Oral Care Market Remains Afloat amid COVID-19 Pandemic, to Surge Positively, Projects FMI 2022 2031

 

According to the FMI analysis, the worldwide oral care industry will grow at a CAGR of 4.5 percent from 2014 to 2020, generating US$50.8 billion in revenue. The BRICS oral care market, on the other hand, is in considerably better shape, with demand expected to grow at a nearly double CAGR of US$8.4 percent over the same forecast period. According to the survey, the BRICS countries would have a demand for dental care goods of $17.3 billion by 2020. Dental product manufacturers and distributors, dental research and development institutes, government associations and dental practitioners, as well as venture capitalists and investors, are among the target audiences for this report.

The report observes that with increased disposable income of the urban populations in BRICS countries, viz. Brazil, Russia, India, China, and South Africa, consumers are now willing to pay for a variety of products that helps them keep their oral and respiratory systems healthy. Ubiquity of smartphones and growing popularity of social media has helped pass on the awareness to large masses and is providing traction to the BRICS oral care market. In addition to that, introduction of oral care products that are ecofriendly and made up from organic ingredients are gaining demand. Growing awareness among consumers for oral hygiene is another factors fueling the demand in this market.

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.

Based on distribution channel, the BRICS oral care market has been bifurcated into departmental stores, convenience stores, hypermarkets and supermarkets, vending machines, pharmacies and specialty stores, direct selling, and general merchandise retailers. In 2013, the general merchandising and direct selling segments collectively accounted for 53% of the overall demand, while hypermarkets and supermarkets provided for 27% of the demand.

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.

Information Source:
https://www.futuremarketinsights.com/reports/oral-care-market

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