
Published On: Dec 2022
Published On: Dec 2022
At 5.0% CAGR, the Asia Pacific Toothpaste Market is projected to be worth US$ 16,946.52 Million by 2028, says Business Market Insights
According to Business Market Insights’ research, the Asia Pacific toothpaste market was valued at US$ 12,061.58 million in 2021 and is expected to reach US$ 16,946.52 million by 2028, registering a CAGR of 5.0% from 2021 to 2028. Rising popularity of herbal products and dental issues in geriatric and pediatric Population are the critical factors attributed to the market expansion.
The demand for sustainably produced products has been increasing in recent years. Recent studies indicate heightened consumer awareness around the concept, which, in turn, is driving the demand for sustainably sourced and manufactured products. In addition to this, manufacturers are now also looking to locally source their ingredients to reduce emissions through transportation. Moreover, sustainable products and packaging have emerged as a top priority as consumers show more interest in their environmental footprint and overall food system. A 2020 Study from Shorr Packaging found that two-thirds of shoppers who have made changes in their purchasing behaviors during the pandemic are certainly paying more attention to packaging. Also, 58% of survey respondents reported being "likely" to select products that use reusable or recyclable packaging. This is particularly true among younger consumers. Furthermore, millennials are more likely to purchase sustainable products than other generations, while Gen Z is developing as a generation that is willing to spend more on products that meet their sustainability standards. By 2025, Unilever plans to shift its complete oral care portfolio, including Pepsodent, Signal, and Close Up, to new recyclable tubes. The move means about 12,000 tons of plastic will become recyclable, enough plastic to circle the Earth 11 times. According to recent research, there is an increasing demand for sustainable toothpaste. Over the last few years, there has been an eleven-fold upsurge in the number of monthly searches for sustainable oral care products, which is likely to create growth potential for the market. Also, the increased demand for toothpaste products, along with new product developments, is strongly complementing the market's growth.
On the contrary, harmful effects of ingredients in toothpaste hurdles the growth of Asia Pacific toothpaste market.
Our regional analysis states that the Rest of Asia Pacific captured 39.2% market share in 2021. It was assessed at US$ 4,728.14 million in 2021 and is likely to hit US$ 6,685.40 million by 2028, exhibiting a CAGR of 5.1% during the forecast period.
Key players dominating the Asia Pacific toothpaste market are 3M; Beverly Glen Laboratories, Inc; Colgate-Palmolive Company; GlaxoSmithKline plc.; Henkel AG & COMPANY, KGAA; Lion Corporation; Procter & Gamble; Sunstar Suisse S.A; The Himalaya Drug Company; and Unilever among others.
A few key developments by top market players are:
Contact Us
Phone: +16467917070
Email Id: sales@businessmarketinsights.com