Pune, 15, Dec, 2022: The report published by Maximize Market Research on the Laundry Detergent Market covers an extensive regional analysis and competitive landscape. Over the forecast period, Maximize Market Research expects the market to grow from $150.92 billion in 2021 to $242.36 billion in 2029, at a CAGR of 6.1%.
Laundry Detergent Market Scope and Research Methodology
In the report, market segments are analysed based on geography, product, distribution channel, and application. Information was provided by market participants and regions (North America, Asia Pacific, Europe, the Middle East, Africa, and South America). This market study on laundry detergents provides data on market size, category market growths, application niches and dominance, product approvals, product launches, import-export analysis, production analysis, value chain optimization, market share, the impact of domestic and regional market participants, regulatory changes, and more. The competitive environment for laundry detergents takes into account the major companies in the market’s revenue, financial condition, portfolio, adoption of technology, mergers and acquisitions, joint ventures, and strategic alliances, as well as their local market shares.
A combination of primary and secondary sources were used to gather the data. The size of the market and how various segments evaluated it were both validated using the bottom-up methodology. The primary study methodologies included public surveys, questionnaire distribution, and phone calls to business owners, significant industry participants, and marketing experts. To make sure that the inferences were as trustworthy as possible, secondary data was meticulously assembled from a range of well-chosen sources. This also comprises paid databases, official databases from various organisations and government websites, trade journals, white papers, annual reports, and product announcements from manufacturers and suppliers in the sector.
SWOT analysis was conducted to identify the strengths and weaknesses of the laundry detergent market, while PESTLE was employed to understand the potential impact of the micro-economic factors affecting the laundry detergent market.
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Laundry Detergent Market Overview
Laundry detergents are becoming more and more popular nowadays since they may be automatically dispensed into the washing machine, give materials softness, antistatic properties, and resilience, are kind to eyes and skin, and have good water dispersibility. Traditionally, laundry detergent has been a solid that is powdered or granular, but with time, the popularity of liquid detergents has grown, and today, the use of liquid detergent is on par with or even exceeds that of solid detergent.
Laundry detergent is a kind of detergent used to clean laundry. In addition to liquid, laundry detergent is also produced as a powder. A small amount of the cleaning agent, which is necessary for the solvent to perform its job, is added to the solvent in order to improve cleaning. These detergents soften hydrophobic stains and prevent them from reattaching to clothing.
Laundry Detergent Market Dynamics
The per capita cost of laundry detergents is rising as people’s concerns about living a healthy, sanitary existence free of bacteria, dust, and grime and the significance of leading a healthier lifestyle rise. The market’s demand for laundry detergent is being driven by these elements. In household cleaning goods, fragrances play a significant role because consumers are increasingly seeking items with potent and alluring odors. Thanks to reasons including rising household expenditure and the growth of the real estate market as a result of the rise in the number of dwelling units, demand for detergent goods is also rising globally. These variables are causing the market to grow.
The use of premium detergents is rising as consumers demand water-saving, high-efficiency appliances. As consumers maintain this trend, detergent manufacturers are developing new items for deep and cold water cleaning. These elements are driving up demand for washing detergent. Market expansion is being slowed down by fluctuating raw material prices and stringent regulations. Due to the fact that most detergents are composed of petroleum, they heavily rely on the unstable oil market. As a result, manufacturers are looking for suitable, low-cost substitutes for natural raw materials. The market growth of laundry detergent is being constrained by these factors.
Laundry Detergent Market Regional Insights
The Asia Pacific region dominated the laundry detergent market in 2021. The market is growing as a result of rising competition and the growing popularity of local brands. Thanks to reasons including growing urban populations, rising disposable incomes, and ease of financing, washing machines are no longer considered a luxury but rather a necessity in modern society. These elements are fueling the segment’s demand in the laundry detergent market.
The North American region is expected to grow through the forecast period. Growing interest in cleanliness and the adoption of a healthy lifestyle are two major factors influencing market growth. The region’s market for household cleaners is being driven by a number of factors, including the established real estate sector, household expenditures, and unit growth.
Laundry Detergent Market Segmentation
- Powder Detergents
- Liquid Detergents
- Fabric Softeners
By Distribution Channel:
Laundry Detergent Market Key Manufacturers:
- Method Products
- Kao Corporation
- Lion Corporation
- The Procter & Gamble Company
- The Clorox Company
- Reckitt Benckiser Group plc.
- Church & Dwight Co., Inc.
- Alticor (Amway Corporation)
- Colgate-Palmolive Company
- Henkel AG & Co. KGaA
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Key questions answered in the Laundry Detergent Market are:
- What is Laundry Detergent?
- What are the key factors driving the growth of Laundry Detergent market?
- What is the growth rate of Laundry Detergent Market for the forecast years?
- What is the nature of competition in Laundry Detergent industry in developed and developing economies?
- Who are the key players in the Laundry Detergent Market?
- Who are the market leaders in Laundry Detergent in Europe?
- Who are the market leaders in Laundry Detergent in USA and Canada?
- Who are the market leaders in Laundry Detergent in India, China, Japan and South Korea?
- Who held the largest market share in Laundry Detergent Market?
- What are the factors for the growth of Asia-Pacific region in Laundry Detergent Market?
- Market Share, Size & Forecast by Revenue | 2022−2029
- Market Dynamics – Growth Drivers, Restraints, Investment Opportunities, and Key Trends
- Market Segmentation – A detailed analysis by Product, Distribution Channel, Application, and Region.
- Competitive Landscape – Top Key Vendors and Other Prominent Vendors
Maximize Market Research is leading research firm, has also published the following reports:
Dishwashing Detergent Market: The dish washing detergent market size is expected to reach USD 12.69 billion by 2029, at a CAGR of 4.6 percent during the forecast period. The high spread of the internet across the globe and the shift in consumer preferences to buy dishwashing detergent products online are increasing the growth of the dishwashing detergent market.
Liquid Detergent Market: The Liquid Detergent Market size is expected to reach USD 43.26 billion by 2029, with a CAGR of 4.28 percent during the forecast period. An increase in usage of the washing machine is driving the market’s growth.
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