deodorant Market is expected to grow at the fastest CAGR from 2023 to 2032. In the Asia-Pacific, particularly in countries like South Korea, Japan, India, and China, the personal care business is growing as a result of the region's rising economic growth. A further development in the Asia-Pacific region is the rise in the proportion of dual-earner households, which gives consumers additional purchasing power and incentivizes them to buy personal care products. Moreover, China’s deodorant market held the largest market share, and the Indian deodorant market was the fastest growing market in the Asia-Pacific region.
Leading market players are investing heavily in research and development in order to expand their product lines, which will help the deodorant market grow even more. Market participants are also undertaking a variety of strategic activities to expand their footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, the deodorant industry must offer cost-effective items.
Manufacturing locally to minimize operational costs is one of the key business tactics used by manufacturers in the deodorant industry to benefit clients and increase the market sector. In recent years, the deodorant industry has offered some of the most significant advantages to medicine. Major players in the deodorant market are attempting to increase market demand by investing in research and development operations includes 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.).
Skin care and self-adhesive product solutions are developed and marketed by Beiersdorf AG (Beiersdorf). The company's product line includes deodorants, body care, lip care, sun protection, anti-aging skin care, hand care, hair care, aroma compositions, and plaster and wound treatment. For industry, craft enterprises, and consumers, it also offers self-adhesive products and solutions. The business provides services to the construction, pharma, printing, electrical engineering, and electronics industries.
A producer and marketer of consumer and industrial goods, Henkel AG & Co KGaA (Henkel) operates in Germany. The company's product line consists of adhesives, sealants, functional coatings, hair cosmetics, hair salon supplies, oral care, skin care, and body care items, as well as laundry detergents and additives, hard surface cleaners, toilet care, air care, and insect control goods. The business provides services to a number of publishers and manufacturers of fabrics, furniture, computers, books, magazines, and packaging.
Key Companies in the deodorant market include
Deodorant Industry Developments
September 2022 Schmidt's, a new certified natural aerosol deodorant brand from Unilever PLC, was introduced. The company would be able to provide a wider range of products in the beauty and personal care market thanks to the launch.
June 2022 The Weightless Dry Spray line was created under the Procter & Gamble Secret brand. It includes options for antiperspirant and aluminum-free deodorants, which help prevent sweat and odor.
May 2021 Grove Collaborative announced the extension of its personal care range with the introduction of the world's first deodorant and body care refill system made entirely without plastic. The company's goal to eliminate all plastic by 2025 will be announced by the news.
© 2024 Market Research Future ® (Part of WantStats Reasearch And Media Pvt. Ltd.)