July 15, 2019
Global laundry detergent market is expected to reach $215.3 billion by the end of 2026, according to the latest research available at Market Study Report LLC, report provides extensively data on market share, growth, trends and forecasts for the period 2018-2026.
For the record, out of all the household cleaning errands, laundry is one of the most important ones, also various studies claim that more than 65% of the global population does laundry at least twice a week, while the rest does it almost every day. Additionally, increasing accessibility to washing machines as well as different laundry services for residential and commercial purpose will expedite product adoption globally.
Growth in disposable income, especially in the Asia Pacific region and other developing markets, and the shift from conventional laundry methods to appliance supported washing have primarily driven the demand for automatic detergent consumption and the detergent powder product category.
As per the report, fabric conditioners are a high potential product segment in the present market scenario. Sales of fabric smoothers and conditioners have increased at an average of more than 9% over the last three to four years. Efficacy and efficiency are the two most significant qualities consumers are expecting from these products. Cost, however, plays an important role too. Performance features such as color protection/preservation, effective stain removal, washable to all colors, and disinfectant are some of the vital ones that consumers have been currently seeking in these products. Other attributes appreciated by the customers include fragrance, no scent, environment friendly, and free of harsh chemicals, etc.
According to the report, product marketing has primarily aided market's swift development and the worldwide increase in sales of laundry detergent. An important promotion strategy is effective product packaging. Moreover, varied packaging options offered by industry players such as bulk-sized or large packets for long-term savings, small packets for customers on tight budgets, refills, and concentrates, etc. are also attracting customers from all sections of the societies.
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Moreover, improved energy and water efficacy from highly efficient products demanding less water and products compatible for cold water formulations that provide better results at low temperatures thereby reducing energy requirement have also resulted in high penetration of these products across all regions. Simple and continence laundry detergents which are easy to use, while offering faster results are the most wanted products proving to be more valuable for customers.
In terms of regional growth, the Asia Pacific dominated the global laundry detergent market in 2017. Sales within the region are estimated to be driven by volume and premiumization since economic growth in the region has enabled consumers to choose from a wider range of these products. The region also observes intense competition, with market majors introducing innovative and more efficient products of premium quality.
The market majors profiled in laundry detergent market report include Alpha Chemical, Clean Bubbles, Inc., General Organics, Inc., Nirma, Hindustan Unilever Limited, Procter & Gamble, KGaA, Henkel AG & Company, Henkel, and Church & Dwight Co, Inc. among others.