The personal deodorants and antiperspirants market in Malaysia stood at 53.404 million USD in 2023 for value. Over the past decade, the market has seen fluctuations with a notable decrease from 2013 to 2017. From 2018 onwards, the market showed a slight recovery before further declines. The year-on-year variation from 2021 to 2023 was -1.75% and -1.77% respectively. The compound annual growth rate (CAGR) over the last five years was -0.81%.
Future projections suggest a continuous decline with a forecasted -1.46% CAGR over the next five years, indicating a potential market value of 48.743 million USD by 2028. This represents a cumulative negative growth rate of -7.07% from 2023 to 2028.
Future trends to watch for include:
- Shifts in consumer preferences towards natural and sustainable products.
- Impact of emerging competitors and new market entrants.
- Influence of economic conditions and disposable income on consumer spending.
- Marketing and product innovation strategies from key brands in the market.
