Oral Care Products Industry Development - Opportunity & Challenge
Market growth influenced due to following factors-
- Rising awareness about oral hygiene.
- Technological advancements in oral care products are expected to drive the growth of the Oral Care Products Market.
- Growing incidence of dental diseases.
Global market size-
According to the new market research report the Oral Care Market is projected to reach $53.3 billion by 2025 from USD 45.8 billion in 2020, at a CAGR of 3.1%.
Leading Players -
The key players operating in the Oral Care Market include Colgate-Palmolive Company (US), The Procter & Gamble Company (US), Johnson & Johnson (US), GC Corporation (Japan), 3M Company (US), GlaxoSmithKline PLC (UK), Unilever PLC (UK), Koninklijke Philips N.V. (Netherlands), Lion Corporation (Japan), Church & Dwight Co., Inc. (US), Sunstar Suisse S.A. (Switzerland).
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Opportunity & Challenge -
Opportunity: Increasing online purchase of Oral Care ProductsThere has been a noticeable shift in the retailing of oral care products across the world in recent years. Online retailers are slowly being chosen over traditional distributors, retailers, and pharmacies. Buying oral care products through e-commerce portals offers several advantages, such as the ease of purchasing, accessibility of multi-brand oral care products at comparatively lower prices and free shipping. The effective sales of oral care products through e-commerce have encouraged increasing investment towards these channels by major market players.
Challenge: High Dependency on Retail Stores Prominent players in the oral care market are highly reliant on on retail stores as they are the direct customers for manufacturers. Large stores & supermarkets such as Target, the constant trend of consolidation among retailers could thus generate a cost and margin pressure on manufacturers; Wal-Mart and Costco have high bargaining strength. Also, the high bargaining power of buyers may destructively impact the business of manufacturers.