According to a report by Fortune Business Insights, the global toothpaste market size is projected to reach USD 21.99 billion by 2027, growing at a CAGR of 4.2% during the forecast period (2023-2027). The report suggests that factors such as the increasing demand for advanced oral care products, rising awareness of the importance of oral hygiene, and growing adoption of oral care products among the aging population are expected to drive the growth of the market in the coming years.
Fortune Business Insights™ lists out all the travel retail market companies that are presently striving to reduce the impact of Covid-19 pandemic on the market:
- Avon Products, Inc. (London, United Kingdom)
- Ludovico Martelli Spa (Florence, Italy)
- Church & Dwight Co., Inc. (New York, USA )
- GlaxoSmithKline PLC (Brentford, United Kingdom)
- Unilever PLC (London, United Kingdom)
- Amway International Inc. (Michigan, USA)
- Toms of Maine (Maine, USA)
- Lion Corporation (Tokyo, Japan)
- Colgate-Palmolive Company (New York, USA)
- The Procter & Gamble Company (Ohio, USA)
According to the report, the value of the market stood at USD 17.75 billion in 2019.
Market Opportunity
Increasing Importance of Oral Hygiene amid COVID-19 to Create New Opportunities
The outbreak of the COVID-19 pandemic has reiterated the importance of maintaining good hygienic practices, especially oral hygiene. A few studies published in various distinguished journals have provided empirical evidence of the significance of dental prophylaxis in mitigating the SARS-CoV-2 infection. For example, a study published in the British Dental Journal in April 2020 revealed that patients afflicted by the severe form of COVID-19 had associated inflammatory markers and bacteria in the mouth, providing strong evidence that poor dental health is a risk factor for COVID-19. Another study published in Expert Opinion on Biological Therapy noted that mucosal vaccines for the coronavirus, which have proven to be exceptionally effective for MERS, will necessitate good oral health. Toothpastes are essential in maintaining dental health and the toothpaste market growth is likely to get stoked amid the current pandemic as the seriousness of oral hygiene gets heightened among consumers.
Regional Insights
Rising Influence of Domestic Brands to Boost the Market in Asia Pacific
At USD 6.42 billion, Asia Pacific dominated the toothpaste market share in 2019 owing to the strong presence and rising influence of domestic brands such as Dabur in the region. Furthermore, consumers in the region are adopting novel teeth care products and dental powders and liquids on account of increasing incomes and rapid urbanization.
Europe is expected to emerge as a leading region in the market owing to the high consumption of coffee, which contains ingredients that can have adverse effects on oral hygiene. As a result, the demand for these pastes, especially vegan toothpastes, is on the rise in the continent. In North America, expensive dental care systems in the US is nudging people to take adequate care of their teeth, thus fueling the demand for this product in the region.
Rеаѕоnѕ to Get thіѕ Rероrt:
- A qualitative and quantitative market study based on segmentation that includes both economic and non-economic factors
- Data on market value for each section and sub-segment
- Indicates the region and market segment that is likely to expand the fastest and dominate the market.
- The consumption of the product/service in each region is highlighted, as are the factors affecting the market within each region.
- The competitive landscape includes the top players' market rankings, as well as new service/product launches, collaborations, company expansions, and acquisitions made by the companies profiled in the last few years.
Competitive Landscape
Strategic Acquisitions by Large Companies to Intensify Market Competition
Large players in this market are strategically acquiring smaller companies to deepen their hold on the market’s competitive landscape. These acquisitions are enabling key players to expand their portfolios and leverage the distribution channels of the acquired companies to broaden their customer base.
Browse Detailed Summary of Research Report:
https://www.fortunebusinessinsights.com/toothpaste-market-104484
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