21 March 2019
The global laundry detergent market is likely to witness momentous growth in the years to come. Growing demand for washing machine in emerging countries and technological advancements can propel market growth in the coming years. Rising product demand in several verticals, such as hospital, hotel, restaurants, and textile industry, is likely to drive the market in the coming years. Development of distribution channels is also anticipated to bode well for the market.
Growing popularity of e-commerce is a key driving factor in the market. E-commerce offers various benefits, such as easy delivery and availability of a wide range of products. Manufacturers are expanding their customer base through online distribution channel. This is anticipated to support market growth in the coming years. Moreover, numerous manufacturers are focusing on the development of green laundry products, which can, in turn, boost market growth in the years to come. These products include components, such as natural washing soda, plant-based enzymes, mineral based surfactants, natural washing soda, and coconut oil. Organic laundry detergents doesn’t comprise chlorine, phosphate, and other artificial additives, which help in avoiding skin allergies and other disorders that are caused due to traditional detergents. These products offer greater water solubility and efficiency over other alternatives.
Availability of forged products and increasing prices of detergents are anticipated to hinder market growth. However, introduction of innovative products and utilization of quality ingredients in the manufacturing can create growth opportunities for the market in the coming years.
Laundry products are increasingly utilized in household and industrial applications. Household is a leading application in the market due to growing adoption of washing machines in developing countries. Industrial application is projected to witness notable growth due to growing use of detergent as a cleaning agent in a wide range of industries. Growth of the hospitality sector is likely to contribute to the segment’s growth. Moreover, strong growth of the tourism industry has increased the demand for new hotels. Growing construction of hotels is likely to boost the growth in the years to come.
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Laundry detergent is available in different types, such as powder, liquid, detergent tablets, and fabric softeners. Powder is likely to hold a prominent share in the market. The product is anticipated to witness strong growth in developing countries, such as Brazil, India, and China. Consumers from emerging countries, especially in rural areas prefer economical products. Liquid detergent is anticipated to expand at a significant rate due to its convenience and cost-effectiveness over power products. In addition, adoption of these products is high across Europe and North America.
Asia Pacific is anticipated to witness robust growth in the years to come. Factors, such as improving economic condition, growing adoption of modern lifestyle, increasing use of washing machine, and easy financing, are expected to boost regional growth. Development of online channel and discounter stores offering the products at reasonable rate due to price sensitivity of consumers can fuel the product demand in the coming years. Chinese consumers prefer liquid cleaners in new formats, such as liquid table and concentrated liquid detergents, over powder detergents. In India, adoption of washing machine-based laundry products has increased due to evolving retail sector and availability of premium and differentiated products across brands.
Developed regions, such as the U.S. and U.K., are likely to exhibit significant growth in terms of volume and revenue.
Some of the key companies operating in the laundry detergent market are Church & Dwight Co., Inc.; Henkel AG & Co. KGaA; Unilever; Proctor & Gamble; and The Colgate-Palmolive Company.
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