Leading market players are focused on sharpening profit margins through sales of products comprising natural ingredients.
DUBAI, UAE / ACCESSWIRE / February 18, 2020 / The global deodorant sticks market is projected to reach a valuation of US$ 2.09 Bn in 2027, and is set to grow at a positive CAGR during the forecast period (2019 - 2027). As indicated by a new study by Future Market Insights (FMI), the deodorant sticks market is receiving impetus from rising consumer interest in grooming products.
"Prominent players in the global deodorant stick market are seeking various natural and ecolabel certifications to have a competitive edge in the market," opines the Future Market Insights study.
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Key Research Findings of FMI's Deodorant Sticks Market Study
- Alcohol-free deodorant sticks are projected to grow at a higher CAGR on back of their longevity and sweat reduction properties.
- Manufacturers are focusing on vegan, alcohol-free, skin-friendly, formulations which are free from aluminum.
- Influential advertising for deodorant sticks with product information are projected to attract a larger consumer base.
- Europe to remain in vanguard with high demand for cosmetics and personal care products.
Key Growth Drivers
- Rising consumer interest in personal care and grooming products in urban areas of emerging economies will remain a major driver.
- Promotional strategies for better product visibility will spur sales.
- Adoption of natural and sustainable ingredients and packaging to heighten demand among millennials.
Key Impediments
- Concerns over use of synthetic ingredients in deodorant stick formulations will restrain market growth.
- Concerns over potential allergies and reactions at the time of application will remain key challenge for manufacturers.
Explore the full deodorant sticks market report with 44 illustrative figures, 48 data tables and table of contents. Also avail a detailed market segmentation on https://www.futuremarketinsights.com/askus/rep-gb-11044
Competition Structure Analysis - Deodorant Sticks Market
Competition landscape of global deodorant sticks market will primarily remain influenced by investments in new offerings. Manufacturers are also pushing for penetration in the luxury business segment to expand market footprint. Major players will be seen targeting natural and eco-friendly ingredients to acquire an edge over competition. The trend will also be supported by use of sustainable packaging formats in the foreseeable future.
Some of the key participants in global deodorant sticks market that are profiled in Future Market Insight's report, include, The Estee Lauder Companies Inc., Knowlton Development Corporation, Unilever PLC., The Body Shop International Ltd., L'Oréal S.A., Lion Corporation, Procter & Gamble, Mandom Corporation, and the Colgate-Palmolive Company among others.
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About the Report
The report offers global, regional, and country level analysis of the latest industry trends impacting the deodorant stick market. The study provides compelling insights on the deodorant sticks market on basis of product types (with alcohol and alcohol-free), by packaging material (glass, metal, and plastic), by sales channel (retail stores, traditional retailers, and online retailing), across 30 countries spanning seven key regions (North America, Latin America, Europe, APEJ Oceania, Japan, and Middle East and Africa).
About Future Market Insights (FMI)
Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in London, the global financial capital, and has delivery centres in the U.S. and India. FMI's latest market research reports and industry analysis help businesses navigate challenges and take critical decisions with confidence and clarity amidst breakneck competition.
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SOURCE: Future Market Insights
View source version on accesswire.com:
https://www.accesswire.com/576809/Sales-of-Deodorant-Sticks-to-Surpass-US-2-Bn-in-2027-Alcohol-free-Variants-to-Remain-Popular-on-Back-of-Consumer-Awareness-Says-Future-Market-Insights
