Continuous innovation in oral care products – How the dental industry will grow in future?
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...