Oral Care Market Future Developments, Top Companies, Industry Size and Demands Research Report

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The global  oral care market  size is projected to reach USD 38.89 billion by the end of 2027. Increasing awareness regarding the importance of dental hygiene will lead to a wider product adoption. The oral care market was worth USD 30.91 billion in 2019 and will exhibit a CAGR of 3.1% during the forecast period, 2020-2027. Oral care products are widely used to maintain the hygiene as well as conduct a few procedures that are used to maintain oral hygiene. The changing consumer habits towards oral care have created a huge demand for these products across the world.

Top 5 Key Players Covered in the oral care market research report are Colgate Palmolive Co., Procter & Gamble Co, Henkel AG & Co. KG, Johnson & Johnson, GlaxoSmithKline Plc., Lion Corporation, Church & Dwight Co. Inc., Reckitt Benckiser Group Plc.

Increasing awareness regarding the importance of oral care and maintaining proper hygiene will create several growth opportunities for the companies operating in the market. The rising incidence of mouth cancer resulting from improper dental care has contributed to the growing awareness regarding its importance. Moreover, recent product innovations have also played a huge part in the growth of the market.

Decreasing Labor Availability to Affect Manufacturing Units in Oral Care Sector

The recent coronavirus outbreak has created a sense of panic across the world. The measures taken to curb the spread of the disease have had an adverse effect on several businesses across the world. The strict measures such as lockdowns and social distancing practices have urged people to stay indoors. As a result, there has been a massive shortage in labor and manual workforce. The Covid-19 pandemic has thus, affected several manufacturing units in the oral drugs in the past few years. Having said that, the e-commerce services have provided a platform for growth for a few sectors in the oral care industry.

Increasing Number of Company Mergers and Acquisitions will have a Huge Impact on Market Growth

The report encompasses several factors that have contributed to the growth of the overall market in recent years. Among all factors, the increasing number of company mergers and acquisitions has made the highest impact on the growth of the market. Accounting to the massive potential held by these products, several large scale companies are looking to acquire SMEs with the bid to establishing a stronghold in the market. In June 2019, Unilever announced that it has completed the acquisition of Fluocaril and Parogencyl oral care businesses in France and Spain respectively. This acquisition is consequential to the company’s plans of strengthening its global footprint.

Information Source-

https://www.fortunebusinessinsights.com/oral-care-market-103533

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