The personal deodorants and antiperspirants market in Turkey has exhibited a downward trend from 2013 through 2023. The value in 2023 stood at 165.56 million USD, reflecting a consistent decline over the years. Specifically, the year-on-year variation from 2022 to 2023 was a decrease of 1.73%, while the average annual decline (CAGR) over the last five years (2019-2023) was -1.2%. Looking forward, the forecast for the five-year period from 2024 to 2028 indicates an average annual decline (CAGR) of -1.53%, which results in a cumulative projected market decrease of 7.41% by 2028.
Future trends to watch for:
- Potential shifts in consumer preferences towards natural or organic products.
- Market impact of economic fluctuations and consumer purchasing power.
- Innovations and advancements in product formulations and packaging.
- Marketing and promotional strategies by leading brands to reignite market interest.
- Regulatory changes affecting product ingredients and safety standards.