The growing number of oral hygiene initiatives, unhealthy dietary habits, and increasing awareness related to the benefits of electric toothbrushes are some of the factors that are positively impacting the demand for such products. Owing to such factors, the global electric toothbrush market is projected to reach $4.8 billion by 2030, growing with a CAGR of 5.7% during the forecast period (2020–2030). Furthermore, the rise in the geriatric population is also predicted to benefit the growth of the industry in the coming years.
The impact of coronavirus (COVID-19) has been taken into account in order to calculate the electric toothbrush market values. Due to the lockdown and halt in production, the global healthcare system is facing an unprecedented challenge during the COVID-19 pandemic, and key players are responding in an extraordinary way. For instance, on July 31, 2020, Colgate-Palmolive Company, which occupies the biggest share in the global oral care market, announced its 2nd quarter results, withdrawing its financial guidance for the year 2020 due to the prevailing market uncertainty. The company has also announced cost savings, in the form of funding cuts for its growth initiatives and advertising investment reduction in most of the markets.
Based on head movement, the market for electric toothbrush is categorized into sonic/side-by-side and rotation/oscillation. Of these, the sonic/side-by-side category dominated the market in 2019, in terms of both volume and value. Sonic toothbrushes generally vibrate at a frequency of 24,000–40,000 strokes per minute. In contrast to this, rotating/oscillating toothbrushes display a frequency of 1,300–8,800 strokes per minute. A powerful vibration influencing the fluid dynamics, created by the sonic pulse technology, forces the toothpaste and fluids into the mouth, between the teeth and gums, thus creating an interdental cleaning action. Such factors are resulting in more demand for sonic/side-by-side electric toothbrushes in the market.
Based on end user, the electric toothbrush market is categorized into adults and children. During the forecast period, the sales of children electric toothbrushes are projected to gain massive traction. This would primarily be due to the rising cases of cavities and tooth decay in children, thus resulting in more attention by their parents on proper oral care. Furthermore, through a survey, it has been analyzed that not all children are interested in brushing their teeth on a daily basis. These smart toothbrushes are more engaging for kids these days, which helps them accomplish high oral cleaning standards and follow healthy habits.
Geographically, the Asia-Pacific (APAC) region is projected to witness the fastest growth in the electric toothbrush market during the forecast period. The increasing adoption of online shopping is resulting in an easy access to electric toothbrushes in developing countries, which, in turn, is benefitting the industry growth in the region. According to the India Brand Equity Foundation, the Indian e-commerce industry is in an upward growth trajectory, and it is expected to become the second-largest in the world, by surpassing the U.S., in 2034.
The Indian e-commerce market is expected to reach $64 billion by 2020 and $200 billion by 2026. Therefore, the continuous rise in the adoption of online shopping in the developing countries of the region is expected to provide a significant opportunity of growth to the key players in the electric toothbrush industry during the forecast period.
Participants in the electric toothbrush market are merging with and acquiring other players in order to enhance their market presence. For instance, in July 2017, Church & Dwight Co. Inc. announced that it had signed a definitive agreement to acquire Water Pik Inc. for approximately $1.0 billion in cash. Water Pik Inc. is a water flosser and replacement showerhead brand in the U.S. Its products are marketed in the U.S., Canada, and over 80 more countries. Through this acquisition, the former company aimed to strengthen its position in the oral care market.
Similarly, in January 2017, High Ridge Brands LLC announced the acquisition of Dr. Fresh LLC, a U.S.-based oral care product provider. The acquisition was done through a private equity fund co-advised by NexPhase Capital LP and Moelis Capital Partners LLC.
The major players operating in the global electric toothbrush market include Colgate-Palmolive Company, Panasonic Corporation, Koninklijke Philips N.V., The Procter & Gamble Company, FOREO AB, Quip NYC Inc., Water Pik Inc., JSB Health & Fitness Pvt. Ltd., Lion Corporation, Shenzhen Risun Technology Co. Ltd., Dr. Fresh LLC, Pierre Fabre S.A., and Den-Mat Holdings LLC.