The global oral hygiene market will increase at a compound annual growth rate of more than 4% through 2020, according to Technavio, driven by the demand for luxury or premium products, an increase in the demand for cosmetic dentistry, and increased marketing and promotions.
For example, premium items such as tooth whiteners and denture care products accounted for more than 34% of the global market in 2015, and Technavio expects that share to grow during the forecast period. The company says that consumers are willing to pay more for these products because they ensure quality, performance, and durability.
“The increase in overall awareness about health and hygiene has also led to an increase in demand for premium products, even among men,” said Abhay Sinha, lead analyst at Technavio for health and wellness research.
“Premium products incorporate organic components that are safer than traditional oral care or hygiene products. Improved markets and increased disposable incomes will boost the demand for premium oral hygiene products in the future,” Sinha said.
The American Academy of Cosmetic Dentistry reports that around 99% of people believe that a smile is the most important asset. Consumers now can improve their smile beyond orthodontic work with teeth whitening products that remove stains and treat discoloration. Consumers’ high adoption, Technavio said, paved the way for cosmetic dentistry.
Consumers also are choosing veneers, crowns, and inlays and onlays to improve their dental health and appearance, further contributing to the revenue generated by the oral hygiene market. With so much at stake, vendors are ramping up their promotional efforts to capture market share and attract new consumers, particularly online.
“Many large companies are trying to reduce their dependence on traditional marketing channels and increase their focus on digital branding,” said Sinha. “Hence, the focus on innovative marketing strategies is expected to increase in the future and is further expected to have a strong impact on the market during the forecast period.”