Oral care in APAC: Key market research findings
- Product innovation and new launches drive market growth
- China is the major revenue generator in the market
- Key vendors – Colgate-Palmolive, GlaxoSmithKline, Johnson & Johnson, P&G, and Unilever
Technavio’s market research analysts predict the oral care market in APAC to grow at a CAGR of over 5% between 2016 and 2020. Product innovations and new launches are the fundamental drivers for growth in this market. Vendors in the APAC oral care market are diversifying their product lines to meet the ever-increasing needs and a large consumer base. These include toothpaste, toothbrushes, and mouthwashes differentiated on the basis of functionality, taste, and color. Also, the vendors are launching products that use natural ingredients to maintain a strong foothold in the competitive market. During 2015, China accounted for around 33% of the oral care market in APAC to become the dominant shareholder. Driven by the growing economy, the oral care market in China has high growth potential due to the increasing importance given to grooming and appearance and the country’s large population.
The new market research report from Technavio presents a breakdown and analysis of the oral care segments based on the product.
“Premiumization of oral care products is the latest trend in the oral care market in APAC. This trend is leading to the growth and creation of new segments such as toothpaste for sensitive teeth and mouthwashes. Rising urban population in countries like India and China is contributing to the growth of this market as it leads to better proximity to retail platforms like supermarkets, hypermarkets, and online retailers. For instance, Close-Up‘s Diamond Attraction is a premium whitening toothpaste that has a significant success in the market,” says Brijesh Kumar Choubey, Lead Analyst, Consumer & Retail, Technavio Research.
During 2015, the primary products segment accounted for around 73% of the market share to dominate the oral care market in APAC. The primary oral care segment consists of products such as toothpaste, toothbrushes, and replacement heads, with the toothpaste vertical being the major revenue generator. The penetration of these products is high as they are used everyday. Continuous product improvement and innovations in this segment are expected to boost growth in the primary oral care market in APAC by 2020.
The key vendors in the market include Colgate-Palmolive, GlaxoSmithKline, Johnson & Johnson, P&G, and Unilever. The oral care market in APAC is highly competitive owing to the presence of several small and large vendors accounting for a significant share of the market. The key vendors compete in terms of quality, pricing, and innovation. The competitive environment is expected to increase in due to the product extensions, new products, and new applications of the products and services provided.
A more detailed analysis is available in the Technavio report, Oral Care Market in APAC 2016-2020.
We can customize reports by other regions and specific segments upon request.
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