Asia Pacific Toothpaste Market is expected to reach US$ 16,946.52 million by 2028
Report : Asia Pacific Toothpaste Market Forecast to 2028 – COVID-19 Impact and Regional Analysis – by Type [Sensitivity, Whitening (Anti-Cavity and Others), Herbal/ Natural, Smokers, and Medicated], End User (Adults and Kids), Base Type (Gel-Based and Non-Gel-Based), and Distribution Channel (Supermarkets and Hypermarkets, Convenience Stores, Online Retail, and Drug Stores/ Pharmacies)
At 5.0% CAGR, the Asia Pacific Toothpaste Market is speculated 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.
Based on type, the Asia Pacific toothpaste market is segmented into sensitivity, whitening, herbal/natural, smokers, and medicated. The whitening segment held 52.3% market share in 2021, amassing US$ 6,566.20 million. It is projected to garner US$ 8,672.05 million by 2028 to expand at 4.7% CAGR during 2021–2028.
Based on end user, the Asia Pacific toothpaste market is bifurcated into adults and kids. Adults segment registered the largest market share in 2021. The adults segment held 87.7% market share in 2021, amassing US$ 10,575.86 million. It is projected to garner US$ 14,785.23 million by 2028 to expand at 4.9% CAGR during 2021–2028.
Based on base type, the Asia Pacific toothpaste market is bifurcated into gel-based and non-gel-based. The non-gel based segment held the largest market share in 2021 with 77.1%. It accrued US$ 9,295.41 million in 2021 and is estimated to generate US$ 12,981.97million by 2028 to grow at a CAGR of 4.9% over the forecast period.
Based on distribution channel, the Asia Pacific toothpaste market is segmented into supermarkets and hypermarkets, convenience stores, online retail, and drug stores/pharmacies. With 36.5% share of the domain, the supermarkets and hypermarkets segment dominated the market in 2021. It accrued US$ 6,027.33 million in 2021 and is estimated to generate US$ 8,494.07 million by 2028 to grow at a CAGR of 5.0% over the forecast period.
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:
In March 2021, Colgate Palmolive Co., a toothpaste manufacturer launched Visible White O2, an active oxygen technology-based innovative teeth whitening toothpaste in an Indian market
In March 2021, Colgate is producing recyclable tubes for its Colgate Active Salt and Colgate Vedshakti toothpaste portfolios in collaboration with EPL Limited (Formerly known as Essel Propack Limited).
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