The global refillable deodorants market size was valued at USD 186.41 million in 2023. The market is projected to grow to USD 272.50 million by 2030, exhibiting a CAGR of 5.57% during the forecast period. The growing popularity of organic deodorants made of naturally-derived ingredients will propel market augmentation. Companies are investing in research and development activities to create new fragrances from natural ingredients and enhance product packaging, which will further escalate market progression. This information is provided by Fortune Business Insights, in its report titled, “Refillable Deodorants Market, 2024-2030.”
Information Source:
https://www.fortunebusinessinsights.com/refillable-deodorants-market-107492
List of Key Players Mentioned in the Report:
- Unilever Plc (U.K.)
- The Procter & Gamble Company (U.S.)
- Grove Collaborative, Inc. (U.S.)
- Noniko (U.S.)
- Myro (U.S.)
- By Humankind, Inc. (U.S.)
- Fussy Ltd (U.K.)
- Proverb Skincare (U.K.)
- Helmm (U.S.)
- Asuvi (Australia)
Report Coverage:
The report makes inclusion of:
- Drivers, restraints, threats, and challenges affecting market trends
- List of key industry players
- Key developments undertaken by leading companies to boost profits
- Impact of COVID-19 on market valuation and growth
- Crucial insights into growth trends of each segment and region.
Drivers and Restraints:
Rising Preference for Naturally-Derived Products to Drive Market Escalation
The growing public interest in plant derivatives, especially essential oils used in the refillable deodorant industry, is a result of growing knowledge about organic products made from natural ingredients. Leading deodorant manufacturers have been prompted by this increased awareness to highlight natural fragrances in their products to increase sales. Leading companies like Humankind, Myro, Fussy, and others are also investing funds into developing new goods, which will accelerate the expansion of the refillable deodorant market. For instance, the eco-friendly deodorant company Fussy debuted a new rosé-inspired scented deodorant with bitter orange, grapefruit, and strawberry in July 2022.
Regional Insights:
Europe to Lead Owing to Expansion of Grooming Sector and Growing Number of Startups
Due to the expansion of the grooming industry, Europe held the lion's share of the refillable deodorant market in 2022. These days, consumers pay a lot of attention to their appearance and body odor, which is encouraging marketing expansion in the area. Additionally, the region's market will develop as a result of the growing number of startups and the introduction of cutting-edge products by Unilever plc and Procter & Gamble Inc.
The drivers of market augmentation in Latin America and the Asia Pacific are the expansion of the retail sector, the growing acceptance of the Westernised shopping culture, and the increasing income levels of consumers.
Competitive Landscape:
Product Launches by Industry Leaders to Propel Market Expansion
Leading players of refillable deodorants are making tactical decisions such as partnerships, mergers and acquisitions, and product launches to enhance geographical reach, maximize profits, and improve product portfolio. For instance, in February 2021, the Procter & Gamble Company announced the launch of its new refillable deodorants under its brands Secret and Old Spice. The new launch is due to the company's focus on increasing the portfolio of sustainable and biodegradable products.
Key Industry Development:
- July 2020: The Noniko company announced the launch of its new plastic-free deodorant which is made with stainless steel casing to pair with its namesake natural deodorants. As per the company, the product can be purchased through a subscription program and delivered to the customer's doorstep. This new launch will expand the company's refillable product portfolio in the growing competitive market.
