Antiperspirants & Deodorants Market to Hit USD 54.2 billion by 2032, Driven by Innovations & Growing Demand

Innovative Products and Rising Consumer Demand Propel Antiperspirants and Deodorants Market

AUSTIN, TX, UNITED STATES, December 13, 2024 /EINPresswire.com/ --

The worldwide Antiperspirants and Deodorants market was valued at USD 31.6 Billion in 2023 and is projected to attain a value of USD 54.2 billion by 2032, growing at a CAGR of 6.2% from 2024 to 2032.

Market Analysis

The growth of the antiperspirants and deodorants market can mainly be attributed to the changing consumer trends towards innovative formulations and sustainable products. Consumer Trends Consumers are on the lookout for antiperspirants and deodorants which help to prevent odour as well as long-lasting freshness and skin-friendly ingredients. Furthermore, the increasing knowledge about hygiene and well-being coupled with a growing fear of body odour is fueling the growth of this industry. The adoption of new products with natural, organic, and chemical-free ingredients is expected to be a major growth driver in the market for home fragrances as it resonates with environment-conscious consumers. That's why businesses are starting to promote aluminum-free antiperspirants and deodorants because people are concerned about products that are gentle on sucky skin and environmentally friendly. Moreover, the development of highly effective deodorant products, such as gels, sprays, and sticks, such as gels, sprays, and sticks, and the creation of innovative products through technological advancements have made this category attractive among new product offerings.
Improved formulations and ingredient disclosures have also been driven by consumer safety regulations that many governments are now imposing and a recent shift toward transparency in products. These regulations have ensured that manufacturers prioritize consumer health and wellness while simultaneously promoting eco-conscious packaging solutions. Such initiatives are in alignment with growing consumer demand for both effective and ethical products.

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Market Segmentation

By Product Type
The spray segment accounted for a large market share in 2023 owing to its convenience, ease of application, and instant freshness. Sprays are also often preferred due to their quick-drying properties and ability to eliminate odor, making them increasingly popular with active lifestyle consumers. This segment is witnessing continuous innovation with manufacturers emphasizing aerosol-free sprays & those prepared with natural ingredients. Demand for foam and gel products is increasing as they provide skin-care benefits and are suitable for sensitive skin consumers. They offer a milder experience and are more appealing to those seeking soothing or moisturizing benefits from their deodorant and antiperspirant.
Stick and roll-on format continues to be the most conventional and widely used segment in the market especially owing to their portability and non-leakage characteristics. This particular segment never fails to attract consumers who are mindful of their budget, and others who want to invest in longer-lasting, dependable protection.

By Distribution Channel
The store-based distribution channel dominated the market with a 58% share in 2023. This segment includes both supermarkets/hypermarkets and retail pharmacies, which remain the go-to locations for many consumers due to convenience and accessibility. In-store displays and promotions also play a crucial role in driving sales in this segment.
The online retail channel is witnessing swift growth as more consumers choose to buy their personal care products online because of the convenience it provides and the larger number of brands available. They say the growth for this channel will be significant during the forecast period due to the rising inclination towards e-commerce and home delivery services. This transition to digital shopping has also been propelled to a large extent by the COVID-19 pandemic, which has aided the surge in online sales of personal care.

Key Players:
• Benetton Group S.r.l.
• Unilever Company
• Procter & Gamble
• L’Oreal Company
• Avon Product Inc
• Nike, Inc.
• CavinKare Pvt. Ltd
• Kao Corporation
• Henkel AG & Company KGaA
• Coty Inc., Beiersdorf AG
• Godrej Consumer Products Ltd.
• Church & Dwight Co., Inc.
• Colgate-Palmolive Company
• L'Occitane International S.A.

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Regional Analysis

The Asia-Pacific region dominated the market and accounted for 34% revenue share in 2023. The demand is driven by increasing disposable incomes, rising awareness regarding hygiene, and changing lifestyle patterns, particularly among younger generations. Furthermore, the growing beauty and wellness trends in countries such as India, China, and Japan are influencing a significant shift in consumer preferences toward personal care products. In addition, the expanding middle class and rapid urbanization are contributing to the growth of retail outlets and online shopping platforms, thereby enhancing market penetration in this region.
The North American region growing with a significant growth rate, driven by the presence of numerous global brands, along with increasing consumer awareness regarding the importance of hygiene and personal care. In addition, innovations in formulations, such as natural and organic products, have driven growth in this region. The United States, in particular, continues to be a major consumer of personal care products, with an ever-growing demand for premium, chemical-free, and sustainable options.

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Recent Developments

• In April 2024, Procter & Gamble (P&G) launched an innovative line of aluminum-free antiperspirants in the North American market, responding to the increasing demand for natural and sustainable alternatives in personal care.
• In March 2024, Unilever unveiled a new range of deodorants and antiperspirants with eco-friendly packaging, aligning with growing consumer preferences for sustainable and recyclable packaging solutions.

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