Deodorants Global Market Report 2024

The deodorants market size has grown strongly in recent years. It will grow from $25.75 billion in 2023 to $27.41 billion in 2024 at a compound annual growth rate (CAGR) of 6.4% The growth observed in the historic period can be credited to several key factors. These include shifting social norms, impactful advertising and marketing initiatives, the steady rise in disposable income levels, prevailing fashion and lifestyle trends emphasizing fitness, the ongoing process of urbanization, population growth, and heightened awareness surrounding health and wellness concerns.

The deodorants market size is expected to see strong growth in the next few years. It will grow to $35.45 billion in 2028 at a compound annual growth rate (CAGR) of 6.6%. The projected growth in the forecast period can be linked to several driving factors. These include the escalating demand for natural and sustainable formulations, heightened awareness regarding personal hygiene and wellness, ongoing innovations in packaging and application formats, a focus on gender-neutral and inclusive product ranges, and the expanding influence of e-commerce platforms on consumer buying habits. Key trends anticipated in the forecast period encompass the adoption of deodorants with antibacterial and antiperspirant properties, continuous technological advancements in formulation, the introduction of innovative packaging designs and convenient application formats, as well as a growing emphasis on gender-neutral and inclusive product offerings. Furthermore, there will likely be a broader array of scents and formulations tailored to diverse preferences and lifestyles, catering to evolving consumer needs and desires.

The escalating demand for personal grooming products is poised to drive the growth of the deodorants market in the foreseeable future. Personal grooming products, tailored to enhance personal appearance, hygiene, and overall well-being, are witnessing increased traction as consumers place greater emphasis on maintaining hygiene, improving their appearance, and prioritizing self-care in their daily routines. Deodorant, a pivotal component of personal grooming regimens, serves to manage body odor by curbing the proliferation of odor-causing bacteria while imparting a refreshing fragrance. For instance, in September 2023, as per data from the Bureau of Labor Statistics, a US-based principal fact-finding agency for the Federal Government, personal care products and services spending witnessed a notable 12.3% upswing in 2022, following a substantial 19.3% surge observed in 2021, underscoring the correlation between escalating demand for personal grooming products and the expansion of the deodorants market.

Prominent players in the deodorants market are channeling their efforts towards developing skin-friendly and breathable deodorant formulations, incorporating advanced antiperspirant technology to deliver enhanced sweat protection while prioritizing skin comfort and health. Antiperspirant technology encompasses scientific formulations and mechanisms employed in antiperspirant products to temporarily diminish or obstruct sweat production. For instance, in March 2022, Degree, a renowned US-based deodorant company, introduced its latest innovation, the Degree Advanced Antiperspirant, featuring groundbreaking 72-hour microtechnology for continuous sweat and odor control. Additionally, Degree unveiled the Degree Advanced Antiperspirant for Women and Men, both integrating breakthrough microtechnology for 72-hour sweat and odor defense. This innovative range, developed by Unilever, Degree's parent company, is clinically validated to establish a robust barrier against sweat compared to conventional antiperspirants, eliminating the necessity for frequent reapplication and boasting 16 new patents.

In December 2021, Harry’s Inc., a distinguished US-based personal care products manufacturing company, completed the acquisition of Lumē for an undisclosed sum. With this strategic acquisition, Harry’s Inc. aims to diversify into a comprehensive consumer packaged goods (CPG) company, expanding its presence across multiple product categories and building a robust portfolio of CPG brands. Lumē, a US-based direct-to-consumer deodorant brand, is renowned for its efficacy in controlling all-over body odor, aligning seamlessly with Harry’s Inc.'s vision for growth and expansion within the personal care segment.

Major companies operating in the deodorants market are L'Oreal SA, Christian Dior SE, The Procter & Gamble Company, Unilever PLC, Adidas AG, Henkel AG & Co KGaA, Colgate-Palmolive Company, The Estée Lauder Companies Inc., Kao Corporation, Church & Dwight Co Inc., Coty Inc., Burberry Limited, Calvin Klein Inc., Avon Products Inc., Giorgio Armani SpA, Lion Corporation, Revlon Inc., Godrej Consumer Products Limited, Beiersdorf AG, Benetton Group Srl, Cavinkare Private Limited, EO Products Inc., Each & Every, Erbaviva LLC, Spirit Nest LLC.

Europe was the largest region in the deodorants market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the deodorants market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the deodorants market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Deodorant is a personal care essential formulated to mask or neutralize body odor stemming from bacterial growth, typically applied to the underarms or other perspiration-prone areas of the body. Infused with fragrances and antimicrobial agents, deodorants offer long-lasting freshness and odor protection.

The primary deodorant products include sprays, roll-ons, creams, and other variants. Sprays are available in aerosol or pump formats for direct application onto the skin. Packaging materials commonly used include metal, plastic, and other materials. These products are widely distributed through channels such as supermarkets, hypermarkets, convenience stores, pharmacies, online retail platforms, and more, catering to a diverse range of end-users including men, women, and others.

The deodorants market research report is one of a series of new reports that provides deodorants market statistics, including deodorants industry global market size, regional shares, competitors with deodorants market share, detailed deodorants market segments, market trends, and opportunities, and any further data you may need to thrive in the deodorants industry. This deodorants market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The deodorants market consists of sales of antiperspirant deodorants, sensitive skin deodorants, clinical strength deodorants, and scented deodorants. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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