MBA Aspirants are expected to know markets of established Brands. This helps them to understand industry for which they are dreaming to join in future. Today, you will read on Deodorant market in India
When we think about personal care products, the image of a woman comes into our minds immediately. However, in the deodorant segment in India, men have overtaken the women with a significant lead. In fact, of the Rs 1,400-crore deodorant market, the male segment contributes Rs 1,000 crores, pegging the male to female ratio at 70:30.
Greater usage of deodorants among Indians can be attributed to greater awareness of hygienic practices and affluence. Deodorants are used by both men and women in the middle and upper classes and with greater disposable income in these families, more and more people are able to afford personal care products that are not considered a necessity.
Hindustan Unilever is the market leader in deodorants, with 31.5% market share. Its flagship product, Axe, is highly sought after by both middle and upper classes. Other brands under Hindustan Unilever are Rexona and Dove, whose deodorants are popular in the Indian market too.
After Hindustan Lever, Marico Co Ltd. and McNroe Chemicals are the biggest industry players in the deodorant segment. Hindustan Unilever’s Axe is the leading product in this segment, garnering 25% of the market value, followed by Marico's Set Wet, with 10% market value, and McNroe Chemicals’ Wild Stone garnering 9% market value.
Deodorants come in various forms, including roll-ons, sticks, and sprays. There are a number of deodorants for males but there are very few deodorants for females. This is because deodorants and antiperspirants have recently been introduced to the Indian market.
For decades, the Indian market has been relying on perfumes to enhance the scent of the body. And as such, females in the country continue to use perfumes instead of deodorants and antiperspirants. Also, deodorants are used by those who are constantly outdoors, and this is dominated by males.
It is only in the last few decades that there has been an increase in the number of Indian women spending ample amount of time outdoors, which is why the deodorant market for females is still in the infant stage. Some of the deodorant brands that cater to the females are Nike, Fa, Dove, and Nivea.
Experts predict that the deodorant industry will grow in the next few years. In fact, the deodorant market is projected to grow at 25% CAGR (compound annual growth rate) over the next five years. As net household income increases and with more disposable income, there is ample scope for the growth of the deodorant market in India.
An increase in the usage of deodorants can also be attributed to the Indian climate, which is hot humid, especially between the months of March and September, forcing consumers to purchase antiperspirants and deodorants to keep their bodies fresh and cool.
Deodorants were introduced to the market to help people eliminate body odour. However, some of these products contain toxic chemicals, many of which are carcinogenic in nature, which can be harmful to one’s body.
Not many consumers are aware of the dangers of prolonged usage of deodorants; however, manufacturers are constantly experimenting with the ingredients in deodorants to ensure minimal risk to consumers.