Pune, India -- (SBWIRE) -- 09/28/2020 -- Fortune Business Insights™ in a recently published report, titled, "Deodorant Market Size, Share & Industry Analysis, By Product Type (Spray, Roll-On, Stick, and Others), By Packaging Material (Metal, Plastic, and Others), By End-User (Men and Women), and Regional Forecast, 2019-2026."

Deodorant Market Drivers and Restraint :

Increasing Consciousness Regarding Personal Grooming is Estimated to Drive the Market

Growth of the global economy along with an escalated number of dual-income families has resulted in the changes in lifestyle and improvement in the standard of living. These factors are therefore expected to support market growth. Furthermore, the increasing promotional campaigns of cosmetic and fragrance products through television, radio, print media, and social media is also playing a significant role in providing awareness of the benefits of products.

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List of Significant Manufacturers Deodorant Market are:

Unilever PLC
The Procter & Gamble Company
Beiersdorf AG
Henkel AG & Co KGaA
L'Oreal SA
Sky Organics
Speick Natural Cosmetics
Truly's Natural Products
Erbaviva
Spirit Nest
EO Products
Regional Analysis-

Presence of Biggest Cosmetics Brands to Propel Market in Europe

The market in Europe generated a revenue of USD 6.92 billion in 2018 and is predicted to grow rapidly during the forecast period owing to the strong presence of renowned brands such as L'Oréal, Beiersdorf, Avon, Unilever, and others in the region. Moreover, the growing inclination of people towards hygiene and personal care will augment healthy growth of the market in the foreseeable future. North America is likely to grow rapidly during the forecast period owing to the rising awareness regarding hygiene and sanitation. The surge in employment rate in the region will subsequently boost the market in North America. The rising consumption of more cosmetic products will augur well for the market. The growing popularity for fitness and sports will create lucrative business opportunities in the forthcoming years for the market in North America.

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Competitive Landscape:

Asia Pacific to Dominate Fueled by Rising Disposable Income of People

Geographically, the market is categorized into North America, Europe, South America, the Middle East and Africa, and Asia Pacific. Amongst these, Asia Pacific procured USD 24.67 billion refrigerator market revenue in 2018 and is likely to dominate because of the rising demand for infrastructure in this region. In addition to that, rising number of households, rapid urbanization, increasing disposable income, and inclination of people from conventional to smart appliances are set to surge the demand for refrigerators in this region.

Europe, on the other hand, is anticipated to grow at a fast pace owing to the emergence of technologically advanced refrigerators developed by industry giants present in this region. It would, in turn, attract more consumers. North America is likely to generate a significant share in the near future on account of the increasing disposable income of people residing in Canada and the U.S. Also, factors, namely, rising number of nuclear families and increasing urban population would contribute to market growth.

Some of the key industry developments in the Deodorant Market Include:

February 2019: Unilever announced the launch of mini spray deo for 4 brands and deodorant wipes for 5 of its brands. The brands include Dove, AXE, Dove Men+Care, and Degree Men and Women. The products are intended to be used for the deodorization of underarms, neck, and chest.

May 2019: Procter and Gamble proclaimed its acquisition of Native Deodorant, which is a San Francisco based company in 100 USD million.It is a direct-to-consumer natural deodorant brand. This acquisition is expected to expand Procter & Gamble’s product portfolio.

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