According to the most recent annual report, Colgate-Palmolive (India) Ltd is actively exploring avenues to enhance premium offerings in the health, therapeutic toothpaste, and oral beauty sectors, specifically targeting metropolitan and urban areas.
Colgate-Palmolive (India) Ltd (CPIL) also sees a “significant room” to deepen the penetration of oral care adjuncts like floss and mouthwash.
“Outside of oral care, the company sees opportunity in skin care, hair care, bath & shower products that have the largest market size within the beauty & personal care segment,” it said.
CPIL stated that the rapid growth in these categories can be attributed to increasing incomes, growing aspirations, and the widespread accessibility facilitated by e-commerce.
“There is also an opportunity for premium and innovative products in metros and urban cities in the space of family health, therapeutic toothpaste and oral beauty,” it said.
Additionally, CPIL is dedicated to establishing a robust personal care collection by capitalizing on the strong brand recognition of Palmolive. Moreover, CPIL is actively exploring suitable prospects within the extensive global portfolio of Colgate-Palmolive.
“The equity of Palmolive is under-served at the moment and there is clearly an opportunity to build a robust personal care business, as the brand has a 60-65 per cent awareness level, which is difficult to build in a fragmented market,” it said.
At present, Palmolive’s range of products encompasses high-quality body wash and hand wash options.
As per CPIL, the prevalence of oral health issues is on the rise globally, including in India, owing to rapid lifestyle changes, evolving living standards, and a surge in diets rich in sugar.
While there has been an increase in awareness regarding oral hygiene following the pandemic, there is still progress to be made in this regard.
“Per capita usage of toothpaste remains low in India and driving this represents an opportunity for category growth,” said the annual report.
Furthermore, it has been noted that only approximately 20 percent of urban consumers adhere to the recommended practice of brushing twice a day, while a staggering 55 percent of rural households do not brush on a daily basis.
“The industry is also expanding as a result of increased premiumisation, customer demand for more tailored solutions, and a growing number of active practising dentists,” it said.
CPIL stated that India welcomes approximately 25,000 qualified dentists annually.
CPIL, with its products available in over 1.7 million stores, achieved net sales of INR 5,188 crore in the fiscal year 2023.