The deodorant industry has been forecast to hit a value of US$15.78 billion by 2018, driven predominantly by product innovations, advancing male grooming, increasing demand for organic as well as natural spray products, and the growing importance of grooming among teenagers and young adults.
Deodorants are substances applied to the body to affect body odour caused by bacterial growth and the smell associated with bacterial breakdown of perspiration in armpits, feet and other areas of the body.
Antiperspirants are typically applied to the underarms, while deodorants may also be used on feet and other areas in the form of body sprays.
When it comes to the format of their deodorant, teens significantly favour scented products (93%) more than the 78% scented product usage among adults. Meanwhile, 77% of teens say they like a solid/stick and 76% prefer clear/invisible deodorants.
Loyalty is not king when it comes to deodorant users. Consumers experimented with other brands in the previous 12 months, but fewer than one in five actually switched brands completely.
Demand for deodorants in Europe as well as the US reported a moderate drop during 2009 due to the economic slowdown that forced consumers to cut down spending on certain avoidable products such as deodorants. Asia-Pacific is poised to demonstrate the fastest growth rate for deodorants with sales projected to grow at a compounded annual growth rate (CAGR) of 4.6% over the coming years.
Unilever currently holds more than 40% of the global deodorant market, and is aiming to expand its market leadership further. The company intends to grow sales of deodorants, which account for about 10% of the company's share value.
Unilever has been expanding its deodorant production capacity in emerging markets through large-scale investments in manufacturing facilities and other capital investments. Also, the company has maintained an aggressive stance in marketing and advertising.
Age is the main driver shaping consumer willingness to experiment. Younger users were significantly more likely to make the switch than their older counterparts, which reinforces that the young consumer group should be the core focus for marketers.
For more information on the deodorant industry, see the latest research: Deodorant Industry
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