The oral health ingredients market is set to witness healthy growth at a volume CAGR of 4% through the forecast period between 2019 and 2029
Rockville Pike, MD -- (SBWIRE) -- 04/25/2019 -- In 2019, oral health ingredients sales surpassed 10 Mn tons, and are likely to increase at 3.5% over 2018, according to a recent study of Fact.MR. The study assesses macro and microeconomic factors, such as increasing sales of oral care products and awareness about oral healthcare regimes, to present a comprehensive outlook on this fledgling market.
According to the Fact.MR study, over 7 Mn tons of oral health ingredients found applications in the toothpaste manufacturing in 2018, accounting for over 70% sales. While toothpaste and mouthwash production are both lucrative areas for oral health ingredients sales, toothpaste production accounts for nearly 3x oral health ingredients sales than in mouthwash.
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The study finds that leading toothpaste manufacturers are introducing new products with specialized capabilities such as gum health, plaque care, and teeth whitening. In addition, manufacturers are taking innovative approaches for product formulations in terms of texture, color, and flavor. This is fueling demand for innovative oral health ingredients, consequently favoring growth of the oral health ingredients industry.
The study finds that oral health ingredients have witnessed robust sales in mouthwash production in recent years, alluding bright future prospects influenced by increasing oral care awareness and demand for products with improved functionalities and performance. Additionally, introduction of mouthwash products with distinct functionalities along with radical benefits have further spurred their sales in the recent past.
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Consumer preference for branded and specialty toothpastes has provided an impetus to product innovation in the industry. The study also highlights the influence of changing consumer preference for toothpaste over mouthwash on salient future business strategies of oral health ingredient manufacturers.
Gains Complemented by Increasing Dental Care Expenditure
The Fact.MR study analyzes developments in oral health ingredients market, which are mainly attributed to growing awareness about the importance of healthy oral care regimes. The study also expects that continual efforts of the industry players towards expanding access to oral care products, along with the increasing investments by oral health ingredient industry players in R&D, to augur well for future growth of the market.
According to the American Dental Association (ADA), total dental care expenditure in the United States closed in on US$ 124 billion in 2018, recording a modest rise at over 3.0% from 2015. Oral health care professionals are recommending the use of a wide range of dental hygiene products, including toothpaste, gels, and mouthwash, for the prevention of severe oral diseases. With doctors promoting the use of oral care applications, the demand for innovative oral health ingredients is likely to surge.
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South Asia to Oust North America for Pole Position in Oral Health Ingredients Market
According to the Fact.MR study, North America continues to reign supreme in the oral health ingredients market. However, ever-evolving lifestyle of consumers and expanding oral care industry in South Asian countries, such as India, Thailand, and Malaysia, is expected to creative potentially robust and lucrative opportunities for oral health ingredients manufacturers.
According to the study, the oral health ingredients market players are investing heavily to expand their manufacturing facilities in developing nations, and leading oral health ingredient manufacturers are aiming to assess the sales potential in the region. The emergence of leading oral care companies, coupled with the government-led awareness campaigns, will make South Asia a lucrative market for oral health ingredients.
Fact.MR also offers a precise forecast of the oral health ingredients market for the period 2019 to 2029. The study predicts that the market will expand at a healthy CAGR of 4% through 2029.
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