Refillable Deodorants Market Analysis by Trends, Size, Share, Company Overview, Growth and Forecast by 2030
The global refillable deodorants market size was valued at USD 177.33 million in 2022. The market is projected to grow from USD 186.41 million in 2023 to USD 272.50 million by 2030, exhibiting a CAGR of 5.57% during the forecast period. The growing popularity of organic deodorants made of naturally-derived ingredients will propel market augmentation. Companies are investing in research and development activities to create new fragrances from natural ingredients and enhance product packaging, which will further escalate market progression. This information is provided by Fortune Business Insights, in its report titled, “Refillable Deodorants Market, 2023-2030.”
List of Key Players Mentioned in the Report:
- Unilever Plc (U.K.)
- The Procter & Gamble Company (U.S.)
- Grove Collaborative, Inc. (U.S.)
- Noniko (U.S.)
- Myro (U.S.)
- By Humankind, Inc. (U.S.)
- Fussy Ltd (U.K.)
- Proverb Skincare (U.K.)
- Helmm (U.S.)
- Asuvi (Australia)
Report Coverage:
The report makes inclusion of:
- Drivers, restraints, threats, and challenges affecting market trends
- List of key industry players
- Key developments undertaken by leading companies to boost profits
- Impact of COVID-19 on market valuation and growth
- Crucial insights into growth trends of each segment and region.
Drivers and Restraints:
Rising Preference for Naturally-Derived Products to Drive Market Escalation
The increasing awareness regarding organic products derived from natural ingredients has escalated consumer interest in plant derivatives, including essential oils in refillable deodorant industries. This growing awareness has encouraged leading deodorant companies to use natural fragrances as a highlight to sell their products. Moreover, leading players, such as Fussy, Humankind, Myro, and others, are investing funds in developing new products which will further propel the refillable deodorants market growth. For example, in July 2022, Fussy, a sustainable deodorant brand, introduced a new rosé-inspired scented deodorant infused with bitter orange, grapefruit, and strawberry.
Regional Insights:
Europe to Lead Owing to Expansion of Grooming Sector and Growing Number of Startups
Europe accounted for majority of the refillable deodorants market share in 2022 due to the growth of the grooming sector. Consumers are focusing a lot on their looks and body odor nowadays, which is boosting marketing expansion in the region. Furthermore, the rising number of startups and launch of innovative products by Unilever plc and Procter & Gamble Inc. will also attribute to market growth in this region.
The growth of the retail industry, rising popularity of westernized culture of shopping, and rising income level of consumers are the factors aiding market augmentation in Latin America and Asia Pacific.
Competitive Landscape:
Product Launches by Industry Leaders to Propel Market Expansion
Leading players of refillable deodorants are making tactical decisions such as partnerships, mergers and acquisitions, and product launches to enhance geographical reach, maximize profits, and improve product portfolio. For instance, in February 2021, the Procter & Gamble Company announced the launch of its new refillable deodorants under its brands Secret and Old Spice. The new launch is due to the company’s focus on increasing the portfolio of sustainable and biodegradable products.
Key Industry Development:
- April 2021: Dove, a subsidiary of Unilever plc, unveiled its first-ever refillable deodorant to decrease plastic wastage. The company collaborated with Plastic Planet and VanBerlo to design palm-sized, white, refillable stainless-steel cases with white outer packaging made from 100% Forest Stewardship Council-grade paper.
Browse Summary of This Research Report:
https://www.fortunebusinessinsights.com/refillable-deodorants-market-107492
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