Toothpaste Market Size, Share & Trends Analysis Report By Product Type (Conventional Toothpaste, Herbal Toothpaste, Whitening & Sensitive Toothpaste), By End-user (Kids, Adults), By Distribution Channel (Supermarket/Hypermarket, Independent Retail Stores, Pharmacy, Online Stores) and By Region (North America, Europe, APAC, Middle East and Africa, LATAM) Forecasts, 2026-2034

Last Updated: June 03, 2026 | Author: Anantika Sharma | Format:

Table Of Content

  1. Executive Summary

  2. Research Scope & Segmentation
    1. Research Objectives
    2. Limitations & Assumptions
    3. Market Scope & Segmentation
    4. Currency & Pricing Considered
  3. Market Opportunity Assessment
    1. Emerging Regions / Countries
    2. Emerging Companies
    3. Emerging Applications / End Use
  4. Market Trends
    1. Drivers
    2. Market Warning Factors
    3. Macro Economic Indicators
    4. Geopolitical Impact
    5. Technology Factors
  5. Market Assessment
    1. Porters Five Forces Analysis
    2. Value Chain Analysis
  6. Toothpaste Market Size Analysis
    1. Introduction
    2. Toothpaste Market Market Size & Forecast By Product Type 2022-2034 (USD MILLION/ Units)
      1. Conventional Toothpaste
      2. Herbal Toothpaste
      3. Whitening & Sensitive Toothpaste
    3. Toothpaste Market Market Size & Forecast By End-user 2022-2034 (USD MILLION/ Units)
      1. Kids
      2. Adults
    4. Toothpaste Market Market Size & Forecast By Distribution Channel 2022-2034 (USD MILLION/ Units)
      1. Supermarket/Hypermarket
      2. Independent Retail Stores
      3. Pharmacy
      4. Online Stores
  7. North America Toothpaste Market Size Analysis
    1. Introduction
    2. Toothpaste Market Market Size & Forecast By Product Type 2022-2034 (USD MILLION/ Units)
      1. Conventional Toothpaste
      2. Herbal Toothpaste
      3. Whitening & Sensitive Toothpaste
    3. Toothpaste Market Market Size & Forecast By End-user 2022-2034 (USD MILLION/ Units)
      1. Kids
      2. Adults
    4. Toothpaste Market Market Size & Forecast By Distribution Channel 2022-2034 (USD MILLION/ Units)
      1. Supermarket/Hypermarket
      2. Independent Retail Stores
      3. Pharmacy
      4. Online Stores
    5. U.S.
      1. Introduction
      2. Market Size & Forecast By Product Type 2022-2034 (USD MILLION/ Units)
        1. Conventional Toothpaste
        2. Herbal Toothpaste
        3. Whitening & Sensitive Toothpaste
      3. Market Size & Forecast By End-user 2022-2034 (USD MILLION/ Units)
        1. Kids
        2. Adults
      4. Market Size & Forecast By Distribution Channel 2022-2034 (USD MILLION/ Units)
        1. Supermarket/Hypermarket
        2. Independent Retail Stores
        3. Pharmacy
        4. Online Stores
    6. Canada
      1. Introduction
      2. Market Size & Forecast By Product Type 2022-2034 (USD MILLION/ Units)
        1. Conventional Toothpaste
        2. Herbal Toothpaste
        3. Whitening & Sensitive Toothpaste
      3. Market Size & Forecast By End-user 2022-2034 (USD MILLION/ Units)
        1. Kids
        2. Adults
      4. Market Size & Forecast By Distribution Channel 2022-2034 (USD MILLION/ Units)
        1. Supermarket/Hypermarket
        2. Independent Retail Stores
        3. Pharmacy
        4. Online Stores
  8. Europe Toothpaste Market Size Analysis
    1. Introduction
    2. Toothpaste Market Market Size & Forecast By Product Type 2022-2034 (USD MILLION/ Units)
      1. Conventional Toothpaste
      2. Herbal Toothpaste
      3. Whitening & Sensitive Toothpaste
    3. Toothpaste Market Market Size & Forecast By End-user 2022-2034 (USD MILLION/ Units)
      1. Kids
      2. Adults
    4. Toothpaste Market Market Size & Forecast By Distribution Channel 2022-2034 (USD MILLION/ Units)
      1. Supermarket/Hypermarket
      2. Independent Retail Stores
      3. Pharmacy
      4. Online Stores
    5. U.K.
      1. Introduction
      2. Market Size & Forecast By Product Type 2022-2034 (USD MILLION/ Units)
        1. Conventional Toothpaste
        2. Herbal Toothpaste
        3. Whitening & Sensitive Toothpaste
      3. Market Size & Forecast By End-user 2022-2034 (USD MILLION/ Units)
        1. Kids
        2. Adults
      4. Market Size & Forecast By Distribution Channel 2022-2034 (USD MILLION/ Units)
        1. Supermarket/Hypermarket
        2. Independent Retail Stores
        3. Pharmacy
        4. Online Stores
    6. Germany
      1. Introduction
      2. Market Size & Forecast By Product Type 2022-2034 (USD MILLION/ Units)
        1. Conventional Toothpaste
        2. Herbal Toothpaste
        3. Whitening & Sensitive Toothpaste
      3. Market Size & Forecast By End-user 2022-2034 (USD MILLION/ Units)
        1. Kids
        2. Adults
      4. Market Size & Forecast By Distribution Channel 2022-2034 (USD MILLION/ Units)
        1. Supermarket/Hypermarket
        2. Independent Retail Stores
        3. Pharmacy
        4. Online Stores
    7. France
      1. Introduction
      2. Market Size & Forecast By Product Type 2022-2034 (USD MILLION/ Units)
        1. Conventional Toothpaste
        2. Herbal Toothpaste
        3. Whitening & Sensitive Toothpaste
      3. Market Size & Forecast By End-user 2022-2034 (USD MILLION/ Units)
        1. Kids
        2. Adults
      4. Market Size & Forecast By Distribution Channel 2022-2034 (USD MILLION/ Units)
        1. Supermarket/Hypermarket
        2. Independent Retail Stores
        3. Pharmacy
        4. Online Stores
    8. Spain
      1. Introduction
      2. Market Size & Forecast By Product Type 2022-2034 (USD MILLION/ Units)
        1. Conventional Toothpaste
        2. Herbal Toothpaste
        3. Whitening & Sensitive Toothpaste
      3. Market Size & Forecast By End-user 2022-2034 (USD MILLION/ Units)
        1. Kids
        2. Adults
      4. Market Size & Forecast By Distribution Channel 2022-2034 (USD MILLION/ Units)
        1. Supermarket/Hypermarket
        2. Independent Retail Stores
        3. Pharmacy
        4. Online Stores
    9. Italy
      1. Introduction
      2. Market Size & Forecast By Product Type 2022-2034 (USD MILLION/ Units)
        1. Conventional Toothpaste
        2. Herbal Toothpaste
        3. Whitening & Sensitive Toothpaste
      3. Market Size & Forecast By End-user 2022-2034 (USD MILLION/ Units)
        1. Kids
        2. Adults
      4. Market Size & Forecast By Distribution Channel 2022-2034 (USD MILLION/ Units)
        1. Supermarket/Hypermarket
        2. Independent Retail Stores
        3. Pharmacy
        4. Online Stores
    10. Russia
      1. Introduction
      2. Market Size & Forecast By Product Type 2022-2034 (USD MILLION/ Units)
        1. Conventional Toothpaste
        2. Herbal Toothpaste
        3. Whitening & Sensitive Toothpaste
      3. Market Size & Forecast By End-user 2022-2034 (USD MILLION/ Units)
        1. Kids
        2. Adults
      4. Market Size & Forecast By Distribution Channel 2022-2034 (USD MILLION/ Units)
        1. Supermarket/Hypermarket
        2. Independent Retail Stores
        3. Pharmacy
        4. Online Stores
    11. Nordic
      1. Introduction
      2. Market Size & Forecast By Product Type 2022-2034 (USD MILLION/ Units)
        1. Conventional Toothpaste
        2. Herbal Toothpaste
        3. Whitening & Sensitive Toothpaste
      3. Market Size & Forecast By End-user 2022-2034 (USD MILLION/ Units)
        1. Kids
        2. Adults
      4. Market Size & Forecast By Distribution Channel 2022-2034 (USD MILLION/ Units)
        1. Supermarket/Hypermarket
        2. Independent Retail Stores
        3. Pharmacy
        4. Online Stores
    12. Benelux
      1. Introduction
      2. Market Size & Forecast By Product Type 2022-2034 (USD MILLION/ Units)
        1. Conventional Toothpaste
        2. Herbal Toothpaste
        3. Whitening & Sensitive Toothpaste
      3. Market Size & Forecast By End-user 2022-2034 (USD MILLION/ Units)
        1. Kids
        2. Adults
      4. Market Size & Forecast By Distribution Channel 2022-2034 (USD MILLION/ Units)
        1. Supermarket/Hypermarket
        2. Independent Retail Stores
        3. Pharmacy
        4. Online Stores
    13. Rest of Europe
      1. Introduction
      2. Market Size & Forecast By Product Type 2022-2034 (USD MILLION/ Units)
        1. Conventional Toothpaste
        2. Herbal Toothpaste
        3. Whitening & Sensitive Toothpaste
      3. Market Size & Forecast By End-user 2022-2034 (USD MILLION/ Units)
        1. Kids
        2. Adults
      4. Market Size & Forecast By Distribution Channel 2022-2034 (USD MILLION/ Units)
        1. Supermarket/Hypermarket
        2. Independent Retail Stores
        3. Pharmacy
        4. Online Stores
  9. APAC Toothpaste Market Size Analysis
    1. Introduction
    2. Toothpaste Market Market Size & Forecast By Product Type 2022-2034 (USD MILLION/ Units)
      1. Conventional Toothpaste
      2. Herbal Toothpaste
      3. Whitening & Sensitive Toothpaste
    3. Toothpaste Market Market Size & Forecast By End-user 2022-2034 (USD MILLION/ Units)
      1. Kids
      2. Adults
    4. Toothpaste Market Market Size & Forecast By Distribution Channel 2022-2034 (USD MILLION/ Units)
      1. Supermarket/Hypermarket
      2. Independent Retail Stores
      3. Pharmacy
      4. Online Stores
    5. China
      1. Introduction
      2. Market Size & Forecast By Product Type 2022-2034 (USD MILLION/ Units)
        1. Conventional Toothpaste
        2. Herbal Toothpaste
        3. Whitening & Sensitive Toothpaste
      3. Market Size & Forecast By End-user 2022-2034 (USD MILLION/ Units)
        1. Kids
        2. Adults
      4. Market Size & Forecast By Distribution Channel 2022-2034 (USD MILLION/ Units)
        1. Supermarket/Hypermarket
        2. Independent Retail Stores
        3. Pharmacy
        4. Online Stores
    6. Korea
      1. Introduction
      2. Market Size & Forecast By Product Type 2022-2034 (USD MILLION/ Units)
        1. Conventional Toothpaste
        2. Herbal Toothpaste
        3. Whitening & Sensitive Toothpaste
      3. Market Size & Forecast By End-user 2022-2034 (USD MILLION/ Units)
        1. Kids
        2. Adults
      4. Market Size & Forecast By Distribution Channel 2022-2034 (USD MILLION/ Units)
        1. Supermarket/Hypermarket
        2. Independent Retail Stores
        3. Pharmacy
        4. Online Stores
    7. Japan
      1. Introduction
      2. Market Size & Forecast By Product Type 2022-2034 (USD MILLION/ Units)
        1. Conventional Toothpaste
        2. Herbal Toothpaste
        3. Whitening & Sensitive Toothpaste
      3. Market Size & Forecast By End-user 2022-2034 (USD MILLION/ Units)
        1. Kids
        2. Adults
      4. Market Size & Forecast By Distribution Channel 2022-2034 (USD MILLION/ Units)
        1. Supermarket/Hypermarket
        2. Independent Retail Stores
        3. Pharmacy
        4. Online Stores
    8. India
      1. Introduction
      2. Market Size & Forecast By Product Type 2022-2034 (USD MILLION/ Units)
        1. Conventional Toothpaste
        2. Herbal Toothpaste
        3. Whitening & Sensitive Toothpaste
      3. Market Size & Forecast By End-user 2022-2034 (USD MILLION/ Units)
        1. Kids
        2. Adults
      4. Market Size & Forecast By Distribution Channel 2022-2034 (USD MILLION/ Units)
        1. Supermarket/Hypermarket
        2. Independent Retail Stores
        3. Pharmacy
        4. Online Stores
    9. Australia
      1. Introduction
      2. Market Size & Forecast By Product Type 2022-2034 (USD MILLION/ Units)
        1. Conventional Toothpaste
        2. Herbal Toothpaste
        3. Whitening & Sensitive Toothpaste
      3. Market Size & Forecast By End-user 2022-2034 (USD MILLION/ Units)
        1. Kids
        2. Adults
      4. Market Size & Forecast By Distribution Channel 2022-2034 (USD MILLION/ Units)
        1. Supermarket/Hypermarket
        2. Independent Retail Stores
        3. Pharmacy
        4. Online Stores
    10. Taiwan
      1. Introduction
      2. Market Size & Forecast By Product Type 2022-2034 (USD MILLION/ Units)
        1. Conventional Toothpaste
        2. Herbal Toothpaste
        3. Whitening & Sensitive Toothpaste
      3. Market Size & Forecast By End-user 2022-2034 (USD MILLION/ Units)
        1. Kids
        2. Adults
      4. Market Size & Forecast By Distribution Channel 2022-2034 (USD MILLION/ Units)
        1. Supermarket/Hypermarket
        2. Independent Retail Stores
        3. Pharmacy
        4. Online Stores
    11. South East Asia
      1. Introduction
      2. Market Size & Forecast By Product Type 2022-2034 (USD MILLION/ Units)
        1. Conventional Toothpaste
        2. Herbal Toothpaste
        3. Whitening & Sensitive Toothpaste
      3. Market Size & Forecast By End-user 2022-2034 (USD MILLION/ Units)
        1. Kids
        2. Adults
      4. Market Size & Forecast By Distribution Channel 2022-2034 (USD MILLION/ Units)
        1. Supermarket/Hypermarket
        2. Independent Retail Stores
        3. Pharmacy
        4. Online Stores
    12. Rest of Asia-Pacific
      1. Introduction
      2. Market Size & Forecast By Product Type 2022-2034 (USD MILLION/ Units)
        1. Conventional Toothpaste
        2. Herbal Toothpaste
        3. Whitening & Sensitive Toothpaste
      3. Market Size & Forecast By End-user 2022-2034 (USD MILLION/ Units)
        1. Kids
        2. Adults
      4. Market Size & Forecast By Distribution Channel 2022-2034 (USD MILLION/ Units)
        1. Supermarket/Hypermarket
        2. Independent Retail Stores
        3. Pharmacy
        4. Online Stores
  10. Middle East and Africa Toothpaste Market Size Analysis
    1. Introduction
    2. Toothpaste Market Market Size & Forecast By Product Type 2022-2034 (USD MILLION/ Units)
      1. Conventional Toothpaste
      2. Herbal Toothpaste
      3. Whitening & Sensitive Toothpaste
    3. Toothpaste Market Market Size & Forecast By End-user 2022-2034 (USD MILLION/ Units)
      1. Kids
      2. Adults
    4. Toothpaste Market Market Size & Forecast By Distribution Channel 2022-2034 (USD MILLION/ Units)
      1. Supermarket/Hypermarket
      2. Independent Retail Stores
      3. Pharmacy
      4. Online Stores
    5. UAE
      1. Introduction
      2. Market Size & Forecast By Product Type 2022-2034 (USD MILLION/ Units)
        1. Conventional Toothpaste
        2. Herbal Toothpaste
        3. Whitening & Sensitive Toothpaste
      3. Market Size & Forecast By End-user 2022-2034 (USD MILLION/ Units)
        1. Kids
        2. Adults
      4. Market Size & Forecast By Distribution Channel 2022-2034 (USD MILLION/ Units)
        1. Supermarket/Hypermarket
        2. Independent Retail Stores
        3. Pharmacy
        4. Online Stores
    6. Turkey
      1. Introduction
      2. Market Size & Forecast By Product Type 2022-2034 (USD MILLION/ Units)
        1. Conventional Toothpaste
        2. Herbal Toothpaste
        3. Whitening & Sensitive Toothpaste
      3. Market Size & Forecast By End-user 2022-2034 (USD MILLION/ Units)
        1. Kids
        2. Adults
      4. Market Size & Forecast By Distribution Channel 2022-2034 (USD MILLION/ Units)
        1. Supermarket/Hypermarket
        2. Independent Retail Stores
        3. Pharmacy
        4. Online Stores
    7. Saudi Arabia
      1. Introduction
      2. Market Size & Forecast By Product Type 2022-2034 (USD MILLION/ Units)
        1. Conventional Toothpaste
        2. Herbal Toothpaste
        3. Whitening & Sensitive Toothpaste
      3. Market Size & Forecast By End-user 2022-2034 (USD MILLION/ Units)
        1. Kids
        2. Adults
      4. Market Size & Forecast By Distribution Channel 2022-2034 (USD MILLION/ Units)
        1. Supermarket/Hypermarket
        2. Independent Retail Stores
        3. Pharmacy
        4. Online Stores
    8. South Africa
      1. Introduction
      2. Market Size & Forecast By Product Type 2022-2034 (USD MILLION/ Units)
        1. Conventional Toothpaste
        2. Herbal Toothpaste
        3. Whitening & Sensitive Toothpaste
      3. Market Size & Forecast By End-user 2022-2034 (USD MILLION/ Units)
        1. Kids
        2. Adults
      4. Market Size & Forecast By Distribution Channel 2022-2034 (USD MILLION/ Units)
        1. Supermarket/Hypermarket
        2. Independent Retail Stores
        3. Pharmacy
        4. Online Stores
    9. Egypt
      1. Introduction
      2. Market Size & Forecast By Product Type 2022-2034 (USD MILLION/ Units)
        1. Conventional Toothpaste
        2. Herbal Toothpaste
        3. Whitening & Sensitive Toothpaste
      3. Market Size & Forecast By End-user 2022-2034 (USD MILLION/ Units)
        1. Kids
        2. Adults
      4. Market Size & Forecast By Distribution Channel 2022-2034 (USD MILLION/ Units)
        1. Supermarket/Hypermarket
        2. Independent Retail Stores
        3. Pharmacy
        4. Online Stores
    10. Nigeria
      1. Introduction
      2. Market Size & Forecast By Product Type 2022-2034 (USD MILLION/ Units)
        1. Conventional Toothpaste
        2. Herbal Toothpaste
        3. Whitening & Sensitive Toothpaste
      3. Market Size & Forecast By End-user 2022-2034 (USD MILLION/ Units)
        1. Kids
        2. Adults
      4. Market Size & Forecast By Distribution Channel 2022-2034 (USD MILLION/ Units)
        1. Supermarket/Hypermarket
        2. Independent Retail Stores
        3. Pharmacy
        4. Online Stores
    11. Rest of MEA
      1. Introduction
      2. Market Size & Forecast By Product Type 2022-2034 (USD MILLION/ Units)
        1. Conventional Toothpaste
        2. Herbal Toothpaste
        3. Whitening & Sensitive Toothpaste
      3. Market Size & Forecast By End-user 2022-2034 (USD MILLION/ Units)
        1. Kids
        2. Adults
      4. Market Size & Forecast By Distribution Channel 2022-2034 (USD MILLION/ Units)
        1. Supermarket/Hypermarket
        2. Independent Retail Stores
        3. Pharmacy
        4. Online Stores
  11. LATAM Toothpaste Market Size Analysis
    1. Introduction
    2. Toothpaste Market Market Size & Forecast By Product Type 2022-2034 (USD MILLION/ Units)
      1. Conventional Toothpaste
      2. Herbal Toothpaste
      3. Whitening & Sensitive Toothpaste
    3. Toothpaste Market Market Size & Forecast By End-user 2022-2034 (USD MILLION/ Units)
      1. Kids
      2. Adults
    4. Toothpaste Market Market Size & Forecast By Distribution Channel 2022-2034 (USD MILLION/ Units)
      1. Supermarket/Hypermarket
      2. Independent Retail Stores
      3. Pharmacy
      4. Online Stores
    5. Brazil
      1. Introduction
      2. Market Size & Forecast By Product Type 2022-2034 (USD MILLION/ Units)
        1. Conventional Toothpaste
        2. Herbal Toothpaste
        3. Whitening & Sensitive Toothpaste
      3. Market Size & Forecast By End-user 2022-2034 (USD MILLION/ Units)
        1. Kids
        2. Adults
      4. Market Size & Forecast By Distribution Channel 2022-2034 (USD MILLION/ Units)
        1. Supermarket/Hypermarket
        2. Independent Retail Stores
        3. Pharmacy
        4. Online Stores
    6. Mexico
      1. Introduction
      2. Market Size & Forecast By Product Type 2022-2034 (USD MILLION/ Units)
        1. Conventional Toothpaste
        2. Herbal Toothpaste
        3. Whitening & Sensitive Toothpaste
      3. Market Size & Forecast By End-user 2022-2034 (USD MILLION/ Units)
        1. Kids
        2. Adults
      4. Market Size & Forecast By Distribution Channel 2022-2034 (USD MILLION/ Units)
        1. Supermarket/Hypermarket
        2. Independent Retail Stores
        3. Pharmacy
        4. Online Stores
    7. Argentina
      1. Introduction
      2. Market Size & Forecast By Product Type 2022-2034 (USD MILLION/ Units)
        1. Conventional Toothpaste
        2. Herbal Toothpaste
        3. Whitening & Sensitive Toothpaste
      3. Market Size & Forecast By End-user 2022-2034 (USD MILLION/ Units)
        1. Kids
        2. Adults
      4. Market Size & Forecast By Distribution Channel 2022-2034 (USD MILLION/ Units)
        1. Supermarket/Hypermarket
        2. Independent Retail Stores
        3. Pharmacy
        4. Online Stores
    8. Chile
      1. Introduction
      2. Market Size & Forecast By Product Type 2022-2034 (USD MILLION/ Units)
        1. Conventional Toothpaste
        2. Herbal Toothpaste
        3. Whitening & Sensitive Toothpaste
      3. Market Size & Forecast By End-user 2022-2034 (USD MILLION/ Units)
        1. Kids
        2. Adults
      4. Market Size & Forecast By Distribution Channel 2022-2034 (USD MILLION/ Units)
        1. Supermarket/Hypermarket
        2. Independent Retail Stores
        3. Pharmacy
        4. Online Stores
    9. Colombia
      1. Introduction
      2. Market Size & Forecast By Product Type 2022-2034 (USD MILLION/ Units)
        1. Conventional Toothpaste
        2. Herbal Toothpaste
        3. Whitening & Sensitive Toothpaste
      3. Market Size & Forecast By End-user 2022-2034 (USD MILLION/ Units)
        1. Kids
        2. Adults
      4. Market Size & Forecast By Distribution Channel 2022-2034 (USD MILLION/ Units)
        1. Supermarket/Hypermarket
        2. Independent Retail Stores
        3. Pharmacy
        4. Online Stores
    10. Rest of LATAM
      1. Introduction
      2. Market Size & Forecast By Product Type 2022-2034 (USD MILLION/ Units)
        1. Conventional Toothpaste
        2. Herbal Toothpaste
        3. Whitening & Sensitive Toothpaste
      3. Market Size & Forecast By End-user 2022-2034 (USD MILLION/ Units)
        1. Kids
        2. Adults
      4. Market Size & Forecast By Distribution Channel 2022-2034 (USD MILLION/ Units)
        1. Supermarket/Hypermarket
        2. Independent Retail Stores
        3. Pharmacy
        4. Online Stores
  12. Competitive Landscape
    1. Toothpaste Market Share By Players
    2. M&A Agreements & Collaboration Analysis
    3. Tier Structure Analysis
    4. Recent Developments
  13. Market Players Assessment
    1. P and G
      1. Overview
      2. Business Information
      3. Revenue
      4. ASP
      5. SWOT Analysis
      6. Recent Developments
    2. Unilever
    3. GSK
    4. Patanjali
    5. Henkel AG
    6. Arm and Hammer
    7. Dabur International Ltd
    8. Johnson and Johnson
    9. Amway
    10. Colgate Palmolive
  14. Research Methodology
    1. Research Data
      1. Secondary Data
        1. Major Secondary Sources
        2. Key Data from Secondary Sources
      2. Primary Data
        1. Key Data from Primary Sources
        2. Breakdown of Primaries
      3. Secondary And Primary Research
        1. Key Industry Insights
    2. Market Size Estimation
      1. Bottom-Up Approach
      2. Top-Down Approach
      3. Market Projection
    3. Research Assumptions
      1. Assumptions
    4. Limitations
    5. Risk Assessment
  15. Appendix
    1. Discussion Guide
    2. Customization Options
    3. Related Reports

  16. Disclaimer

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