(I-BusinessNews.Com, September 22, 2020 ) The Factors such as the rising awareness about oral hygiene, growing incidence of dental diseases, and technological advancements in oral care products are expected to drive the growth of the Oral Care Market. Increasing the online purchase of oral care products is expected to create new growth opportunities for players operating in this market.
According to the new market research report the Oral Care Market is projected to reach USD 53.3 billion by 2025 from USD 45.8 billion in 2020, at a CAGR of 3.1%.
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Â Based on product, the market is categorized into toothpaste, toothbrushes & accessories, mouthwashes/rinses, denture products, dental accessories/ancillaries, and dental prosthesis cleaning solutions. In 2019, the toothpaste segment was expected to account for the largest share of the Oral Care Market. The large share of this segment can primarily be attributed to the enormous adoption of toothpaste for maintaining oral hygiene, the treatment of dental caries, and its use in post-surgical procedures.
Â By distribution channel, the Oral Hygiene Market is segmented into consumer stores, retail pharmacies, dental dispensaries, and online distribution. Online distribution is expected to grow at the fastest CAGR in the forecast period in this segment. This high growth can be attributed to the increase in the number of e-commerce platforms focused on oral care/oral hygiene products, better convenience and availability of a variety of products through this channel along with proper discounts.
Some of the key players competing in this market are Colgate-Palmolive Company (US), The Procter & Gamble Company (US), GlaxoSmithKline PLC (UK), Unilever PLC (UK), Koninklijke Philips N.V. (Netherlands), Johnson & Johnson (US), GC Corporation (Japan), 3M Company (US), Lion Corporation (Japan), Church & Dwight Co., Inc. (US), Sunstar Suisse S.A. (Switzerland), Perrigo Company plc (Ireland), Dabur India Ltd. (India), Orkla (Norway), Dentaid, Ltd (Spain), Henkel AG & Co. KGaA (Germany), LG Household and Health Care Ltd (South Korea), The Himalaya Drug Company (India), Young Dental (US), and Ultradent Products Inc (US).
Colgate-Palmolive Company (US) is a global leader in the toothpaste and manual toothbrushes market. The company provides advanced oral care products for kids and adults. High investment in R&D enables the company to develop new and advanced toothpaste and toothbrushes for the oral care market. The company invested approximately USD 281 million in 2019 in R&D. Though the company has a rich product portfolio of toothpaste and toothbrushes, the company does not offer denture products and prosthesis cleaning solutions.
The Procter & Gamble Company (US) is a pioneer in the oral care market. P&G has a strong product portfolio comprising around ten category-based business units and about 65 brands. Its flagship products in the oral care market include Crest and Oral-B toothpaste and toothbrushes. The company aims to focus on the discovery and development of technologically advanced oral care products. For example, the company is currently focusing on the development of a smartphone-connected toothbrush, a device that gives personalized advice to people for brushing.
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In 2019, the Asia Pacific was estimated to account for the largest share of the Oral Care Market, followed by Europe. The dominant share of the Asia Pacific is attributed mainly to the rising geriatric population, growing prevalence of dental diseases, increasing focus of prominent players on emerging Asian countries, increasing healthcare expenditure (coupled with the increasing disposable income), raising awareness on oral healthcare, and the willingness to spend more on dental care. Other factors, such as the growing number of dental professionals, along with the increasing number of dental visits, will further support the growth of the Oral Care Market in this regional segment during the forecast period.
Mr. Aashish Mehra
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Mr. Aashish Mehra