Global Laundry Detergents Market for is expected to reach a huge valuation over the forecast period owing to their demand across hospitality and residential sectors. Awareness of personal hygiene and focus of market players in launching new products can bolster market growth in the coming years. Preference for liquid over powder detergents can bode well for the market. Establishment of retail chains and supermarket stores and partnerships with market players can ensure a steady flow of products and high sales.
Laundry detergents are cleaning agents or chemicals used in eliminating stubborn stains. Sales of washing machines and the expansion of the hospitality sector are likely to warrant its demand globally. The global laundry detergents market report by Market Research Future (MRFR) analyzes the various dynamics such as drivers, challenges, trends, and opportunities for the period of 2016 to 2023 (forecast period). The COVID-19 pandemic and its impact on the industry growth are outlined in the report.
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But the presence of phosphates in detergent formulations which are harmful to the environment can pose a challenge to the market.
The Procter & Gamble Company, Unilever, Henkel AG & Company, KGaA, Kao Corporation, Method Products, pbc., Lion Corporation, Nirma Limited, RSPL Group, Church & Dwight Co., Inc., and others are key players of the Global Laundry Detergents Market.
Global Laundry Detergents Market has been segmented based on product type, and distribution channel.
By product type, the market has been classified as bars, powder, liquid, pods and others. The liquid segment accounted for the largest market share in 2020. It can exhibit a strong growth rate over the forecast period owing to its use in hotels, restaurants, and hospitals.
On the basis of distribution channel, the market has been divided into store-based and non-store-based. Store-based is further divided into hypermarket & supermarket, convenience store, and others. Non-store-based is also further segmented into e-commerce. The store-based segment is expected to rake in large revenues owing to the trustworthiness of supermarkets and hypermarkets. On the contrary, the non-store-based segment can score a high CAGR over the forecast period due to technological advances in ecommerce and preference for online shopping.
The global laundry detergents market has been studied with regard to four key regions—North America, Europe, Asia Pacific (APAC), and Rest-of-the world (RoW).
North America is expected to dominate the global laundry detergent market owing to aggressive marketing campaigns and launch of new products. Awareness of personal hygiene, presence of several players, change in lifestyles, and the growing population are major drivers of the regional market. Existence of public laundries in the U.S. and Canada can facilitate market growth. Packaging and formulation are new strategies employed by market players to gain the lead in the regional laundry detergents market.
APAC is anticipated to score the highest CAGR over the forecast period due to gravitation of consumers towards new products. Ecommerce channels can pave the way for laundry detergent manufacturers in meeting annual targets and expanding their consumer base. The channel provides convenience to the working class. The use of washing machines by a majority of consumers in the region can induce the need for laundry detergents. The use of detergents in various industrial sectors and the growth of the tourism industry can provide growth opportunities for the market.
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