Continuous innovation in oral care products – How the oral care market will grow in future?

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The industry is consolidated in nature with the presence of many local, regional, and global players. Colgate-Palmolive Company (U.S.), The Procter & Gamble Company (U.S.), and Unilever plc (U.K.) were the major players in this market. The companies are mainly focusing on product launches, agreements, and expansions to strengthen their product offerings and establish a strong geographical foothold.
According to recent research report the global oral care market is projected to reach USD 53.97 billion by 2022 from USD 43.31 billion in 2017, at a CAGR of 4.5%.
Colgate-Palmolive Company (U.S.) dominated the global oral care market in 2016. The company significantly focuses on product innovation, product enhancement, and product launches; it invested USD 289 million for R&D activities in 2016. The company launched two new products, Colgate Optic White Toothbrush + Whitening Pen (the toothbrush with a built-in whitening pen) and Pain Out (a tooth pain relief product) in 2014 and 2016, respectively. It also focuses on strengthening customer engagement through promotional activities. The increasing demand for oral care products, growing awareness about oral hygiene, and strong presence in emerging markets are significant growth opportunities for the company to enhance its position in the oral care market in the coming years.
The Procter & Gamble Company (U.S.) held the second position in the global oral care market in 2016. P&G focuses on product launches as its major growth strategy. Since 2014, the company has launched various innovative oral care products such as Crest Sensi-Stop Strips, Crest Pro-Health [HD], Crest + Oral-B Pro- Health JR toothpaste and toothbrushes, and Oral-B GENIUS. Continuous innovation in oral care products will help the company enhance its position in the dental industry. The company targets dental institutes, private dental practitioners, pharmacies, and other distribution channels to promote and sell its products. The growing demand for technologically advanced oral care products and increasing awareness about dental hygiene provide growth opportunities to the company. However, frequent changes in the customer preferences towards oral care products present a major challenge for the company in the oral care market.
Related Links:
https://www.marketsandmarkets.com/Market-Reports/oral-care-market-80546246.html
https://www.marketsandmarkets.com/ResearchInsight/oral-care-market.asp
https://www.marketsandmarkets.com/PressReleases/oral-care.asp  

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