The global oral care market reached a value of USD 32.61 billion in 2023 and is projected to expand to USD 42.45 billion by 2030, with a CAGR of 3.84% during the forecast period. This growth is fueled by the increasing adoption of electric toothbrushes, charcoal-based teeth cleaners, and dental whitening products.
Information Source: https://www.fortunebusinessinsights.com/oral-care-market-103533
List of Key Players Present in the Oral Care Market:
- Colgate Palmolive Co. (U.S.)
- Unilever (U.K.)
- Procter & Gamble Co. (U.S.)
- Henkel AG & Co. KG aA (Germany)
- Johnson & Johnson Services, Inc. (U.S.)
- GlaxoSmithKline Plc. (U.K.)
- Lion Corporation (Japan)
- Church & Dwight Co. Inc. (U.S.)
- Reckitt Benckiser Group Plc. (U.K.)
- Patanjali Ayurved Limited (India)
Segments:
- Toothpaste Segment: The toothpaste segment, offering various flavors like mint, lime, and strawberry, dominated in 2022.
- Household Segment: The household segment, driven by rising consumer spending and awareness about oral hygiene, is expected to hold the largest market share.
- Distribution Channel Segment: Hypermarkets/supermarkets lead due to the easy availability and wide variety of daily-use oral care products.
Geographical Insights:
- Asia Pacific: With a dominant market share of USD 11.50 billion in 2022, Asia Pacific benefits from a large geriatric population.
- North America and South America: These regions are anticipated to witness significant growth, driven by increased spending on oral healthcare products.
Drivers & Restraints:
- Product Innovations: Companies focusing on innovative products, leveraging technologies like 3D printing and AI, are expected to drive market growth.
- Additives Concerns: The use of additives in oral care products, leading to allergic reactions, might hinder market growth.
Competitive Landscape:
- Key Players: Major companies are investing in technology-enabled oral care products to attract a larger consumer base.
- Product Innovation: Launching new product lines catering to various consumer needs such as oral virus prevention and sensitivity control will drive market growth.
Notable Industry Development-
February 2020 – Albea Group, in partnership with Colgate Palmolive Co. Ltd., has launched a recycled, HDPE material-based toothpaste tube in the U.K. The toothpaste was launched under the Colgate Smile for Good brand in the U.K. and Tom’s of Maine brand in the U.S.