According to the report, the global deodorant and antiperspirant ingredients market was valued at US$ 1,520 Mn in 2014 and is anticipated to reach US$ 2,390 Mn by 2021, registering a compound annual growth rate (CAGR) of 6.7% through the forecast period.
New York, NY -- (SBWIRE) -- 01/27/2016 -- Antimicrobials and fragrances used in deodorants help to reduce unpleasant body odor caused due to a growth of microbes; whereas antiperspirants are used to reduce perspiration through the use of pore-blocking agents such as aluminum or other alternatives. The increase in per capita disposable income among consumers across the globe and particularly in developing markets is resulting in increasing demand for deodorant and antiperspirant products on a year-over-year basis. Furthermore, deodorants and antiperspirants are among the fastest growing products in terms of volume demand amongst the various personal care products. The annual average growth rate of these products in terms of volume has increased by over 5% between 2010 and 2015. The surge in demand for deodorants and antiperspirants has catalyzed the deodorant and antiperspirant ingredients market. Over 20 different ingredients are used to manufacture deodorants and antiperspirants, of which the prominent ingredients include alcohol, conditioner and moisturizers, base and carrier substances, paraben and propellants, fragrances, antimicrobials, and aluminum.
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The global deodorant and antiperspirant ingredients market is estimated to account for US$ 1,619 million in 2015, which is expected to increase to US$ 2,390 million by 2021, registering a CAGR of 6.7% over the forecast period. Among all the ingredients, alcohol is estimated to account for the largest share in terms of value, accounting for approximately 28% of the global deodorant and antiperspirant in 2015. Moreover, in terms of growth rate during the forecast period, fragrances as an ingredient in deodorants and antiperspirants is projected to reflect highest CAGR of over 10%. The antimicrobials ingredient segment has registered a 7% CAGR in the past seven years, which is expected to surpass 8% post-2017, indicating a shift in the usage of antimicrobials in deodorants and antiperspirants.
Concerns among consumers regarding the use of aluminum in antiperspirants is hampering preference and demand for generic antiperspirants products. Aluminum salt is one of the key Ingredients used in antiperspirants as it inhibits sweating, thus restraining bacterial growth and body odor. Usage of antiperspirants that contain aluminum salt leads to deposition of aluminum salts over pores of the skin, which could be harmful to a certain extent. Moreover, growing awareness regarding health and safety among consumers globally could restrain demand for such antiperspirants in the near future. Keeping in mind the associated risk of skin damage and diseases such as cancer due to a usage of aluminum and alcohol, companies are currently reducing the use of these ingredients in antiperspirants and opting for other alternatives such as caffeine, sodium bicarbonate, and aluminum potassium sulphate. A detailed analysis of attractiveness in each ingredient type has been highlighted in the report.
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Key market participants profiled in the report include Unilever Company, Procter & Gamble, L'Oreal Company, Avon Product Inc., Shiseido, CavinKare Pvt. Ltd., Henkel AG & Company KGaA, Beiersdorf AG, Godrej Consumer Products Ltd.
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