"According to the study, the global deodorant market will be worth US$ 30.76 Bn by 2026 from US$ 22.54 billion in 2018, with a promising CAGR of 4.0%
According to Fortune Business Insights, the global deodorant market size is predicted to reach USD 30.76 billion by 2026, exhibiting a CAGR of 4.0% during the forecast period. The growing inclination towards hygienic lifestyle among consumers will spur demand for deodorants, which in turn, will boost the deodorant market growth during the forecast period.
The rising emphasis on personal health and sanitation will enable healthy growth of the market during the forecast period states Fortune Business Insights in a report, titled “Deodorant Market, 2019-2026” the market size stood at USD 22.54 billion in 2018.
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The emergence of COVID-19 has brought the world to a standstill. We understand that this health crisis has brought an unprecedented impact on businesses across industries. However, this too shall pass. Rising support from governments and several companies can help in the fight against this highly contagious disease. There are some industries that are struggling and some are thriving. Overall, almost every sector is anticipated to be impacted by the pandemic.
Deodorant Market Report Scope & Segmentation:
Fortune Business Insights™ lists out all the deodorant market companies that are presently striving to reduce the impact of Covid-19 pandemic on the market:
- Unilever PLC
- The Procter & Company
- Beiersdorf AG
- Henkel AG & Co KGaA
- L'Oreal SA
- Sky Organics
- Speick Natural Cosmetics
- Truly's Natural Products
- Spirit Nest
- EO Products
Acquisition of Schmidt’s Naturals by Unilever to Foster Growth
Unilever, a British-Dutch transnational consumer goods company co-headquartered in London announced the acquisition of Schmidt’s Naturals an American personal care company based in Portland, Oregon. The deal between the two companies can be a vital factor in promoting growth of the deodorant market owing to the company’ aim to expand its product portfolio and customer base leveraging the prominence of the acquired company.
Furthermore, Jaime Schmidt, founder of Schmidt’s Naturals, said in a statement, “Thanks to our community, what started humbly in my kitchen and local farmers’ markets has grown into homes worldwide.
I am proud to say that as a result of our partnership with Unilever, we are better positioned than ever in our mission to make natural products accessible to all. Moreover, Unilever’s substantive actions towards creating a more sustainable and equitable future for diverse peoples across the planet further fuels the enthusiasm behind our alliance.”
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Presence of Biggest Cosmetics Brands to Propel Market in Europe
The market in Europe generated a revenue of USD 6.92 billion in 2018 and is predicted to grow rapidly during the forecast period owing to the strong presence of renowned brands such as L'Oréal, Beiersdorf, Avon, Unilever, and others in the region. Moreover, the growing inclination of people towards hygiene and personal care will augment healthy growth of the market in the foreseeable future. North America is likely to grow rapidly during the forecast period owing to the rising awareness regarding hygiene and sanitation. The surge in employment rate in the region will subsequently boost the market in North America. The rising consumption of more cosmetic products will augur well for the market. The growing popularity for fitness and sports will create lucrative business opportunities in the forthcoming years for the market in North America.
Rеаѕоnѕ to Get thіѕ Rероrt:
- A qualitative and quantitative market study based on segmentation that includes both economic and non-economic factors
- Data on market value for each section and sub-segment
- Indicates the region and market segment that is likely to expand the fastest and dominate the market.
- The consumption of the product/service in each region is highlighted, as are the factors affecting the market within each region.
- The competitive landscape includes the top players' market rankings, as well as new service/product launches, collaborations, company expansions, and acquisitions made by the companies profiled in the last few years.
Detailed Table of Content:
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Emerging Trends
- Key Insights
- Overview of the Parent/Related Markets
- Industry SWOT Analysis
- Supply Chain and Regulatory Analysis
- Recent Industry Developments - Policies, Partnerships, New Product Launches, and Mergers & Acquisitions
- Global Deodorant Market Analysis, Insights and Forecast, 2015-2026
- Key Findings / Summary
- Market Size Estimates and Forecast
- By Product Type (Value)
- By Packaging Material (Value)
- By End-User(Value)
- By Region (Value)
- North America
- Asia Pacific
- South America
- Middle East & Africa
Key Industry Developments:
- February 2019 – Unilever announced the launch of mini spray deo for 4 brands and deodorant wipes for 5 of its brands. The brands include Dove, AXE, Dove Men+Care, and Degree Men and Women. The products are intended to be used for the deodorization of underarms, neck, and chest.
- May 2019 – Procter and proclaimed its acquisition of Native Deodorant, which is a San Francisco based company in 100 USD million.It is a direct-to-consumer natural deodorant brand. This acquisition is expected to expand Procter & ’s product portfolio.
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Frequently Asked Questions (FAQs):
1. How much is the deodorant market worth?
Answer: Fortune Business Insights says that the global market size was USD 22.54 billion in 2018 and is projected to reach USD 30.76 billion by 2026.
2. What was the value of the global deodorant market in 2018?
Answer: In 2018, the market value stood at USD 22.54 billion.
3. At what CAGR is the deodorant market projected to grow in the forecast period (2019-2026)?
Answer: Growing at a CAGR of 4.0%, the market will exhibit steady growth in the forecast period (2019-2026).
Fortune Business Insights™ offers expert corporate analysis and accurate data, helping organizations of all sizes make timely decisions. We tailor innovative solutions for our clients, assisting them to address challenges distinct to their businesses. Our goal is to empower our clients with holistic market intelligence, giving a granular overview of the market they are operating in.
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