The global oral care market is estimated to reach $63.48 billion by 2023.
Philips India, the consumer goods major, is set to expand its oral healthcare portfolio in India.
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."
Internationally, the oral healthcare portfolio of Philips falls under five categories, including power toothbrushes; brush heads; interdental cleaning; oral hygiene; and whitening.
The global oral care market is estimated to reach $63.48 billion by 2023. It was valued at $40.63 billion in 2016.
Philips India posted 15% 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," Ratnam further stated.