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.
New York, NY -- (SBWIRE) -- 02/23/2016 -- The global market for deodorant and antiperspirant ingredients has witnessed a surge in its valuation, thanks to the rapidly increasing demand for deodorant and antiperspirant ingredients. In 2014, the global market stood at US$1,520 mn. Analysts expect the market to rise at a CAGR of 6.70% during the period from 2015 to 2021 and reach US$2,390 mn by the end 2021.
Aerosol Deodorants to Lead Deodorant Product Market while Aerosol Antiperspirants to Lead Antiperspirants Market
The worldwide deodorant and antiperspirant ingredients market can be segmented on the basis of deodorant product, antiperspirant product, and ingredient utilized.
Based on deodorant product, this market is classified into roll-ons, aerosol deodorants, wipes and creams, deodorant sticks, and solid deodorants. Among these, the aerosol deodorant segment is the current market leader. It is expected to hold a share of 75.3% in the total revenue generated in the global deodorant products market by the end of 2021, maintaining its dominance. Analysts project it to report a CAGR of 4.80% between 2015 and 2021.
Aerosol antiperspirants, antiperspirant sticks, roll-on antiperspirants, and solids antiperspirant are the major products segments of the global antiperspirants market. The aerosol antiperspirant segment has emerged as the market leader at present. It is projected to register the highest CAGR of 4.40% during the period from 2015 to 2021 among all the antiperspirant product segments due to the ease of using, aerosol antiperspirants offer. The roll-on antiperspirant segment is anticipated to hold a share of 15.6% in the overall market by the end of 2021.
Alcohol to Dominate Ingredient Segment with 35% Share
The increasing demand for deodorant and antiperspirant products with efficient antibacterial properties and long-lasting fragrance is the key factor propelling demand for ingredients significantly.
Alcohol, antimicrobials, aluminum, base/carrier substances, fragrances, conditioner and moisturizer, propellants and parabens are the major ingredients used in making deodorant and antiperspirant ingredients. Among these, alcohol witnesses the highest demand from the industry. Owing to this, the alcohol segment is anticipated to dominate the global market with a share of more than 35% in the coming years.
Europe to Retain Leadership in Global Deodorant and Antiperspirant Ingredients Market
Europe, Asia Pacific, North America, and the Rest of the World are the prime regional markets for deodorant and antiperspirant ingredients across the world. Among these, Europe has acquired the leadership at present. The economic prosperity in Europe allows its citizen to spend a hefty sum on luxury items such as deodorant and antiperspirant ingredients, which is propelling the demand for these items on a regular basis.
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This factor is likely to influence the Europe deodorant and antiperspirant ingredients market greatly in the coming years. Analysts expect this regional market to account for a share of more than 30% in the total revenue generated in the market between 2015 and 2021 and retain its leadership during this period.
Currently, North America and Asia Pacific hold the second and third position, respectively, in the global market for deodorant and antiperspirant ingredients.
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Unilever Co., L'Oreal Co., Procter & Gamble Co., Godrej Consumer Product Ltd., Avon Products Inc., CavinKare Pvt. Ltd., and Henkel AG & Co. KGaA are the key players in the global market for deodorant and antiperspirant ingredients.
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