Deodorant Stick Market is Expected to Expand US$ 2.09 Bn by 2027

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.

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.

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.

Press Release Source: 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

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