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Global Laundry Care Market was Valued at US$ XX Bn in 2019 and it is Expected to Reach More than US$ 127.2 Bn by 2028, Likely to Grow with the CAGR of 5% During the Forecast Period.
The increasing demand for high-quality laundry care products including liquid detergents and fabric softeners among others is growing rapidly among customers. Therefore manufacturers are capitalizing on developing products with unique quality, packaging, technology, and price. This, in turn, enables the manufactures to distinguish their products from competitors. Thus, these factors are fuelling the demand of laundry care market. Additionally, increased focus towards the development of new products with innovative characteristics aids manufacturers in improving their product portfolio which acts as a key driving factor to the laundry care market growth during the forecast period. Furthermore, the growing concern among customers for environmental issues such as water pollution due to the usage of laundry care products is infusing the demand for eco-friendly products at a record pace. Thus, encouraging the manufacturers to develop and launch environmentally friendly products, which is expected to impact the growth of the laundry care market.
Laundry care markets one of the key components is the packaging. Organizations are in focusing on developing innovative tools for packaging, due to the issues of handling of laundry care products by children. Laundry care products comprise of various harmful chemical elements that are harmful for consumption. Thus, organizations are implementing innovative and safe packaging for their consumers.
The global Laundry Care market on the basis of product type segment is bifurcated into detergent, fabric softener and others. The geography segment is categorized into Asia-pacific, North America, Latin America, Europe, Middle East and Africa (MEA).
As Perform, Powdered Detergent Is Expected To Dominate The Market Owing To The Convenience Of Use.
On the basis of form, the laundry care market is further classified into powder, block, liquid, and others. The powdered segment dominates the market with more than 25% of the market share. This is due to the increased usage and penetration of powdered detergent products in the Asia Pacific region for laundry care.
In contrast, the Liquid detergent segment is expected to witness the highest growth during the forecast period. This is due to the benefits offered by liquid detergent and its effect on cleaning supported by the quick and effective results have made it popular amongst the consumers. This correspondingly affects the global demand for powdered detergents.
By The Sales Channel, The Retail Segment Is Estimated To Dominate The Laundry Care Market
On the basis of the sales channel, the global laundry care market is bifurcated into wholesale, hypermarket/supermarket, convenience store, e-commerce, retail, and others. Amongst these, the retail segment dominates the market and accounted for the major revenue share. This is due to large sales in the segment caused by the preference of customers and accessibility to buy products among others.
On the other hand, the e-commerce segment is expected to witness the highest growth. This can be associated with the changing consumer behaviour as they like to research the products online and then make the purchasing decision for every product including laundry care products.
Asia Pacific Region To Dominate The Overall Laundry Care Market In Terms Of Revenue Share.
Asia Pacific region is the largest laundry care market and represents US$ XX Bn in terms of market share and is expected to register a CAGR of XX% during the forecast period. It is contributing to the rising manufacturing activities in the developing nations such as China and India and others. Additionally, the rising purchasing power and growth in the number of the working population in the region are further fueling the market growth in the region.
On the contrary, the Asia Pacific region is trailed by North America and accounts for more than 20% of the market share. This growth can be associated with the rising sales of laundry care products in the region.
Procter & Gamble Co., Unilever PLC, Guangzhou Liby Enterprise Group Co., Ltd., Henkel AG & Co. KGaA, Colgate-Palmolive Company, Amway Corporation, Fabrica de Jabon La Corona, SA de CV, Reckitt Benckiser Group PLC, Kao Corporation, RSPL Limited, Nice Group Co., Ltd., LG Household & Health Care Ltd., and Church & Dwight Co., Inc. are few of the key players in the global Laundry Care market.
Segmentation of Global Laundry Care Market
Laundry Care Market by Product Type
- Fabric Softener
Laundry Care Market by Nature
Laundry Care Market by Form
Laundry Care Market by Sales Channel
- Convenience Store
Laundry Care Market by Region
- North America
- South America
- Middle East & Africa