The global oral care market size is anticipated to reach USD 40.9 billion by 2025, according to a new report by Grand View Research, Inc., exhibiting a 5.0% CAGR during the forecast period. Growing awareness among people regarding oral hygiene and increasing incidence of dental caries has led to market growth.
Rising awareness about dental hygiene, in both developed as well as developing regions, can be attributed to various awareness programs initiated by major players. For instance, in 2015, Oral-B and Crest partnered with the Hispanic Dental Association to improve access to oral care education among Hispanics in U.S.
Growing incidence of dental caries is also accelerating product demand. Children in particular, are more prone to dental caries due to unhealthy food habits. On the other hand, geriatric population is more prone to a number of oral diseases, which further propels the market.
New product development is another significant factor influencing the market. Recent innovations, such as powered toothbrushes, have revolutionized the market. Availability of different dental accessories is also contributing to market growth.
Further Key findings from the study suggest:
- In 2017, the toothpaste segment dominated the market on the basis of product; it is, however, projected to lose market share by 2025
- The toothbrush segment is expected to show lucrative growth over the forecast period and emerge as the dominant segment by 2025. This can be attributed to availability of a wide range of innovative designs, such as electric and battery-powered toothbrushes
- The denture products segment is anticipated to witness significant growth over the forecast period thanks to high demand for related products such as adhesive creams and cleaners
- Asia Pacific held the largest market share in 2017 and is also expected to exhibit the fastest growth over the forecast period. This is due to rising awareness about oral health among people, especially in developing countries such as India
- Europe is the second largest market and is driven by rising geriatric population and high prevalence of tooth decay
- Some of the key players are Procter & Gamble Company; Johnson & Johnson Consumer, Inc.; Colgate-Palmolive; GlaxoSmithKline; Church & Dwight Co., Inc.; Dr. Fresh, LLC; Dentaid; Lion Corporation; and Sunstar Suisse S.A.