Valuation of laundry detergent market worth USD 98,139.7 million

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laundry detergent market

According to a new report, Laundry Detergent Market by Product Type, Application and Distribution Channel: Global Opportunity Analysis and Industry Forecast 2021-2030. The report offers an in-depth analysis of key growth strategies, drivers, opportunities, key segment, Porter’s Five Forces Analysis, and competitive landscape.

The global laundry detergent market size is expected to reach USD 98,139.7 million by 2027 at a CAGR of 4.8% from 2021 to 2030.

Laundry detergent is used for effective cleaning action on dirt and grease, and is widely used in washing machines. Generally, the components used in the manufacture of a laundry detergent usually include builders or water softeners, bleach, surfactants, enzymes, anti-soiling agents, optical brighteners, regulators foam, fragrances, dyes and corrosion inhibitors. Washing clothes is part of the daily routine in almost all home and commercial laundry services.

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The Liquid Laundry Detergent Market is expected to drive Asia-Pacific and LAMEA regions in the near future. This is attributed to the increase in disposable income coupled with the increasing penetration of washing machines in the region. Additionally, growing awareness in the use of different innovative detergent products such as gels, liquid and pod laundry detergents is expected to fuel the growth of the laundry detergent market over the forecast period.

The demand for laundry detergent is sustainably increasing across the globe owing to its regular usage across the globe. One of the major factors influencing the demand for laundry detergent is its easy availability. Laundry detergent is readily available worldwide through supermarkets, hypermarkets, e-commerce, convenience stores, grocery stores, and other types of distribution channels.

Growing consumer awareness about cleanliness and hygiene, increasing disposable income and desire to look presentable at all times are expected to drive the laundry detergent market growth over the forecast period .

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According to the laundry detergent market analysis, the laundry detergent market is segmented into product type, application, distribution channel and region. Based on product type, the market is categorized into powder, liquid, gel, and pods/tablets. By application, it is separated into industrial and domestic. Based on distribution channel, it is segmented into online, supermarket/hypermarket, convenience stores, independent retailers and others. By region, it is analyzed in North America (United States, Canada and Mexico), Europe (United Kingdom, 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).

Regionally, Asia-Pacific dominated the laundry detergent market in 2020 and is expected to maintain its dominance throughout the forecast period. The key factors driving the growth of the laundry detergent market in the region are high consumption of powder detergents by the majority of the population, growing consumer health and hygiene awareness and increasing disposable income .

The outbreak of COVID-19 pandemic has resulted in hampered production and disrupted supply chain across the globe, which has hampered the growth of the Laundry Detergent industry insignificantly. People have been forced to stay at home due to strict lockdown measures put in place by the government to curb the spread of the virus. Moreover, the government has also imposed a travel ban which has caused severe losses to the hospitality industry. This has resulted in a loss for hotels, lodges, institutions and other commercial spaces that offer laundry cleaning services.

However, people have become more concerned and conscious about cleanliness and hygiene, which has boosted the demand for detergent and boosted the growth of the laundry detergent market.

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Key Players profiled in this report include:

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

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This press release was published on openPR.

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