The oral care market is expected to see a significant increase in value 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%. The growth of this market can be attributed to various factors, such as the rising incidence of dental diseases, an increasing number of practicing dentists globally, and technological advancements in oral care products.
However, the oral care market also faces some challenges. For instance, product recalls have the potential to restrain the growth of the market, while the adverse effects of teeth whitening products 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 such as acquisitions, partnerships, agreements, collaborations, expansions, and product launches to enhance their presence in the oral care market.
Colgate-Palmolive Company, for instance, is the global market leader in the toothpastes and manual toothbrushes segments, providing oral care products under various brand names such as “Colgate” and “Darlie.” Procter Gamble, on the other hand, mainly focuses on organic growth strategies such as product launches to maintain its presence in the oral care market.
One of the key drivers of the oral care market’s growth is technological advancements in oral care products. These advancements have enabled the development of easy-to-use, technologically advanced oral care products, such as electric toothbrushes and vibrating toothbrushes. Major players have also launched interactive toothbrushes equipped with AI technologies that provide real-time guidance for brushing and maintaining oral health.
The rise in awareness of oral care can be attributed to dentists’ efforts and key players in the market. These stakeholders conduct various seminars and programmes to increase awareness of dental hygiene and demonstrate newly launched and technologically advanced products.
Overall, 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.