Oral Care Market Size to Increase by USD 11,147.45 Million by 2027
Key Highlights :
The oral care market is estimated to grow at a CAGR of 4.75% between 2022 and 2027, with the market size forecast to increase by USD 11,147.45 million. The market is fragmented due to the presence of diversified international and regional vendors. The increase in the adoption of advanced technology in oral care products is a key factor driving the market growth. The vendors operating in the market are focusing on increasing technological innovation and expanding product lines. For instance, the toothbrush industry has recently developed intelligent connectivity of electric toothbrushes. Additionally, this intelligent connection has features that warn the user of excessive brushing and suggests that the brushing routine should be of two-minutes.
The need for new and creative products is increasing due to spending on high-tech products and rising living standards. Hence, these factors will have a positive impact on the sales of oral care products and surge the growth of the market during the forecast period.
The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. Competitors must focus on differentiating their product offerings with unique value propositions to strengthen their foothold in the market. Market vendors also must leverage the existing growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The market share growth in the offline retail segment is expected to be significant during the forecast period. Hypermarkets, supermarkets, convenience shops, clubhouse stores, specialty stores, department stores, and drugstores are examples of offline retailers. Dental care goods such as dental floss, mouthwash, and toothpaste are widely available in supermarkets. They also provide several related products, such as dental kits, tongue cleaners, teeth whitening kits, and so on. The capacity to give consumers a one-stop shopping experience is the primary benefit of hypermarkets in the dental care sector. Hence, all other types of offline channels have the same type of advantages as supermarkets which drives the growth of this segment during the forecast period.
The Asia Pacific region is estimated to contribute to the growth of the global oral care market during the forecast period. The region's market is being driven by the increased use of original oral care products, an increase in the number of oral care operations, and an increase in the number of oral care professionals and dental facilities. Many nations in the region, including India, China, and Japan, pay for all dental care. This will increase demand for dental diagnostic and surgical equipment while also improving access to excellent dental treatments. Rising medical costs are also boosting the regional market. The market share is expected to increase by 1.3% from 2020 to 2025, and the market's growth momentum will accelerate at a CAGR of 2.59%.
The baby oral care market is estimated to grow at a CAGR of 11.52% between 2022 and 2027. The size of the market is forecast to increase by USD 1,527.2 million. This report extensively covers end-user (dental clinics, hospitals, and others), type (powder-free and powder-based), and geography (North America, Europe, Asia Pacific, and the Rest of the World (ROW)).
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