The global teeth whitening products market is expected to reach USD 7.40 billion by 2024. The industry is driven by the mounting consumer demand for clean and white teeth coupled with awareness about oral hygiene. Moreover, 99.2% of the people believe that smile is an important social benefit and growing consumer preference for over the counter products in countries such as Germany, France, UK, India and China are anticipated to drive the growth of the market over the forecast period.
The leading teeth whitening products manufacturing companies are focusing on R&D to enhance its product portfolio and are expanding their presence in the global market by acquiring local players of that region. For instance, in April 2017, Colgate-Palmolive acquired Ciba-Geigy, an India-based teeth whitening brand, to expand its reach towards the rural parts of India. These factors are expected to provide an impetus to the growth of the market over the next coming years.
Whitening toothpaste segment holds the largest share in the market in terms of revenue and is expected to maintain its position over the forecast period. Whitening toothpaste has a major role in oral hygiene maintenance. Unhealthy lifestyle accompanied by consumption of liquor, cola, tobacco and other related products which cause discoloration of the teeth are anticipated to drive the market globally.
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The whitening strips segment was valued at USD 899.8 million in 2016 and are likely to witness a significant growth as a result of rising consumer demand and the requirement for quick result formulas. Furthermore, initiatives and campaigns have taken up by leading companies such as Colgate-Palmolive, P&G and GlaxoSmithKline to create awareness among consumers to use herbal products for teeth whitening are expected to augment the growth of the market.
The increase of these market is determined mainly by consumer demand which is to be favoured by the rising living standards such as modernization, personality traits and appearance. There is a huge competition in the teeth whitening products market as the market is consolidated. The leading players are acquiring the major local players and expanding its production capacity and presence globally. The leading manufacturers in these markets are Colgate-Palmolive, Proctor & Gamble, GlaxoSmithKline, Johnson & Johnson, Unilever and Henkel.
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