The oral care market has been witnessing remarkable growth in recent years and is expected to continue this trend over the next few years, with a projected growth from USD 47.2 billion in 2021 to USD 54.9 billion in 2026, at a CAGR of 3.1%. This growth can be attributed to various factors, such as an increase in the incidence of dental diseases, a rise in the number of practicing dentists globally, and technological advancements in oral care products.
However, the oral care market also faces several challenges, such as product recalls that have the potential to restrain the market’s growth, and the adverse effects of teeth whitening products that pose a significant challenge.
The market is highly consolidated, with major players such as Colgate-Palmolive Company, Procter Gamble, GlaxoSmithKline plc, Koninklijke Philips N.V., Johnson Johnson, and Unilever plc dominating the market. These players have adopted various strategies to enhance their presence in the oral care market, such as acquisitions, partnerships, agreements, collaborations, expansions, and product launches.
Colgate-Palmolive Company, for instance, is a global leader in the toothpastes and manual toothbrushes segments, providing oral care products under various brand names such as “Colgate” and “Darlie.” Procter Gamble mainly focuses on organic growth strategies such as product launches to maintain its presence in the oral care market.
Technological advancements have been one of the key drivers of the oral care market’s growth. Easy-to-use, technologically advanced oral care products, such as electric toothbrushes and vibrating toothbrushes, have been developed as a result of these advancements. Major players have also launched interactive toothbrushes equipped with AI technologies that provide real-time guidance for brushing and maintaining oral health.
Awareness of oral care has also been on the rise, thanks to dentists’ efforts and key players in the market. These stakeholders conduct various seminars and programs to increase awareness of dental hygiene and demonstrate newly launched and technologically advanced products.
In conclusion, the oral care market presents a lucrative opportunity for players in the market to enhance their presence through product innovation and strategic partnerships while also promoting oral hygiene awareness. The challenges faced by the market can be addressed through continued technological advancements and strict quality control measures.