In 2023, the oral care market reached a valuation of USD 32.61 billion, with projections indicating a growth to USD 42.45 billion by 2030, reflecting a compound annual growth rate (CAGR) of 3.84% throughout 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.”
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-
Availability of Various Flavors to Drive Toothpaste Segment Growth
The toothpaste segment is experiencing growth driven by the availability of diverse flavors such as mint, lime, strawberry, and others, leading the market in 2022 among product types, which include toothpaste, toothbrush, mouthwash, and others.
Increasing Household Consumer Spending to Drive Household Segment Growth
In terms of application, the household segment dominates the oral care market share during the forecast period, attributed to increasing household consumer spending on various daily oral care essentials. Additionally, growing consumer awareness regarding mouth hygiene further contributes to market expansion.
Easy Availability of Daily-Use Products to Drive Distribution Channel Segment Growth
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
Companies are actively concentrating on introducing innovative products, responding to the rising demand for advanced dental care items among consumers. This focus is anticipated to propel market growth in the forecast period. The adoption of cutting-edge technologies like 3D printing, artificial intelligence (AI), laser dentistry, and digital impressions in commercial dental care instruments is expected to be a significant driver for the expansion of the oral care market.
However, the increasing utilization of additives, including humectants, abrasive agents, and others in toothpaste and mouthwash products, aimed at enhancing taste and color, may pose a challenge to market growth. This is due to the potential for these additives to cause allergic reactions, which could hinder market growth during the projected period.
Regional Insights-
Large Presence of Geriatric Population to Boost Market Growth in Asia Pacific
Asia Pacific held a dominant oral care market share, accounting for USD 11.50 billion in 2022. The growth is attributed to the rising geriatric population in the countries, including Japan and China, resulting in the growing consumption of oral care products in the region.
North America and South America are estimated to witness significant growth during the forecast period due to the increasing spending on oral healthcare products in the regions.
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.
