Global Toothpaste Market to Reach $17.6 Billion by 2024

Oral care is an essential and an extremely important aspect of personal hygiene for consumers across the world. Given the significance of teeth for crushing, chewing, grinding food, there is increased emphasis on oral hygiene to maintain the health of teeth as well as mouth. The increased focus on oral care is also being driven by the consumer desire to prevent common and preventable oral problems such as tooth loss, and dental cavities. A wide variety of oral care products are currently available to ensure hygiene of mouth and teeth including toothbrush, toothpaste and mouthwash, among others. Amid the COVID-19 crisis, the global market for Toothpaste is projected to reach US$17.6 Billion by 2024, registering a compounded annual growth rate (CAGR) of 4.4% over the analysis period. Europe represents the largest regional market for Toothpaste, accounting for an estimated 37.7% share of the global total. The market is projected to reach US$6.7 Billion by the close of the analysis period. China is expected to spearhead growth and emerge as the fastest growing regional market with a CAGR of 6.7% over the analysis period.

The market continues to be propelled by the rising awareness about oral hygiene, rising dental needs of an aging population and the advent of technologically advanced products. The market benefits from manufacturer efforts aimed at developing and launching new and advanced products, owing to changing consumer preferences. For example, in the recent years, the oral care market has been influencing by the growing popularity of whitening toothpaste, rising demand for automated toothbrushes, and the increasing use of online portals by customers for purchasing oral care products. Oral care products market is also witnessing manufacturers resorting to region-specific product launches, to meet the localized or regional customer needs. Most of the growth in the oral care market will emerge from the rapidly growing developing economies of Asia-Pacific, Middle East and Latin America. Expanding population, growing middle class population and rising disposable incomes of people are contributing to the increased demand for oral care products in the emerging markets. Despite the stable growth forecast for the oral care market, there are potential impediments to growth in the form of lack of awareness about advanced dental products, rising cost of oral care products, and intensifying competition in the market.

The market for Multi-benefit toothpastes is forecast to grow the fastest over the analysis period. Multifunctional toothpastes are popular and innovations drive growth in the mature market. Oral care segment being a mature market offers opportunities to the dealers and retailers by providing multi-functional toothpastes to the consumers. For instance, companies are launching toothpaste that not only provide whitening effect but also fights against plaque, stains, bad breath, sensitivity, cavities, tartar and gingivitis. Continuous rise in population and growing awareness about oral hygiene are playing a major role in driving the market. Companies are mainly focused on the young brigade by introducing toothpastes that appeal to teen consumers.