Over the past decade, the personal deodorants and antiperspirants market in Armenia has experienced fluctuations, reaching a value of 10.194 million USD in 2023. The market saw initial declines from 2013 to 2015, with slight recoveries in 2016 and 2017. A notable growth spurt occurred in 2018, but the market subsequently contracted from 2019 to 2023. Over the last five years, the compound annual growth rate (CAGR) has been negative at -3.69%, emphasizing a steady downward trend in market value.
Future trends to watch include:
- Innovations in natural and eco-friendly deodorant products, catering to consumer preferences for sustainable and health-conscious options.
- Potential market expansion through e-commerce platforms as consumers shift towards online shopping for convenience.
- Adaptation to changing demographics and an increasing focus on gender-neutral and inclusive personal care products.
How does Armenia rank in Personal Deodorants and Antiperspirants Market Size Value?
| # | 59 Countries | US Dollars | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 United States | 2,091,500,000 | 2023 | +0.93% | +0.98% | View data |
| 2 | 2 United Kingdom | 1,026,800,000 | 2023 | +1.06% | -1.85% | View data |
| 3 | 3 Germany | 779,790,000 | 2023 | -0.32% | -0.98% | View data |
| 4 | 4 France | 675,390,000 | 2023 | -0.52% | -1.07% | View data |
| 5 | 5 Spain | 454,760,000 | 2023 | +1.84% | -1.19% | View data |
| 50 | 50 Latvia | 15,044,000 | 2023 | +0.11% | -2.04% | View data |
| 51 | 51 Moldova | 11,942,000 | 2023 | +0.94% | +3.02% | View data |
| 52 | 52 Armenia | 10,194,000 | 2023 | -2.16% | -3.69% | |
| 53 | 53 Montenegro | 7,957,300 | 2023 | +1.42% | +1.16% | View data |
| 54 | 54 Cyprus | 7,342,600 | 2023 | -4.97% | -4.21% | View data |
