According to a new report published by Allied Market Research, titled, “Laundry Detergent Market by Product Type (Powder, Liquid, Gel, and Pods/Tablets), Application (Industrial and Household), and Distribution Channel (Online and Offline): Global Opportunity Analysis and Industry Forecast 2021-2030″ The global laundry detergent market size is expected to reach $98,139.7 million by 2027 at a CAGR of 4.8% from 2021 to 2030. The report provides a detailed analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive landscape, and changing market trends.
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Laundry detergent is used for effective cleaning action on dirt and grease, and is extensively used in washing machines. Commonly, components used in making a laundry detergent generally include builders or water softeners, bleach, surfactants, enzymes, soil anti-deposition agents, optical brighteners, foam regulators, fragrances, dyes, and corrosion inhibitors. Washing clothes is a part of daily routine in almost every household and commercial laundry services.
Liquid laundry detergent market is expected to drive the Asia-Pacific and LAMEA regions in the upcoming future. This is attributed to rise in disposable income coupled with growing penetration of washing machines in the region. Moreover, growing awareness regarding the use of different innovating detergent products such as gels, liquid, and pod laundry detergents is expected to fuel the growth of the laundry detergent market during the forecast period.
The demand for the laundry detergent is growing at a sustainable across the world due to its usage in every corner of the globe on regular basis. One of the major factors influencing the demand for the laundry detergent is its easy availability. Laundry detergent is easily available across the globe through supermarkets, hypermarkets, e-commerce, convenience stores, grocery stores, and other types of distribution channels. The growing consumer awareness regarding cleanliness and hygiene, rising disposable income, and desire to look presentable at all times is expected to drive the growth of the laundry detergent market during the forecast period.
According to the laundry detergent market analysis, the laundry detergent market is segmented into product type, application, distribution channel, and region. On the basis of product type, the market is categorized into powder, liquid, gel, and pods/tablets. By application, it is segregated into industrial and household. Based on the distribution channel, it is segmented into online, supermarket/hypermarket, convenience stores, independent retailers, and others. Region wise, it is analyzed across North America (the U.S., Canada, and Mexico), Europe (the UK, Germany, France, Italy, Spain, and rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Australia, and rest of Asia-Pacific), and LAMEA (Brazil, Argentina, South Africa, Saudi Arabia, and rest of LAMEA).
Region wise, Asia-Pacific dominated the laundry detergent market in 2020, and is expected to sustain its dominance throughout the forecast period. The key factors driving the of the laundry detergent market growth in the region are high consumption of powder detergent by the majority of the population, rising consumer awareness regarding health and hygiene, and rising disposable income.
The outbreak of the COVID-19 pandemic resulted in hampered production and disrupted supply chain across the globe, which hampered the growth of the laundry detergent industry, insignificantly. People were forced to stay at their homes due to the strict lockdown measures implemented by the government to curb the spread of the virus. Moreover, government also impose a ban on travelling that caused severe loss to the hotels industry. This resulted a loss as the hotels, lodges, institutions, and other commercial spaces that offers laundry cleaning services. However, people became more concerned and aware regarding cleanliness and hygiene that fostered the demand for the detergent and boosted the growth of the laundry detergent market.
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The key players profiled in this report include BASF SE, Clariant AG, Croda International, E.I. du Pont de Nemours and Company, Henkel AG & Co. KGaA, Kao Corporation, Procter & Gamble, The Dow Chemical Company, Unger Fabrikker AS, and Unilever Plc.
Key Benefits For Stakeholders:
○ The report provides a quantitative analysis of the current market trends, estimations, and dynamics of the market size from 2020 to 2030 to identify the prevailing opportunities.
○ Porter’s five forces analysis highlights the potency of buyers and suppliers to enable stakeholders to make profit-oriented business decisions and strengthen their supplier–buyer network.
○ The market player positioning segment facilitates benchmarking and provides a clear understanding of the present position of the market players in the laundry detergent industry.
○ In-depth analysis and the market size and segmentation assist to determine the prevailing laundry detergent market opportunities.
○ The major countries in each region are mapped according to their revenue contribution to the market.
The research provides answers to the following key questions:
○ What is the estimated growth rate of the market for the forecast period 2022-2028?
○ What will be the market size during the estimated period?
○ What are the key driving forces responsible for shaping the fate of the Laundry Detergent Market during the forecast period?
○ Who are the major market vendors and what are the winning strategies that have helped them occupy a strong foothold in the Laundry Detergent Market?
○ What are the prominent market trends influencing the development of the Laundry Detergent Market across different regions?
○ What are the major threats and challenges likely to act as a barrier to the growth of the Laundry Detergent Market?
○ What are the major opportunities the market leaders can rely on to gain success and profitability?
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