(PharmaNewsWire.Com, February 06, 2021 ) According to the new market research report the Oral Care Market is projected to reach USD 53.3 billion by 2025 from USD 45.8 billion in 2020, at a CAGR of 3.1%.
The Factors such as the rising awareness about oral hygiene, growing incidence of dental diseases, and technological advancements in oral care products are expected to drive the growth of the Oral Care Market. Increasing the online purchase of oral care products is expected to create new growth opportunities for players operating in this market.
Opportunity: Increasing online purchase of Oral Care Products
There has been a noticeable shift in the retailing of oral care products across the world in recent years. Online retailers are slowly being chosen over traditional distributors, retailers, and pharmacies. Buying oral care products through e-commerce portals offers several advantages, such as the accessibility of multi-brand oral care products at comparatively lower prices, ease of purchasing, and free shipping. The effective sales of oral care products through e-commerce have encouraged increasing investment towards these channels by major market players.
Challenge: High Dependency on Retail/Consumer Stores
Prominent players in the oral care market are highly reliant on on retail stores as they are the direct customers for manufacturers. Large stores & supermarkets such as Target, Wal-Mart and Costco have high bargaining strength; the constant trend of consolidation among retailers could thus generate a cost and margin pressure on manufacturers. Also, the high bargaining power of buyers may destructively impact the business of manufacturers.
• In April 2020, GlaxoSmithKline Consumer Healthcare Limited (India) merged with Hindustan Unilever Limited (HUL), with HUL responsible for the distribution of GSK’s Consumer Healthcare brands in India, including its leading oral healthcare brand, Sensodyne.
• In April 2020, Perrigo Company plc (Ireland) completed the acquisition of the oral care assets of High Ridge Brands (US), which includes Dr. Fresh, LLC.
• In January 2020, Perrigo Company plc’s Ranir subsidiary acquired the assets of Steripod, a leading toothbrush accessory brand, and innovator in the toothbrush protector market, from Bonfit America Inc (US).
• In December 2019, Colgate-Palmolive Company launched Colgate Optic White Renewal Tooth Paste.
In 2019, the Asia Pacific was estimated to account for the largest share of the Oral Care Market, followed by Europe. The dominant share of the Asia Pacific is attributed mainly to the rising geriatric population, growing prevalence of dental diseases, increasing focus of prominent players on emerging Asian countries, increasing healthcare expenditure (coupled with the increasing disposable income), raising awareness on oral healthcare, and the willingness to spend more on dental care. Other factors, such as the growing number of dental professionals, along with the increasing number of dental visits, will further support the growth of the Oral Care Market in this regional segment during the forecast period.
The key players operating in the Oral Care Market include Colgate-Palmolive Company (US), The Procter & Gamble Company (US), GlaxoSmithKline PLC (UK), Unilever PLC (UK), Koninklijke Philips N.V. (Netherlands), Johnson & Johnson (US), GC Corporation (Japan), 3M Company (US), Lion Corporation (Japan), Church & Dwight Co., Inc. (US), Sunstar Suisse S.A. (Switzerland).
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