The unexpected shifts in the global markets because of the sudden outbreak of the COVID-19 virus have brought many major and minor tremors to industries of all sizes including the Additives Market for Deodorants & Antiperspirants Application Market.
It was estimated prior to this unanticipated outbreak that the Additives Market for Deodorants & Antiperspirants Application Market was expected to grow at a CAGR of 5.0% during the forecast period. However, the gradual slowing down of industries will undoubtedly impose limits on the previously estimated growth rate.
Additives market for deodorants and antiperspirants is basically categorized into two types of products i.e. deo actives and antiperspirant products. The commercial antiperspirants consist of aluminum chlorohydrate and aluminum sesquichlorohydrate as the active ingredients and on the other hand, deo actives are based on alcohol, consisting of antimicrobial agents including Farnesol, Sodium Bicarbonate, Ethylhexylglycerin, Triclosan, and Triethyl Citrate for minimizing the growth of bacteria.
This report studies the market covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision making and growth strategy formulation based on the opportunities present in the market.
Based on the product type, the market is segmented as deo actives and antiperspirants. Deo actives are estimated to witness a stronger growth rate in the market and are being used in deodorants for applying on body to cover or remove the foul odor of body. Factors such as the global demand for deodorants among consumers being increasingly reinforced because of the change in lifestyles and growing focus on personal hygiene, increase in tendency of people for pleasant body odor through the whole day, need for attaining protection against perspiration resultant of unpleasant odor of body, are expected to fuel the demand for deodorants in the market during the forecast period.
On the other hand, antiperspirants applications contain aluminum focusing to improve and make skin-friendly products. The combination of phosphate compounds and aluminum chlorohydrate is used to reduce the amount of aluminum compounds used, enhance the effect of antiperspirants, and give rise to the compatibility of skin, which in turn, is eventually boosting the demand for aluminum-based antiperspirants during the forecast period.
In terms of regions, Asia-Pacific is estimated to register high growth rate with the increase in demand for deodorants in the market during the forecast period. The regional growth is attributed to the trends of changing lifestyles and a better emphasis on hygiene along with increase in the availability of product, and the hot and humid seasonal climatic condition. Furthermore, the increased usage of non-aerosol deodorants and demographic factors, convenient pack size and changing use of deodorants among the customers, and the growing expenses on advertisements and promotions by the major players of the market are also expected to fuel the demand for the product in the regional market during the forecast period. North America and Europe are also expected to offer substantial growth opportunities during the forecast period.
Some of the key players in the global additives market for deodorants & antiperspirants application market are-