Electric Toothbrush Market Growth And Competitive Dynamics With Market Share Analysis, Trends And Forecast
The global electric toothbrush market size is expected to register a CAGR of 7.8%. The market is estimated to hold a current value of US$ 4.6 billion in 2023 and is expected to reach US$ 9.8 billion by 2033.
Personal care preferences of consumers are changing quickly. Consumer preference for effective, simple-to-use, and rapid oral hygiene solutions is expanding. The introduction of very effective product variants that can reduce brushing time is the result of recent product advances by important players.
Increasing Oral Issues Emerge as Significant Market Driver
Instances of oral diseases, including mouth cancer, are currently on the rise. The modern eating patterns, consuming highly acidic sugary food, have created a conducive environment for plaque and tartar. Therefore, in the fast-moving world, electric toothbrushes have become an easy, quick fix for those battling dental issues.
Consumer Awareness Can Accelerate Market Growth
Despite the rising popularity of electric toothbrushes, it is yet to penetrate the market extensively. Due to its lack of awareness and benefits, the market growth might slow down. Coupled with the fact that the product is often priced at a higher point than regular toothbrushes, gaining traction in developing markets could be a difficult task.
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High Maintenance Costs can Impact the Market
Electric toothbrushes require high maintenance costs, as opposed to traditional toothbrushes, which may be easily tossed away or replaced. When forced to spend more money on a costly product for batteries or electricity, consumers may prefer product alternatives. Consumers may find it difficult to maintain the delicate electric circuit of toothbrushes. Therefore, consumers might be reluctant to pay more for its replacement services due to its cost, which is higher than a regular toothbrush.
Key Takeaways
The global electric toothbrush market recorded a 7.3% CAGR between 2017 and 2022.
During the forecast period, the United States market is projected to record a CAGR of 6.3% and is expected to reach a valuation of US$ 2.7 billion by 2033.
The China market is anticipated to register a CAGR of 10.7% between 2023 and 2033.
Between 2023 and 2033, the rechargeable segment is projected to register a CAGR of 6.6% in the product type category.
During the forecast period, the hypermarket/supermarket, the top sales channel segment is anticipated to thrive at a CAGR of 7.5%.
Market Restraints
The key market restraints impeding the progress are high product cost and maintenance. To overcome these challenges, market players are working on innovations, that make the product more affordable and easy to maintain.
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Important Market Developments:
Sustainability Concerns Addressed: SURI is a London-based startup that stands for Sustainable Rituals. The startup manufactures sustainable electric toothbrushes. The electric toothbrushes’ body is made of recyclable aluminum. The plastic heads are plant-based and can be recycled or industrially composted.
Xiaomi Corporation Marks Presence in the South Asian Market: In June 2020, Xiaomi launched the T100 electric toothbrush series in India. The product comes with several advanced features. This includes 30-day battery life, low noise, and an alluring glossy design.
Colgate and Philips Join Hands: In March 2021, Koninklijke Philips N.V. and Colgate Palmolive Company announced a collaboration. Primarily focusing on the South American market, this collaboration aims to widen awareness of oral hygiene practices. This also includes the propagation of awareness on dental hygiene tools such as electric toothbrush.
Colgate goes Big on Research and Development: The Colgate Palmolive Company recently shelled out huge bucks for research. In 2019, the company invested US$ 280 million in research and development. This is anticipated to contribute to the advancement of electric toothbrush technology.
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