(I-BusinessNews.Com, October 22, 2020 ) The increase in the prevalence of dental caries, periodontal diseases, and other dental diseases; growing awareness about oral hygiene, rising dental healthcare expenditure; and an increasing number of small/private clinics with dental dispensaries are some of the factors contributing to the growth of this oral care market.
According to the new market research report the oral care products 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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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.
Colgate-Palmolive has a strong geographic presence across North America, Europe, the Asia Pacific, Latin America, and Africa. The company significantly focuses on innovations, product enhancements, and product launches. It also focuses on strengthening customer engagement through promotional activities. Colgate conducts seminars and campaigns to create awareness about oral health.
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The Procter & Gamble Company (US) is a pioneer in the oral care products 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.
The company has a strong geographic presence across the globe. In the US, the company has 24 manufacturing sites located in 18 states and 97 manufacturing sites in 38 countries. The company has 17 manufacturing sites for the healthcare business segment, which includes oral care products across the globe. P&G focuses on product launches as its primary growth strategy. The company also focuses on promotional activities to strengthen its position in the oral care products market. The advertisement expenditure of P&G is 11% of the annual sale of the company. The company targets dental institutes, private dental practitioners, pharmacies, and other distribution channels to promote and sell its products.
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In 2019, the Asia Pacific was estimated to account for the largest share of the oral care products 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 hygiene Market in this regional segment during the forecast period.
Mr. Aashish Mehra
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Mr. Aashish Mehra