The global toothpaste market size is projected to reach USD 21.99 billion by 2027, exhibiting a CAGR of 3.4% during the forecast period. Growing availability of vegan toothpastes will play an instrumental role in augmenting the potential of this market, observes Fortune Business Insights™ in its report, titled “Toothpaste Market Size, Share & Industry Analysis, By Type (Teeth Whitening, Herbal, Sensitive Teeth, and Others), End-User (Adults and Children), and Distribution Channel (Supermarket/Hypermarket, Convenient Stores, Pharmaceutical & Drug Stores, and Online), and Regional Forecast, 2020-2027”. The number of vegans is steadily expanding as awareness about animal cruelty in the consumer goods industry is spreading rapidly. To capitalize on these new dynamics, several toothpaste makers are developing and launching products specifically targeted towards vegans. For example, Australia-based Desert Essence developed the Tea Tree Oil & Neem Wintergreen toothpaste that contains extracts from the Neem tree, an evergreen tree native to India. These extracts make breath feel fresher, fight mouth bacteria, and whiten teeth, while the tea tree oil’s antiseptic properties prevent gingivitis. Most importantly, the product does not contain any animal ingredients and has not been lab-tested on animals. Similarly, JASON’s Sea Fresh comprises of silica, calcium carbonate, and bamboo powder to whiten teeth, while the sea salt and blue algae aid in strengthening the gums and teeth. This toothpaste also does not consist of any animal extracts or testing. The increasing uptake of vegan toothpastes is, therefore, opening new growth avenues for this market.
According to the report, the value of the market stood at USD 17.75 billion in 2019. The salient features of the report include:
- Granular research into the various drivers, trends, constraints, and opportunities shaping the market;
- Tangible analysis of each market segment;
- Intelligent insights into the regional developments influencing the market; and
- In-depth evaluation of the growth strategies adopted by the key market players.
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.
Browse In-depth Summary of This Research Insight@https://www.fortunebusinessinsights.com/toothpaste-market-104484
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 toothpaste 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 toothpastes, 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 toothpastes in the region.
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.
Industry Developments:
- January 2020: Colgate-Palmolive announced the takeover of one of fastest-growing oral care brands in the US, Hello Products. Hello’s products have gained immense popularity among younger populations across the US and the company boasts of a diversified portfolio that includes toothpastes for adults and kids and mouth rinses.
- January 2019: Amway India released the Glister Herbal toothpaste, foraying into the burgeoning Indian oral care market and competing with established players such as Dabur and Patanjali. The product has 11 ingredients such as clove and spearmint and also contains biodegradable beads of essential oils.
List of Key Companies Profiled in the Toothpaste Market Report:
- 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)
- Tom's of Maine (Maine, USA)
- Lion Corporation (Tokyo, Japan)
- Colgate-Palmolive Company (New York, USA)
- The Procter & Gamble Company (Ohio, USA)
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