According to a new report published by Allied Market Research, titled, “Fabric Wash and Care Market by Product Type, Application, and Distribution Channel: Global Opportunity Analysis and Industry Forecast, 2022–2031,” The report offers an extensive analysis of key growth strategies, drivers, opportunities, key segment, Porter’s Five Forces analysis, and competitive landscape.
The Fabric Wash and Care market size was valued at $99,610.0 million in 2020, and is projected to reach $197,536.9 million by 2031, registering a CAGR of 6.3% from 2022 to 2031.
The rise of the fabric wash and care market may be ascribed to change in consumer lifestyles as people have become more hygiene concerned day by day, as well as rising demand for value-added products and premium items, which are strengthening market growth. Furthermore, rising disposable income, improved container design, and new product development are driving factors in the fabric wash & care industry.
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The fabric wash and care market is categorized into product type, application, distribution channel, and region. By product type, the market is sub segmented into detergents, fabric softener/conditioners, and bleach. By application, it comprises automotive, aviation, healthcare, hospitality, and residential. By distribution channel, the market is segmented into hypermarkets/supermarkets, specialty stores, online, and others. By geography, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The basis of product type, the market is divided into detergent, fabric softener/conditioner, and bleach. Fabric softener and conditioner segment is expected to be the largest segment during the forecast period. Fabric softener is useful for a variety of reasons. It is an efficient method for keeping materials supple and wrinkle-free. It also reduces friction between fibers, which results in less static cling and protects clothing from wear and tear. As a result of these advantages and widespread availability, this market segment is the largest and fastest growing.
Basis of application, the market is divided into residential, hospitality, healthcare, aviation, and healthcare. Residential segment held the largest share in 2020. Owing to the availability of a wide selection of economical detergents and fabric conditioners, the usage of these products has grown in popularity among household consumers. Furthermore, the increased demand for liquid detergents among homes due to the convenience and ease they provide over traditional washing soaps and bars, which contributes to market growth.
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The basis of sales channels, market is divided into hypermarkets/supermarkets, specialty stores, online, and others. Customers can simply purchase the goods from hypermarkets and supermarkets. Customer loyalty is extremely important in hypermarket/supermarket distribution, and having genuine merchandise is always a priority. As customers’ purchasing power increases, this market is likely to grow substantially in developing countries. Furthermore, the high proportion of customers in developing nations is expected to have a significant impact on segment growth.
The epidemic of Covid-19 has had a detrimental influence on the Fabric Wash and Care Market. With regard to the industries. Due to the lockdown and social distancing norms, major corporations have ceased operations in several areas. Following the pandemic, the industry anticipates a surge in demand and supply due to increased urbanization and the growth in need for efficient use of available space.
The key players operating in the fabric wash and care industry include:
○ Unilever Group
○ Procter & Gamble
○ Reckitt Benckiser Group
○ Henkel AG & Co. KGaA
○ The National Detergent Company SAOG
○ Church & Dwight Co. Inc.
○ SEITZ GMBH
○ Nice Group
○ Wipro Enterprises Limited
○ Colgate-Palmolive Company.
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Key Findings Of The Study
○ On the basis of product type, fabric softener/conditioner segment is projected to witness the highest CAGR of 7.0%, in revenue terms, during the forecast period.
○ On the basis of application, the residential segment is expected to dominate the market from 2022 to 2031.
○ On the basis of distribution channel, the online segment is expected to grow at a significant CAGR during the forecast period.
○ On the basis of region, Asia-Pacific is anticipated to witness highest growth rate, registering a CAGR of 7.4% from 2022 to 2031.
About Allied Market Research:
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
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