Parent Market Analysis
The personal care industry broadly comprises bath and shower products, colour cosmetics, skin care, hair care, oral care, and others. In recent years, personal care products are finding profound use in day to day life of consumers. This is attributed to increased consumer awareness for ubiquitous personal care products, preference for effective cosmetic products, demand for environment friendly products and natural or organic based products. Oral hygiene being a critical factor for overall health owes significance among all personal care products.
Oral Care Market Overview
The BRICS oral care market is analysed on the basis of parameters such as product type, distribution channel and countries.Increasing awareness among consumers regarding oral hygiene is anticipated to drive demand for oral care products in the near future.
Market Value Forecast
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Globally, the oral care market is estimated to be US$ 39.1 Bn in 2014 and expected to reach at US$ 50.8 Bn by 2020, by registering a CAGR of 4.5% during 2014-2020. Whereas, the BRICS oral care market it is estimated to value at US$ 10.7 Bn in 2014 and expected to reach US$ 17.3 Bn by 2020, reflecting a CAGR of 8.4% during 2014-2020. Increasing visibility of oral care products is a major driver fuelling the growth of the market in BRICS region.
Product Type Analysis
The product type classification include primary oral care and secondary oral care products. The primary oral care segment further comprises toothpaste and toothbrush, of which, the toothpaste segment contributed a significant revenue share to the overall market in 2014. Secondary oral care products segment includes mouthwash, dental floss, denture care and others which constitutes chewing gum, whitening strips and mouth fresheners. Of the aforementioned secondary oral care products, the others segment is expected to record a CAGR of 14.5% during the forecast period.
Recent product launches such as whitening toothpaste, flavoured gel toothpaste and sensitive toothpaste are among few recent product offerings, which are expected to bolster the growth of toothpaste segment.
Distribution Channel Analysis
On the basis of distribution channel, the oral care market is segmented as convenience stores, department stores, vending machines, hypermarkets & supermarkets, speciality stores and pharmacies, general merchandise retailers, direct selling and others. In 2013, the top segments General Merchandise Retailers and direct selling collectively account for 53.0% of the total oral care market. Hypermarkets & Supermarkets coupled with department store segment accounts for 27% of the market, third largest contribution. This is due to major % share of unorganized retailing in BRICS.
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Geographically, the BRICS oral care market analysis focusses on Brazil, India, Russia, China and South Africa. The top two segments China and India collectively account for 50.6% of the total oral care market in 2014 and are expected to dominate the market, representing 52.7% of share by 2020. During the forecast period, India’s contribution to overall pie is expected to increase from 18.7% to 20.0%, registering a CAGR of 9.7% during the forecast period.
In addition, the % share contribution of South Africa and Russia is expected to increase gradually by 2020, representing a decrease of 30 BPS and 200 BPS respectively. In countries such as India, Brazil, and China demand for basic as well as secondary oral care products to attain better oral hygiene is contributing towards increased % share contribution by 2020. In Russia, the demand for secondary oral care products such as mouthwash, dental floss, and others is expected to increase significantly over the forecast period.
Improving living standards and rising GDP are expected to drive growth of the personal care market. On the other hand, increasing consumer awareness and organised retail is fuelling growth of the overall market in Asia Pacific, which is a potentially viable region for such products as compared to other regions. BRICS represents a potentially viable market for oral care products due to increasing consumer concerns for better oral hygiene.
Moreover, growing middle-class population coupled with increasing per capita income and consumer spending by the population in BRICS is expected to bolster growth of the oral care market, specifically in BRICS. Also, increased brand awareness for products addressing with specific dental-related issues such as sensitivity and whitening are expected to drive demand for oral care products in the near future.
Demand for value-added products by consumers is a keen area for companies to enter the consolidated oral care market. Furthermore, multi-product offerings in the oral care segment is expected to increase brand visibility and recognition in the existing as well as new or untapped markets worldwide. Thus, whitening toothpaste, mouth, sensitivity toothpaste and power toothbrush are a few key areas, which need new product offerings that cater to increasing premium class consumers in developing as well as some of the developed nations.
Competitive Players Outlook
The BRICS oral care market is dominated by international players such as Colgate-Palmolive Co., Uniliver Group, Procter & Gamble Co., Koninklijke Philips N.V., Johnson & Johnson Inc. and GlaxoSmithKline Plc. However, regional players such as Dabur and Amway owe a significant share to the overall BRICS oral care market.
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This post was originally published on Analytics News