Liquid Laundry Detergent Market
Growth Factors of Liquid Laundry Detergent Market
The liquid laundry detergent market size was valued at USD 24.99 billion in 2023, and the market is now projected to grow from USD 26.52 billion in 2024 to USD 41.65 billion by 2032, exhibiting a CAGR of 5.8% during the forecast period of 2024-2032.
COVID- 19 pandemic has enormously affected the whole world. It affected many unexpected disruption and affected the industry. The pandemic caused in declined demand due to a disturbed supply chain, drop in sales of products, delivery lists. Travel bans imposed affected business relationship and partnership.
Rising inhabitants and growing tourism activities have been significant factors for the growing product demand. Also, the market improvement is ascribed to the growing usage of laundry amenities through emerging countries. Development in the hospitality sector, growing franchising prospects, augmented internet penetration, faster fiscal development, busy people's existences, and technical improvements in the laundry sector is projected to motivate the market development. The rising demand for on-demand laundry facilities due to the accessibility shall foster liquid laundry detergent market growth.
Suitability has developed as a crucial factor motivating the popularity of liquid detergents. Unlike usual powered detergents, liquid preparations offer stress-free handling and treating, removing the hassle of evaluating and scooping. Customers, specifically those leading busy routines, gain liquid detergents' ease and time-saving aids. The increasing demand for liquid laundry detergents is not inadequate to domestic customers but prolongs to commercial and recognized sectors. Industries such as hospitality, healthcare, and food services depend on on liquid detergents for their laundry need due to their productivity, efficiency, and comfort of use.
Comprehensive Analysis of Liquid Laundry Detergent Market
The market can be segmented in various ways, depending on the focus of analysis such as by application. Based on application, the market is segmented into household, and industrial & institutional.
North America region is dominating the liquid laundry detergent market share due to fit routine combined with the growing concern for home care hygiene.
The key players are enthusiastically contributing in planned events that are targeted at maintaining durable market position and growing market share by merger, partnerships and others. These players include Procter & Gamble (U.S.), Unilever (U.K.), Lion Corporation (Japan), KAO CORPORATION (Japan), Henkel AG & Co. KGaA (Germany), Church & Dwight Co., Inc. (U.S.), Reckitt Benckiser Group plc. (U.K.), Wipro Consumer Care and Lighting (India), Seventh Generation Inc. (U.S.), Guangzhou Blue Moon Industrial Co., Ltd. (China) these market players spending severely on research and development in order to arise with more new technology so that they can maintain and improve their existing market.
In May 2022, Procter & Gamble (P&G) expanded its liquid detergent business by launching a manufacturing facility in Hyderabad, India. The company invested USD 2.51 billion.
Segmentation Table
ATTRIBUTE DETAILS
Study Period 2019-2032
Base Year 2023
Estimated Year 2024
Forecast Period 2024-2032
Historical Period 2019-2022
Growth Rate CAGR of 5.8% from 2024 to 2032
Unit Value (USD Billion) and Volume (Kiloton)
Segmentation By Application
- Household
- Industrial & Institutional
- Laundry & Dry Cleaning Service
- Hotel & Other Lodging
- Healthcare
- Textile Industry
- Others
By Region
- North America (By Application)
- U.S. (By Application)
- Canada (By Application)
- Europe (By Application)
- Germany (By Application)
- U.K. (By Application)
- France (By Application)
- Italy (By Application)
- Spain (By Application)
- Russia & CIS (By Application)
- Rest of Europe (By Application)
- Asia Pacific (By Application)
- China (By Application)
- India (By Application)
- Japan (By Application)
- ASEAN (By Application)
- Rest of Asia Pacific (By Application)
- Latin America (By Application)
- Brazil (By Application)
- Mexico (By Application)
- Rest of Latin America (By Application)
- Middle East & Africa (By Application)
- GCC (By Application)
- South Africa (By Application)
- Rest of Middle East & Africa (By Application)
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