Emerging Trends and Market Outlook of the Global Oral Care Industry

2023-05-22 09:32:38 UTC | Business, Economy, Finances, Banking & Insurance
Emerging Trends and Market Outlook of the Global Oral Care Industry

The global oral care market, as projected by MarketsandMarkets™, is expected to reach USD 54.9 billion by 2026, with a CAGR of 3.1% during the forecast period. Key drivers for market growth include the increasing prevalence of dental diseases, a rise in the number of dentists worldwide, and advancements in oral care technology. However, product recalls and adverse effects of teeth whitening products pose challenges to market expansion.

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Toothpaste is the dominant product segment, accounting for 51.3% of the market share in 2020, driven by its widespread adoption for oral hygiene maintenance and growing awareness of its efficacy in preventing dental caries. The toothbrushes & accessories segment is projected to grow at the highest CAGR of 3.8% due to increased adoption, accessibility, rising dental hygiene awareness, and promotion of teeth whitening and sensitivity reduction.

Consumer stores currently hold the largest market share (61.7%) among distribution channels, while online distribution is expected to grow at the highest CAGR of 9.5% during the forecast period. This growth is fueled by the increasing number of internet users, cost advantages, free delivery, availability of multiple oral care brands, and the convenience of product comparison and purchasing.

Geographically, the Asia Pacific region dominated the oral care market in 2020, accounting for 31.6% of the market share. Factors driving growth in this region include increased awareness of oral care products, rising disposable income, an aging population in certain countries, and investments in dental healthcare. The Asia Pacific market is projected to exhibit the highest CAGR during the forecast period.

In recent years, product innovation has enabled the development of technologically advanced and easy-to-use oral care products, such as electric, artificial intelligence-equipped (AI), and vibrating toothbrushes. Major players have also launched interactive toothbrushes equipped with position detection and motion sensor technologies. These toothbrushes screen the oral cavity to provide real-time guidance for brushing and maintaining oral health. Electronic toothbrushes have witnessed growing adoption across both developed and developing countries, such as Brazil, Italy, the US, France, and Japan.

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Key players in the global oral care market include Colgate-Palmolive Company, Procter & Gamble, GlaxoSmithKline plc, Unilever plc, and Koninklijke Philips N.V.

Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441