The personal care industry broadly comprises bath and shower products, colour cosmetics, skincare, hair care, oral care, and others. In recent years, personal care products are finding profound use in day to day life of consumers.
The BRICS oral care market size, on the other hand, is in a considerably better situation, with demand expected to grow at a nearly double CAGR of US$ 8.4% during the same forecast period. According to the research, the BRICS countries would have an oral care product demand of $17.3 billion by 2020.
The target audience for this report includes companies that produce and distribute dental products, dental research and development organisations, governmental organisations, dental professionals, and venture capitalists and investors.
According to the forecasts in the FMI report, the demand for oral care products worldwide will increase at a CAGR of 4.5 percent from 2014 to 2020, generating US$50.8 billion in revenue.
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Several companies, including Uniliver Group, Colgate-Palmolive Co., Koninklijke Philips N.V., Procter & Gamble Co., Johnson & Johnson Inc., and GlaxoSmithKline Plc., hold a strong position and are anticipated to maintain it in the near future, according to a recent study by Future Market Insights (FMI).
However, the competition in the oral care market in BRICS countries is fierce. Most of these businesses employ typical strategies to draw in and keep customers, including the creation of novel items and vigorous marketing campaigns. Vendors now have more opportunities to wow urban inhabitants and create new revenue streams thanks to the rising demand of organic products.
The survey notes that customers are increasingly prepared to pay for a range of items that helps them maintain the health of their dental and respiratory systems as a result of increased disposable income among urban populations in BRICS countries, namely Brazil, Russia, India, China, and South Africa.
The ubiquity of cellphones and the rising popularity of social media have made it easier to spread awareness across vast populations, which is helping the BRICS oral health market gain pace. Additionally, there is a growing market for dental care products that are eco-friendly and contain organic components. Another factor driving demand in this market is consumers’ increasing awareness of the importance of oral hygiene.
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Toothpaste Most Profitable Product Segment
On the basis of product type, the oral care market in the BRICS countries is segmented into primary oral care including toothbrush and toothpaste and secondary oral care including dental floss, mouthwash, denture care, and others such as whitening strips, chewing gum, and mouth fresheners. Currently, primary oral care sub-segments collective account for the most prominent chunk of demand, with toothpaste producing the maximum demand.
Gel toothpaste, sensitivity-resistant toothpaste, and gum strengthening toothpaste are a few new products attracting specific customers. On the other hand, the demand for secondary oral care products is projected to increment at a strong CAGR of 14.5% during the forecast period of 2014 to 2020, gaining traction from the introduction of new products in this segment.
Country-wise, heavily populated countries of India and China currently produce the most prominent chunk of demand and are anticipated to further gain demand share as we approach 2020. These two countries served 50.6% of total demand in the BRICS oral care market in 2014 and the demand percentage is estimated to increase up to 52.7% by 2020.
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Key Segmenton the basis of product type
on the basis of product type
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About Future Market Insights, Inc. Future Market Insights, Inc. is an ESOMAR-certified business consulting & market research firm, a member of the Greater New York Chamber of Commerce and is headquartered in Delaware
Apr 11, 2023
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