LONDON--(BUSINESS WIRE)--The global organic deodorant market is expected to post a CAGR of over 12% during the period 2019-2023, according to the latest market research report by Technavio.
A key factor driving the growth of the market is the rise in awareness about the harmful effects of synthetic deodorants. The global organic deodorant market is driven by various awareness campaigns undertaken by companies and industry associations for promoting the use of organic products. Also, the global organic soap market is driven by the growing awareness among end-consumers about the harmful effects of traditional deodorants and benefits associated with organic deodorants. The harmful ingredients used in synthetic deodorants include aluminum, parabens, propylene glycol, phthalates, and triclosan. Owing to the harmful effects of these chemicals, many people have started switching to organic deodorants, driving the expansion of the global market.
As per Technavio, the increase in the number of organic concept stores will have a positive impact on the market and contribute to its growth significantly over the forecast period. This global organic deodorant market 2019-2023 research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.
Global organic deodorant market: Increase in the number of organic concept stores
Easy availability of numerous organic brands under one roof is the primary reason for the increased popularity of organic concept stores compared to other retailers that carry only a limited product portfolio. This is why they form the dominant distribution channel for organic deodorants' sales, promoting the concept of all natural and organic BPC products among consumers. For example, Credo Beauty, in the US, opened six stores between 2017 and 2018. In October 2018, Credo Beauty's CEO announced that there will be a further increase in the company's stores during the forecast period. An increase in the launch of organic concept stores by key market competitors is expected to boost the growth of the market in focus during the forecast period.
“Along with the increase in number of organic concept stores, the increase in adoption of organic products and the availability of organic deodorants in a wide range of natural fragrances are some other major aspects that are expected to boost the growth of the overall global market, during the forecast period,” says a senior analyst at Technavio.
Global organic deodorant market: Segmentation analysis
This market research report segments the global organic deodorant market by product (stick, roll-on, spray, others) and geographical regions (Europe, North America, APAC, South America, and MEA).
The European region led the market in 2018, followed by North America, APAC, South America, and MEA respectively. However, during the forecast period, the APAC region is expected to register the highest incremental growth due to the influx of innovative products and a rising preference for chemical-free skincare products in the region.
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Some of the key topics covered in the report include:
Market Landscape
- Market ecosystem
- Market characteristics
- Market segmentation analysis
Market Sizing
- Market definition
- Market size and forecast
Five Forces Analysis
Market Segmentation
Geographical Segmentation
- Regional comparison
- Key leading countries
Market Drivers
Market Challenges
Market Trends
Vendor Landscape
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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