(PharmaNewsWire.Com, October 09, 2018 ) According to the new market research report "Oral Care Market by Product (Toothbrush (Manual, Electric, Battery-Powered), Toothpaste, Mouthwash, Dental Floss, Teeth Whitening, Breath Freshener, Fixative), Distribution Channel (Consumer Store, Drug Store, Online) - Global Forecast to 2022", published by MarketsandMarkets™, The oral care/oral hygiene market is expected to reach USD 53.97 Billion by 2022 from an estimated USD 43.31 Billion in 2017, at a CAGR of 4.5%.
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The market is consolidated in nature with the presence of many local, regional, and global players. Colgate-Palmolive Company (U.S.), The Procter & Gamble Company (U.S.), and Unilever plc (U.K.) were the major players in this market. The companies are mainly focusing on product launches, agreements, and expansions to strengthen their product offerings and establish a strong geographical foothold.
The growth of the market is mainly driven by growing awareness regarding oral hygiene, rising incidence of dental caries and other periodontal diseases, and technological advancements in oral care products.
On the basis of product, the toothpaste segment accounted for the largest share of the global Oral Care Market in 2016. This is primarily attributed to the huge adoption of toothpaste to maintain good oral hygiene, avoid dental diseases, and for post-surgical procedures. The toothbrushes and accessories segment held the second largest share and is expected to grow at the highest CAGR during the forecast period.
Based on distribution channel, consumer stores accounted for the largest share of the Oral Care Market owing to the high dependence of manufacturers on retail stores as they serve as immediate distributors of products to customers.
Europe accounted for the largest share of the Oral Care Market in 2016, followed by Asia-Pacific. Factors such as large patient population, increasing incidence of dental caries and other periodontal diseases, growing adoption of technologically advanced oral care products, and increasing awareness about oral hygiene are contributing to the large share of Europe in the market.
Colgate-Palmolive Company (U.S.) dominated the global Oral Care Market in 2016. The company significantly focuses on product innovation, product enhancement, and product launches; it invested USD 289 million for R&D activities in 2016. The company launched two new products, Colgate Optic White Toothbrush + Whitening Pen (the toothbrush with a built-in whitening pen) and Pain Out (a tooth pain relief product) in 2014 and 2016, respectively.
The Procter & Gamble Company (U.S.) held the second position in the global Oral Care Market in 2016. P&G focuses on product launches as its major growth strategy. Since 2014, the company has launched various innovative oral care products such as Crest Sensi-Stop Strips, Crest Pro-Health [HD], Crest + Oral-B Pro- Health JR toothpaste and toothbrushes, and Oral-B GENIUS. Continuous innovation in oral care products will help the company enhance its position in the dental industry.
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