Philips to enter oral care market
While the global oral care market, valued at $40.63 billion in 2016, is estimated to reach $63.48 billion by 2023.
Hyderabad: Consumer goods major Philips India is set to expand its oral healthcare portfolio in the country, a top company official said.
Speaking to this correspondent, ADA Ratnam, president-personal health, Philips India Subcontinent, said, “We are looking at expanding in oral healthcare segment in India. It is a big business for us globally. We would like to introduce products in the country with a strong focus on Indian consumer needs.”
Ratnam didn’t spell out the specific products to be launched here. Globally, Philips’ oral healthcare portfolio falls under five categories: power toothbrushes; brush heads; interdental cleaning; oral hygiene; and whitening.
While the global oral care market, valued at $40.63 billion in 2016, is estimated to reach $63.48 billion by 2023, awareness about oral hygiene in India remains low, say experts. Philips India, known for its grooming products, recorded 15 per cent CAGR in the last seven years in the beauty segment. “This year the personal health division grew by about 12-15 per cent by strengthening its presence in new categories besides launching new products. India is among the top ten markets for the personal health business of Philips globally,” said
Mr Ratnam.