Asia-Pacific Deodorants market is projected to grow at a CAGR of 4.11% during the forecast period 2020-2025.
- Increased working population spending an ample amount of time outdoor is demanding deodorants to keep their body fresh. The hot and humid seasonal climatic condition has primarily driven market growth.
- Convenient pack size and changing the use of deodorants among consumers have further fueled the market. Also, increasing expenditure on advertisement and promotion by key players is influencing the sales growth in the region.
Key Market Trends
Roll-on and Deodorant Sticks Remains Popular During the Forecast Period
Increased usage of non-aerosol deodorants and demographic factors has increasingly driven the market. The usage of deodorant sprays is more prevalent among men as compared to women in Asia-Pacific. Deodorant wipes occupy the small share owing to its recent addition in the market, witnessing a steady growth rate. Roll-on deodorant and stick deodorant which holds a significant percentage in the market is seeing the fastest growth rate.
Innovation in new formats and fragrance remains the key driving factor for the market. Marketing and promotion activities through media have further accelerated the brand growth by increasing consumer awareness regarding the content of the product. Consumers are now seeking deodorants containing natural ingredients due to rising adverse health effects of artificial ingredients in deodorants.
India Emerging as the Potential Market
Large young and working population coupled with a rising in disposable income have grown interested among consumers regarding their look. Also, the hot and humid climate resulting from sweating has further fueled the need for deodorants among consumers. India occupies the dominant share in the region which is projected to witness a significant growth rate during the forecast period, overcoming Australia to become the largest market for deodorants in Asia-Pacific in 2019.
The Asia-Pacific Deodorants market is competitive with many multinational giants occupying a major share of the market. Introducing new products meeting consumer needs is the primary strategy adopted by market leaders. Growing private label players positioning their product at a lower price than branded products are offering tough competition to the existing players. Some of the major players in the market studied include Procter & Gamble Co., Unilever Plc, L`Oreal S.A., ITC Limited among others.
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