Feb 8, 2022   SOURCE: BusinessWire

Global Laundry Detergent Market (2021 to 2030) - by Product Type, Application, Distribution Channel and Region - ResearchAndMarkets.com

The "Laundry Detergent Market by Product Type, Application, and Distribution Channel: Global Opportunity Analysis and Industry Forecast 2021-2030" report has been added to ResearchAndMarkets.com's offering.

The global laundry detergent market size was valued at $61,711.0 million in 2020, and is estimated to reach $98,139.7 million by 2030, registering a CAGR of 4.8% from 2021 to 2030.

Laundry detergents are complex mixture of surfactants used for effective cleaning action on dirt and grease. Liquid detergents helps in washing process by reducing the surface tension of water. Used for washing laundry, laundry detergents are available in extensive fragrance and packaging format. Furthermore, natural or organic laundry detergents are gaining wide traction amongst health conscious consumers. In addition, optimized supply chain, increasing penetration of retail sales channels and lucrative offers and discounts offered have further narrowed the bridge between the consumers and the product.

Surge in the penetration of automatic washing machines have significantly contributed to the growth of the laundry detergents in both the developing as well as developed markets. According to Europa, more than 14 million washing machines were sold in 2018. According to the Census Bureau, around 85% of the U.S. households used washing machines in 2016. Furthermore, the rise in consumer awareness toward the product, extensive marketing and advertising by leading brands, and shift in consumer preference for liquid and pods laundry detergents have augmented the demand from the household segment.

The laundry detergent market is segmented into product type, application, distribution channel, and region. On the basis of product type, the market is categorized into powder, liquid, gel, and pods/tablets. By application, it is segregated into industrial and household. Based on the distribution channel, it is segmented into online, supermarket/hypermarket, convenience stores, independent retailers, and others.

Region wise, it is analyzed across North America (the U.S., Canada, and Mexico), Europe (the UK, Germany, France, Italy, Spain, and rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Australia, and rest of Asia-Pacific), and LAMEA (Brazil, Argentina, South Africa, Saudi Arabia, and rest of LAMEA).

Key Benefits

  • The report provides a quantitative analysis of the current market trends, estimations, and dynamics of the market size from 2020 to 2030 to identify the prevailing opportunities.
  • Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders to make profit-oriented business decisions and strengthen their supplier-buyer network.
  • In-depth analysis and the market size and segmentation assist to determine the prevailing laundry detergent market opportunities.
  • The major countries in each region are mapped according to their revenue contribution to the market.
  • The market player positioning segment facilitates benchmarking and provides a clear understanding of the present position of the market players in the laundry detergent industry.

Market Dynamics

Drivers

  • Rise in consumer inclination toward healthy lifestyle coupled with increase in purchasing power
  • Growing preference for liquid laundry detergent
  • Continuous product innovation

Restraints

  • High prices of liquid detergents
  • Availability of counterfeit products

Opportunities

  • Sustainable product development
  • Opportunities in unpenetrated and under penetrated developing countries

Companies Mentioned

  • BASF SE
  • Clariant AG
  • Croda International
  • E.I. du Pont de Nemours
  • Company
  • Henkel AG & Co
  • KGaA Kao Corporation
  • Procter & Gamble
  • The Dow Chemical Company
  • Unger Fabrikker AS
  • Unilever Plc

For more information about this report visit https://www.researchandmarkets.com/r/14nqv9