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Global Deodorants and Antiperspirants Market Value to increase 1.6x by 2032; Deodorants to account for 65% of total Revenue: Fact.MR Report

FACT.MR
Updated 8 min read
FACT.MR
FACT.MR

Rapid urbanization and the increased development of novel products by key companies to meet rising demand are driving market expansion

Seoul, Sept. 30, 2022 (GLOBE NEWSWIRE) -- During the forecast period 2022-2032, the deodorants and antiperspirants market is expected to grow at a value of 5.1% CAGR, according to Fact.MR. By the year 2032, the global market for deodorants and antiperspirants is expected to rise up to a market valuation of US$ 44.5 Billion. Personal care products such as deodorant and antiperspirant are used to decrease or eliminate sweat and body odor. These products contain a range of ingredients, such as carriers, fragrance, and antibacterial agents. Furthermore, these chemicals increase the shelf life, wetness, and other qualities of deodorants and antiperspirants.

Growth in the deodorant and antiperspirant market is being driven by consumers' rising disposable money and growing awareness of personal cleanliness. Furthermore, rising urbanization and the increased launch of innovative goods by key rivals to fulfill expanding demand are driving market growth. Aluminum salt is an important ingredient in antiperspirants because it reduces sweat, reducing bacterial growth and body odor. The use of aluminum salt-containing antiperspirants causes the deposition of aluminum salts over the pores on the skin, which may be dangerous to some extent. Furthermore, deodorants and antiperspirants include propellants and volatile organic compounds that degrade the ozone layer, producing environmental imbalance. These medications should be used in moderation. These factors can hinder the market growth during the forecast period.

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During the projected period, the US market will be the most profitable for deodorants and antiperspirants. Personal care and grooming products, such as deodorants and antiperspirants, are popular among the American urban population. They are regular consumers of such products due to their high lifestyle and concern for sustaining the status quo. The Chinese market, on the other hand, is expected to be the fastest growing market for deodorants and antiperspirants. Since most Chinese people believed that perspiration was helpful because it detoxified the body, most deodorant and antiperspirant companies found it difficult to market their products in the country. However, as European and American traditions infiltrate the Chinese populace, tolerance and liking for deodorant and antiperspirant products has risen. Such factors will propel the growth in this region.

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