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Global Laundry Detergent Market is estimated to reach USD 239.42 billion by 2027, growing at a CAGR of 3.5 % between 2019 and 2027
Laundry Detergent Market is expected a significant growth during the forecast period owing to the rising demand from different industries such as hotel, textile industry, restaurant, hospital and others is fueling the growth of Laundry Detergent Market globally. In addition, increasing consciousness of e-commerce is booming the growth of this market. E-commerce offers various benefits such as variety of products offering, wide options, very easy delivery and time saving. Manufacturers reach out to a huge customer base through the online distribution channel which is further resulting in growth of the Laundry Detergent Market. Furthermore, many manufacturers are focused on developing green laundry products, which offer biodegradable components such as coconut oil, natural washing soda, mineral based surfactants, and plant based enzymes. Because of this factor the market of laundry detergent is observed to have a significant growth. The demand for Laundry Detergent globally is forecast to witness high growth driven by consumption in major emerging markets. More growth opportunities will turn up between 2019 and 2025 as compared to the past five years, suggesting rapid pace of change. Companies quickly adapting to this changing landscape are emerging as top performers and earning attractive revenues through sustainable transition, innovation, efficient pricing and sales execution strategies.
On the basis of product types global Laundry Detergent Market consists of following product types: powder, liquid, fabric softeners and detergent tablets. Powder detergents was the biggest product segment in the market contributing for about 31% of the total revenue in 2016. Based on Sales Channel, the market is segmented into Online Sales Channels, Supermarket & Hypermarket, Departmental & Convenience Stores and Independent Grocery Stores. The application segments are furthermore classified into residential and commercial type. Residential type leads the market from front and is expected to be dominantly so throughout the forecast period. This is majorly because of growing households in the developing countries such as India, China, and Brazil.
The major key players in global Laundry Detergent Market are: Unilever, Henkel AG & Co. KGaA, Church & Dwight Co., Inc., Proctor & Gamble, lion corporation, kao corporation, and method products. The Global Laundry Detergent Market is dominated by global players such as Unilever, Henkel AG & Co. KGaA, Church & Dwight Co., Inc., Proctor & Gamble. Companies are applying strategic merging and acquisition to improve their international presence and to profit significant share. Due to Increase in both domestic and export-oriented revenues are perceived for key players in the global Laundry Detergent Market. However, challenges such as increasing buyer bargaining power, emphasis on high-quality products at low costs are forcing significant changes in the Laundry Detergent’ supply chain.
On the basis of geographical analysis Global Laundry Detergent Market consists of several regions such as North America, Europe, China, India, Japan, and South-east Asia. Shift of consumers from conventional detergents to concentrated ones facilitated by eco-friendly and perfuming products is stimulating the growth trajectory path of laundry detergents in Western Europe. Growth of discounter stores and online channel focusing primarily on price sensitivity of consumers has been driving the demand for laundry care products in this region. Chinese consumers prefer liquid detergents in new formats such as liquid table detergents and concentrated liquid detergents over powder detergents as they have stronger cleaning capability and promote healthier skin. Rapid penetration of washing machine based laundry products have gained prominence in India boosted by the evolving retail landscape with wider availability of premium and differentiated products across brands. Presence of domestic players such as Nirma and Jyothy Laboratories, among others gives a steep competition to multinational brands in India. Asia-Pacific is expected to experience substantial growth in the coming years owing to the rise in the popularity of private label brands coupled with growing acceptance of premium laundry care products. The laundry market in European region is expected to post a quick growth due to the convenience and innovation of products such as color catchers, scent boosters and detergents used at lower temperatures.
Global Laundry Detergent Market: Product Type
Global Laundry Detergent Market: Application
Global Laundry Detergent Market: Competitive Analysis
Report includes accurate analysis of key players with Market Value, Company profile, SWOT analysis. The Study constitutes of following key players in Global Laundry Detergent Market :
Geographical analysis of Global Laundry Detergent Market :
Global Laundry Detergent Market Report delivers comprehensive analysis of :
| Parameters | Details |
|---|---|
Base Year | 2022 |
Historical Data | 2017-2022 |
Forecast Data | 2023-2029 |
Base Year Value (2022) | USD 194.77 million |
Forecast Value (2029) | USD 247.801832 million |
CAGR (2022 to 2028) | 3.5 % |
Regional Scope | North America, Europe, Asian Pacific, Latin America, Middle East and Africa, and ROW |
Laundry Detergent Market was valued at around USD 194.77 million in 2022 & estimated to reach USD 247.801832 million by 2029.
Laundry Detergent Market is likely to grow at compounded annual growth rate (CAGR) of 3.5% between 2023 to 2029.
Yes, the report includes COVID 19 impact on the market.
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