Innovations introduced in product lines of the players of the toothpaste market is projected to boost revenue growth over the assessment period. Products designed for addressing different issues such as sensitivity, bad breath, etc. are being unveiled by the market participants. Availability of a wide range of products to choose from is expected to have a favorable impact on the growth pattern of the toothpaste market across the review period. For instance, herbal toothpaste is a comparatively newer concept and has already gained traction of the global market.
The toothpaste market signifies attractive opportunities and is likely to witness an influx of new entrants in the foreseeable future. To illustrate, Kendall Jenner, a renowned model and TV celebrity, has announced the launch of a plant-based toothpaste. On the contrary, the use of ingredients such as triclosan and parabens are anticipated to check the expansion of the toothpaste market in the forthcoming years.
The growth of the oral care industry is projected to increase the consumption of toothpaste globally. According to Market Research Future (MRFR)’s study, the global toothpaste market is anticipated to strike a CAGR of 4.80% over the forecast period 2023 to 2032. Also, the report suggests that the toothpaste market size is expected to touch a valuation of USD 24.24 Billion by the end of the assessment period. Increasing oral care expenditure is prognosticated to catalyze the growth of the market over the next couple of years.
The rising burden of dental disorders such as caries, cavities, etc. are expected to motivate an upswing in consumption of toothpaste over the next few years, thus, supporting market growth. In addition, the shift towards oral hygiene is anticipated to expedite the growth rate of the toothpaste market in the years to come.
Market Segmentation:
By type, the global toothpaste market has been segmented into herbal, children’s, sensitivity, smoker’s, whitening, and others. The herbal segment is projected to exhibit a relatively higher CAGR of 5.48% over the assessment period.
Based on distribution channel, the toothpaste market has been bifurcated into store-based and non-store-based. The store-based segment is anticipated to generate higher revenue in the upcoming years. However, the non-store-based segment is projected to expand at a higher CAGR of 5.09% across the review period.
Competitive Dashboard:
The noted players participating in the global toothpaste market are:
Dabur India Ltd. (India), Unilever PLC (U.K.), 3M (U.S.), D.R. Harris Co Ltd. (U.K.), Hawley Hazel (BVI) Co Ltd. (Hong Kong), LG Household Health Care Ltd. (South Korea), GlaxoSmithKline plc (U.K.), The Himalaya Drug Company (India), Coswell SpA (Italy), CCA Industries, Inc. (U.S.), Procter Gamble (U.S.), Church Dwight Co., Inc. (U.S.), Colgate-Palmolive Company (U.S.), Johnson Johnson Services Inc. (U.S.), and Henkel AG Co. KGaA (Germany).
Regional Analysis:
On the basis of region, the global toothpaste market has been segmented into North America, Europe, Asia Pacific, South America, and the Middle East Africa (MEA). Asia Pacific held the maximum market share in 2017 and is projected to exhibit a CAGR of 5.25% through the forecast period. North America is anticipated to touch a valuation of USD 6,330.3 Mn by 2023-end. Europe is expected to benefit from the introduction of organic and herbal ingredients in the forthcoming years.
Industry News:
In May 2019, Livionex, a biotech company, has announced the launch of its improved oral care line called LIVFRESH.
In May 2019, an umbrella brand principally used for oral hygiene products, has introduced a new Total toothpaste claimed to revolutionize daily oral care.
In January 2019, Amway, an American multi-level marketing company, has forayed into the Indian herbal oral care market with the launch of ‘Glister Herbals Toothpaste.
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