The import of personal deodorants and antiperspirants to Singapore has seen dynamic growth from 2013 through 2023. Notable peaks occurred from 2013 to 2014 with a significant jump of 60.31%. Despite variances such as the decrease in 2015 by 12.26%, there have been steady increases, with the latest figure in 2023 standing at $73.202 million, marking a 3.19% increase from 2022. Over the last two years, this category showcased a consistent upward trend with a year-on-year growth rate averaging 3.275%. Over a broader timeframe, CAGR analysis reveals a relatively moderate growth at 4.43% per annum over the past five years. Looking forward, forecasts predict a continued growth trajectory, showing a 12.32% cumulative increase by 2028 with an expected CAGR of 2.35%.
Future trends to watch for include:
• Increased demand for natural and organic deodorants driven by consumer health awareness.
• Technological advancements yielding more efficient and long-lasting products.
• Elevated marketing and distribution strategies focusing on digital platforms.
• Sustainability trends influencing packaging and production processes.