Toiletry Products Market Expected to Reach $543.1 Billion by 2035

According to a new report published by Allied Market Research, titled, “Toiletry Products Market," The toiletry products market size was valued at $262.5 billion in 2023, and is estimated to reach $543.1 billion by 2035, growing at a CAGR of 6.1% from 2024 to 2035.

Products for toiletries are necessary personal care items for grooming, cleanliness, and health maintenance. Among them are deodorants, toothpaste, shampoos, soaps, shaving creams, skincare products, and fragrances. Several individuals of all ages use these products, which are essential for daily tasks and provide comfort, cleanliness, and aroma while improving general well-being.

The toiletry products market growth is expanding significantly due to rising consumer awareness of cleanliness, the desire for natural and organic ingredients, and advancements in environmentally friendly packaging. Growing e-commerce distribution, the popularity of gender-neutral and personalized personal care products, and an emphasis on environmentally friendly formulas are some of the major toiletry products market trends. Growing disposable incomes are driving demand for toiletry products in emerging regions, especially in Asia-Pacific and Africa.

On the other hand, regulatory compliance for product safety, rise in rivalry among new and established firms, and shift in raw material costs are some of the challenges. Crucial challenges for industry participants also include regulating the environmental impact of packaging and production procedures and resolving consumer concerns about chemical substances. Ongoing innovation and sustainability initiatives are essential to overcome these obstacles.

The toiletry products market is analyzed on the basis of product type, price point, distribution channel, and region. By product type, the market is divided into hair care products, skincare products, oral care products, bath & shower products, deodorants & antiperspirants, and others. The skincare products segment occupied the major toiletry products market share in 2023 and is projected to maintain its dominance during the forecast period. The market for toiletry products' skincare category is growing rapidly due to consumers' growing interest in health and skincare practices. Demand for natural, organic, and anti-aging components as well as multipurpose products are important trends. Globally, e-commerce and customized skincare products are becoming more popular.

By price point, the toiletry products market report is classified into premium, medium, and economy. The medium segment is anticipated to grow at a moderate rate during the forecast period. In the market for toiletry products, the medium price range serves customers looking for a balance between cost and quality. Products in this price category typically include a variety of natural and conventional components, eco-friendly packaging, a wide selection of personal care solutions, and reliable brands with potent formulations.

By distribution channel, the toiletry products market is classified into supermarkets/hypermarkets, specialty stores, pharmacy & drug stores, online retail, and others. The specialty stores segment is anticipated to grow at a moderate rate during the forecast period. In the market for toiletry products, specialty stores are an important distribution channel since they provide individualized shopping experiences and a carefully chosen assortment of premium or niche-specific products. These stores attract customers due to their high-end brands and professional advice. Demand for specialty and organic toiletry products is rising, which is fueling this channel's expansion.

Region wise, Asia-Pacific dominated the global toiletry products market in 2023, and its dominance is anticipated to continue during the forecast period. The toiletry products market in Asia-Pacific is expanding rapidly due to factors such as urbanization, increased disposable incomes, and growth in emphasis on wellness and personal cleanliness. Natural and organic products are becoming more popular in the region. In addition, e-commerce has become a crucial  distribution channel in the Asia-Pacific region.

The major players analyzed for the global toiletry products industry are L'Oreal, Unilever, Procter & Gamble (P&G), The Estee Lauder Companies Inc., Johnson & Johnson, Kao Corporation, Shiseido, Avon Products, Inc., Beiersdorf AG, and Colgate-Palmolive Co. The company profile has been selected on the basis of key developments such as partnership, product launch, merger and acquisition.

KEY FINDINGS OF STUDY

• By product type, the skincare products segment was the highest revenue contributor to the market in 2023.
• As per price point, the premium segment is the fastest-growing segment in the global toiletry products market during the forecast period.
• By distribution channel, the supermarkets/hypermarkets segment was the highest revenue contributor to the market in 2023.
• Region-wise, Asia-Pacific was the highest revenue contributor in 2023 in the market.