The global oral care market size was valued at USD 31.69 billion in 2022. The market is projected to grow from USD 32.61 billion in 2023 to USD 42.45 billion by 2030, exhibiting a CAGR of 3.84% during the forecast period.
The growing development of electric toothbrushes, charcoal-based teeth cleaners, and dental whitening items will drive market growth during the forecast period. Many oral care brands, including Twice, Quip, and Candid, offer cost-effective oral hygiene products to raise product accessibility globally.
Fortune Business Insights™ mentioned this in a report titled, “Oral Care Market, 2023-2030.”
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-
Availibilty of Various Flavors to Drive Toothpaste Segment Growth
By product type, the market is segmented into toothpaste, toothbrush, mouthwash, and others. The toothpaste segment led in 2022 due to th availibilty of numerous flavors such as mint, lime, strawberry, and others.
Increasing Household Consumer Spending to Drive Household Segment Growth
By application, the market is classified into household and commercial. The household segment holds the largest oral care market share during the forecast period owing to the increasing household consumer spending on different daily uses of oral care staples. The rising consumer awareness about mouth hygiene also boosts market growth.
Easy Availability of Daily-Use Products to Drive Distribution Channel Segment Growth
By distribution channel, the market is classified into hypermarkets/supermarkets, convenience stores, online, and others. The hypermarkets & supermarkets segment holds the largest market share during the forecast period due to the easy availability and large variety of daily-use items, including toothbrushes, toothpaste, liquid washers, and others in hypermarkets/supermarkets.
Geographically, the market is studied across North America, Europe, Asia Pacific, South America, and the Middle East & Africa.
Report Coverage-
The report offers:
Major growth drivers, restraining factors, opportunities, and potential challenges for the market.
Comprehensive insights into regional developments.
List of major industry players.
Key strategies adopted by the market players.
The latest industry developments include product launches, partnerships, mergers, and acquisitions.
Drivers & Restraints-
Growing Focus of Companies on Product Innovations to Drive Market Growth
The companies are focusing on launching innovative products due to the increasing use of advanced dental care products by consumers, which will boost market growth during the forecast period. The increasing use of 3D printing & AI, laser dentistry, and digital impressions in commercial dental care instruments will drive oral care market growth during the forecast period.
The growing use of additives, such as humectants, abrasive agents, and others in toothpaste and mouthwash products to improve their taste and color, leading to allergic reactions, may hinder market growth during the projected period.
Regional Insights-
Large Presence of Geriatric Population to Boost Market Growth in Asia Pacific
With a market share of USD 11.50 billion in oral care in 2022, Asia Pacific commanded a commanding lead. The region's expanding use of dental care products is a result of the growing senior population in several nations, notably China and Japan.
Due to the regions' rising expenditure on oral healthcare goods, North America and South America are predicted to have considerable increase during the projected period.
Competitive Landscape-
Increasing Key Players Focus on Product Innovations to Propel Market Growth
The growing focus of key players on developing technology-enabled oral care products to attract a large consumer base will drive oral care market growth during the projected period. The major market players are keen to launch new product lines that cater to the growing consumer needs, including prevention from oral virus infection, sensitivity and whitening control, teeth decaying, and others, boosting market growth during the forecast period.
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.
Information Source:
https://www.fortunebusinessinsights.com/oral-care-market-103533