The deodorant market in India is growing at a phenomenal pace. The market size of deodorants in India has grown from INR 500 crore (US$ 83.08 million) to INR 2,300 crore (US$ 382.18 million) during 2009-14. Interestingly, the market is growing at around 18 per cent annually whilst the growth in rural markets is around 29 per cent. Rural India currently accounts for a tenth of deo sales in India and close to 31 per cent of the total market is accounted for by women's deodorants.
Hot summers, rising aspirations and healthy margins are continuously attracting new players into this segment. A total of 986 varieties of deodorants from 500 brands are available across markets in India, with as many as 103 recent launches. Leading brands like HUL’s Axe, ITC's Engage, Fogg, Park Avenue, Old Spice and Nike are jostling for the consumer pie with small town, low end brands like Dynamite, Aira Sensual, MenClub and LadyDiana. Vini Cosmetics’ Fogg is currently leading the market followed by ITC’s Engage.
The fact that deos have now become a broader lifestyle product in India is helping boost the overall growth rate of the segment. At the same time, attractive opportunities in the booming category of women’s deos and in rural parts of India are attracting both FMCG giants and regional players towards this segment.