The global laundry detergent market size is expected to reach USD 182.2 billion by 2026 growing at a CAGR of 6.5% during the forecast period, according to a new study published by Report Ocean. The report “Laundry Detergent Market Share, Size, Trends, Industry Analysis Report By Product Type (Powder Detergents, Liquid Detergents, Detergent Tablets, Fabric Softeners and Others); By End Use (Residential, Commercial); By Regions, Segments & Forecast, 2019 – 2026” provides a comprehensive analysis of present market insights and future market trends.
Laundry detergents are unanimously sought after because of its requirement on a daily basis. Among the household chores, laundry holds top spot in market attractiveness with a majority of global population doing their laundry at least twice a week and rest doing it daily. Furthermore, increasing availability of machineries to get going with the task and separate services for commercial and household cleansing, demand for detergents has never looked back since. Rising disposable incomes in Asia Pacific and other emerging economies, shift from traditional washing by hand to appliance assisted method, has driven the automatic detergent consumption and more specifically the powder category.
Fabric conditioners are one of the most promisingly used product in the current industry scenario. Fabric conditioner did robust sales and grew at an astonishing pace in the past three to four years. Efficiency and efficacy are the two pillars that industry is leaning upon in notching up good sales figures. Customers also are supportive of this with price playing a vital role. Performance attributes such as removing obstinate and greasy stains, fabric color protection/preservation, and rinses most with all colors is what customers are aspiring for in these products.
A dash of scent, freedom from strong chemicals and no jarring colors are among the other attributes being looked for in these products. Product promotion has seen many stages and is a precursor to the industry’s rapid development and lavish sales in laundry detergent market. Time spent on product packaging also goes a long way in beautifying the products seen as a key promotion strategy. Generous packs, big packs, small packs for consumers with stringent budgets, refills and concentrates has been very helpful in attracting consumers form different strata.
Energy-savings in the form of cold-water wash that delivers best results at low temperatures thus cutting down on energy requirements has helped in high market penetration in every part of the world. Asia Pacific is still a developing market and sales will be driven not by volume but offering better and more premium products all under one roof. Competition is intense with innovation and high-quality generating interest.
The leading players in the laundry detergent market includes Alpha Chemical, General Organic Inc., Clean Bubbles., Inc., Procter and Gamble, Nirma, Hindustan Unilever Ltd., Henkel Ag &Co., KGaA, Church & Dwight Co, Inc., Henkel amongst others.
Report Ocean has segmented the global Laundry Detergent Market is segmented by Product type, End-Use and Region:
Laundry Detergent Product Type Outlook (Revenue USD Billions 2015-2026)
Laundry Detergent End-Use Outlook (Revenue USD Billions 2015-2026)
Laundry Detergent Region Outlook (Revenue USD Billions 2015-2026)
Publisher : Polaris Market Research