June 23, 2020
As per the report titled ‘Global Home Care Market Size study with COVID-19 Impact, by Product Type (Air Care, Bleach, Dishwashing, Insecticides, Laundry Care, Surface Care, and Toilet Care), Distribution Channel (Supermarket/ Hypermarkets, Convenience Stores, Online Stores, and Others) and Regional Forecasts 2020-2026’, available with Market Study Report LLC, global home care market is projected to record substantial growth over 2020-2026.
Rapid urbanization, changing lifestyle due to rising disposable income, and growing consumer awareness regarding health and hygienic living are fueling the growth of global home care market. Home care products include bleaching powder, dishwashers, laundry care and many more, which are used to maintain the cleanliness & hygiene and safety against infections inside the house, making these products essential for all households.
Moreover, the COVID-19 pandemic has augmented the sales of home care products. As majority of the population remain confined in their homes during lockdown, the demand for home care products is soaring due to increased consumer awareness regarding hygiene invoked by the contagious nature of coronavirus. In March 2020, the WHO released a set of interim guidelines for home care of patients with mild symptoms of COVID-19, thereby enforcing the use of home care products often to avoid contamination by the virus. Moreover, the organization advices people to clean their hands after every work using a hand sanitizer. The guidelines also encourage cleaning & disinfecting bathrooms daily using household detergents.
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According to a survey conducted by National Association for Home Care and Hospice between 6th and 17th April 2020 in US, over 40% of home health agencies reported active service to infected COVID-19 patients with more than 85% in New York/New Jersey area. Additionally, Nielsen Company revealed that traditionally only 20% consumers in China preferred buying home goods through online portals, however, during the COVID-19 pandemic the sales increased to 26%. Hence, growth of e-commerce sector, in tandem with surging demand for home-delivery of home care products is propelling the industry growth.
On the geographical front, North America home care market accounts for sizeable share currently, owing to a well-established real estate sector and high household expenditure.
Meanwhile, Asia Pacific home care market is slated to exhibit a strong CAGR over the study timeframe, attributable to rising disposable income, growing consumer awareness, and a large manufacturing base in the region.
Major industry players include The Clorox Company, Reckitt Benckiser Group Plc, Church & Dwight Co., Inc., Kao Corporation, Henkel AG & Co. KGaA, S.C. Johnson & Son Inc., The Procter & Gamble Company, and Unilever.