BRICS Boom in Oral Care
While the global oral care market sees a steady increase, the BRICS nations (Brazil, Russia, India, China, and South Africa) are experiencing a surge in demand. These markets are expected to grow at a much faster pace, with a Compound Annual Growth Rate (CAGR) nearly double the global average.
Market Potential in BRICS
Research suggests the BRICS oral care market will reach a size of USD 17.3 billion by 2020, reflecting a significant rise in demand for oral care products.
Who Should Read This?
This information is valuable for various stakeholders in the oral care industry:
- Manufacturers and Sellers of Dental Products: Understand the growing market potential in BRICS countries.
- Research & Development Organizations: Identify opportunities for innovation in oral care products tailored to BRICS markets.
- Governmental Bodies: Gain insights to develop policies promoting oral health awareness and accessibility in BRICS nations.
- Dental Professionals: Stay informed about the growing demand for oral care services in BRICS.
- Venture Capitalist Investors: Identify potential investment opportunities in the booming BRICS oral care market.
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Global Oral Care Market
For comparison, the worldwide oral care market is also experiencing growth, with a projected CAGR of 4.5% from 2014 to 2020, reaching an estimated sales revenue of $50.8 billion by the end of the period.
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Several companies, including
- Uniliver Group
- Colgate-Palmolive Co.
- Koninklijke Philips N.V.
- Procter & Gamble Co.
- Johnson & Johnson Inc.
- and GlaxoSmithKline Plc.
hold a strong position and are anticipated to maintain it in the near future, according to a recent study by Future Market Insights (FMI).
However, the competition in the oral care market in BRICS countries is fierce. Most of these businesses employ typical strategies to draw in and keep customers, including the creation of novel items and vigorous marketing campaigns. Vendors now have more opportunities to wow urban inhabitants and create new revenue streams thanks to the rising demand of organic products.
The survey notes that customers are increasingly prepared to pay for a range of items that helps them maintain the health of their dental and respiratory systems as a result of increased disposable income among urban populations in BRICS countries, namely Brazil, Russia, India, China, and South Africa.
The ubiquity of cellphones and the rising popularity of social media have made it easier to spread awareness across vast populations, which is helping the BRICS oral care market gain pace. Additionally, there is a growing market for dental care products that are eco-friendly and contain organic components. Another factor driving demand in this market is consumers’ increasing awareness of the importance of oral hygiene.
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Toothpaste Most Profitable Product Segment
On the basis of product type, the oral care market in the BRICS countries is segmented into primary oral care including toothbrush and toothpaste and secondary oral care including dental floss, mouthwash, denture care, and others such as whitening strips, chewing gum, and mouth fresheners. Currently, primary oral care sub-segments collective account for the most prominent chunk of demand, with toothpaste producing the maximum demand.
Gel toothpaste, sensitivity-resistant toothpaste, and gum strengthening toothpaste are a few new products attracting specific customers. On the other hand, the demand for secondary oral care products is projected to increment at a strong CAGR of 14.5% during the forecast period of 2014 to 2020, gaining traction from the introduction of new products in this segment.
Based on distribution channel, the BRICS oral care market has been bifurcated into departmental stores, convenience stores, hypermarkets and supermarkets, vending machines, pharmacies and specialty stores, direct selling, and general merchandise retailers. In 2013, the general merchandising and direct selling segments collectively accounted for 53% of the overall demand, while hypermarkets and supermarkets provided for 27% of the demand.
Country-wise, heavily populated countries of India and China currently produce the most prominent chunk of demand and are anticipated to further gain demand share as we approach 2020. These two countries served 50.6% of total demand in the BRICS oral care market in 2014 and the demand percentage is estimated to increase up to 52.7% by 2020.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer, Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of ~400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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Website: https://www.futuremarketinsights.com
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