The global oral care market size is projected to reach USD 38.89 billion by the end of 2027. Increasing awareness regarding the importance of dental hygiene will lead to a wider product adoption. According to a report published by Fortune Business Insights, titled “Oral Care Market Size, Share & Industry Analysis, By Product Type (Toothbrush, Toothpaste, Mouthwash, and Others), Application (Household and Commercial), Distribution Channel (Hypermarket/Supermarket, Online, and Others), and Regional Forecast, 2020-2027,” the market was worth USD 30.91 billion in 2019 and will exhibit a CAGR of 3.1% during the forecast period, 2020-2027.
Oral care products are widely used to maintain the hygiene as well as conduct a few procedures that are used to maintain oral hygiene. The changing consumer habits towards oral care have created a huge demand for oral care products across the world. The presence of several large scale companies in the dental sector will emerge in favor of market growth. Increasing awareness regarding the importance of oral care and maintaining proper hygiene will create several growth opportunities for the companies operating in the market. The rising incidence of mouth cancer resulting from improper dental care has contributed to the growing awareness regarding its importance. Moreover, recent product innovations have also played a huge part in the growth of the market.
Decreasing Labor Availability to Affect Manufacturing Units in Oral Care Sector
The recent coronavirus outbreak has created a sense of panic across the world. The measures taken to curb the spread of the disease have had an adverse effect on several businesses across the world. The strict measures such as lockdowns and social distancing practices have urged people to stay indoors. As a result, there has been a massive shortage in labor and manual workforce. The Covid-19 pandemic has thus, affected several manufacturing units in the oral care market in the past few years. Having said that, the e-commerce services have provided a platform for growth for a few sectors in the oral care industry.
Browse In-depth Summary of This Research Insight: https://www.fortunebusinessinsights.com/oral-care-market-103533
Increasing Number of Company Mergers and Acquisitions will have a Huge Impact on Market Growth
The report encompasses several factors that have contributed to the growth of the overall market in recent years. Among all factors, the increasing number of company mergers and acquisitions has made the highest impact on the growth of the market. Accounting to the massive potential held by oral care products, several large scale companies are looking to acquire SMEs with the bid to establishing a stronghold in the market. In June 2019, Unilever announced that it has completed the acquisition of Fluocaril and Parogencyl oral care businesses in France and Spain respectively. This acquisition is consequential to the company’s plans of strengthening its global footprint. Increasing number of such company acquisitions will have a massive impact on the growth of the overall market in the coming years.
Asia Pacific to Emerge Dominant; Increasing Geriatric Population will Emerge in Favor of Market Growth
The report analyses the ongoing market trends across five major regions, including North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. Among all regions, the market in Asia Pacific is projected to emerge dominant in the coming years. The rising geriatric population in countries such as India, China, and Japan will create several growth opportunities for the companies operating in the market. Moreover, the preference towards herbal oral care products will create several growth opportunities for the companies operating in this region. As of 2019, the market in Asia Pacific was worth USD 10.83 billion and this value is projected to rise at a considerable pace in the coming years.
List of companies profiled in the report:
Colgate Palmolive Co. (New York, U.S.)
Unilever (London, U.K.)
Procter & Gamble Co. (Ohio, U.S.)
Henkel AG & Co. KG aA (Düsseldorf, Germany)
Johnson & Johnson (New Jersey, U.S.)
GlaxoSmithKline Plc. (Brentford, U.K.)
Lion Corporation (Tokyo, Japan)
Church & Dwight Co. Inc. (Ewing Township, U.S.)
Reckitt Benckiser Group Plc. (Slough, U.K.)
Patanjali Ayurved Limited (Haridwar, India)
January 2020: Colgate Palmolive Co. announced that it has completed the acquisition of Hello Products LLC. The company is engaged in premium oral care business and through its acquisition, the company will look to strengthen Colgate’s footprint in the market