The global deodorant market is projected to grow at a modest CAGR of 3.8% during the forecast period (2021-2027). The major aspect that drives the growth of the market includes changing lifestyles and intensifying focus on personal hygiene. There has been a growth witnessed in spending on beauty and personal care products throughout the globe. Urbanization is leading to a modern lifestyle that has urged individuals to focus on themselves, thus more and more individuals are opting for various products including deodorants. Rising disposable income and the availability of a variety of products & organic and natural products are the major factors that have played an imperative role in the increased spending on deodorants across the globe. Hence, this is a major driving factor for the market. The deodorants market is also flourished by the launches of body sprays with new fragrances and scents in the personal care industry, especially in emerging economies.

Further, the growing shift of consumers towards organic and natural personal care products due to fewer side effects is estimated to offer the growth of the market. Organic deodorant products are being developed with the combination of ingredients and raw materials extracted naturally without the involvement or the negligible amount of synthetic chemicals. Moreover, continuous product development through organic ingredients and increasing consumer spending on organic materials are gaining the market player’s attention for further product enhancement. 

Segmental Outlook

The global deodorant market is segmented on the basis of product type and distribution channel. Based on the product type, the market is segmented as spray, roll-on, stick, and others. The other segment includes cream, gel, and wipes. Based on the distribution channel, the market is segmented as supermarkets & hypermarket, specialized cosmetic stores, and online channels. 

Online Channel Segment to Hold a Significant Market Share 

Amongst the distribution channel segment of the global deodorant, the online channel segment is projected to hold the most lucrative share in the market. Online platforms have been gaining significance owing to the rising trend towards online shopping owing to the convenience and busy lifestyle of consumers. There is also increasing importance of e-commerce portals as a product selling medium, on account of providing access to products through key benefits such as favorable discounts and cash-on-delivery features, that are expected to create new opportunities for the segmental growth over the forecast period. 

For instance, in the US, as per the US Census Bureau, the third quarter 2020 e-commerce estimate increased 36.7% from the third quarter of 2019. Owing to the rising e-commerce sector, the rising number of online selling platforms for customers has been witnessed over the years. Hence, this is likely to drive the segmental growth of the market over the forecast period.

Global Deodorant Market, by Distribution Channel 2020 (%)

Regional Outlook

The global deodorant market is segmented into North America, Europe, Asia-Pacific, and the Rest of the World. The North American region is projected to hold a significant market share. The US and Canada are the major economies primarily contributing to the growth of the deodorant market in the region. The regional growth of the market is accredited to the region being one of the strongest economies across the globe, comprising more than 21.3% of the global economy as per the International Monetary Fund in 2019. The population base of ages ranging between 18-64 is the major consumer of personal care products. 

As per the US Census Bureau, in 2017, the total population in the US was 325.7 million, of which 62% was constituted by 18-64 age group people. The considerable presence of the targeted population base is contributing to the demand for the deodorants market in the North American region. Furthermore, the region is also the home to major market players that are adopting strategies including mergers and acquisitions, collaboration, and strategic partnerships which are anticipated to boost the market for deodorant in the region.

Global Deodorant Market, by Region 2020 (%)

Market Players Outlook

The prominent players functioning in the global deodorant market include Adidas AG, Avon Products, Inc., Henkel AG & Co. KGaA, Lion Corp., Nike Inc., Revlon Inc., and LVMH among others. These key manufacturers are adopting various strategies such as new product launches and approvals, mergers and acquisitions, partnerships and collaborations, and many others in order to thrive in a competitive environment. 

The Report Covers

• Market value data analysis of 2020 and forecast to 2027.
• Annualized market revenues ($ million) for each market segment.
• Country-wise analysis of major geographical regions.
• Key companies operating in the global deodorant market. Based on the availability of data, information related to pipeline products, and relevant news is also available in the report.
• Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
• Analysis of market-entry and market expansion strategies.
• Competitive strategies by identifying ‘who-stands-where’ in the market.