Laundry Detergents Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

Laundry Detergents Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

Global laundry detergents market is projected to grow at a CAGR of 2.88% during the forecast period.

Key Highlights

• Increasing preference for scented laundry care products and allergenic/ green products, and the development of new products is gaining consumer acceptance and accelerating the growth of the laundry care industry. Owing to this factor, vendors develop laundry care products with unique packaging, fragrance, quality, and price, which in turn, enable them to differentiate their products from their competitors.
• The laundry care market is led by the offline channels as the reach of household cleaning products through supermarkets/hypermarkets and convenience stores are high across the country. However, in the recent past, online spending by consumers has risen significantly, which, in turn, has boosted the online sales of home care products, including laundry care products.

Key Market TrendsRising Demand for Laundry Detergent Owing to Increased Household Expenditure

The growing importance of healthier lifestyles with rising concerns among individuals about health and hygienic living, free of germs, bacteria, dust, and dirt has led to rise in per capita spending on household cleaning products including laundry detergents. From the past few years, the fragrance is playing a vital role in household cleaning products as consumers are increasingly looking for products that offer strong pleasant odor, which, in turn, makes vendors to differentiate their products. In addition, factors such as an increase in household expenditure, growth in the real estate sector owing to growth in residential units, has increased the demand for laundry detergent products across the globe. Owing to these factors, vendors are leveraging online platforms optimally by selling their products through their website as well as by listing the products in the popular e-tailing websites to improve their visibility and reachability of products.

United States: One of the Prominent Country for Laundry Detergent Market

The adoption of a healthier lifestyle coupled with the increasing concern for hygiene has been one of the key drivers for the laundry detergents market in the United States over the past few years. Well-established real estate sector and household expenditure, growth in housing units are some of the factors increasing the sales of household cleaners in the United States. For instance, as per the ‘The World Bank Group’, the United State’s final consumption expenditure was USD 15.48 trillion in 2017. The growing demand for organic and eco-friendly laundry care products has a significant impact on the market. This encourages various vendors to offer organic and eco-friendly products. This demand is expected to magnify the revenue of the market. For instance: Vendors are continuously launching products with biodegradable ingredients such as natural washing soda, coconut oil & mineral-based surfactants, and plant-based enzymes.

Competitive Landscape

The global laundry detergent market faces high competition; the majority of the share is held by the leading players, including The Clorox Company, Procter & Gamble, Henkel AG, Unilever, Church & Dwight, and Reckitt Benckiser Group Plc. These players are focussing on online distribution channels for their online marketing and branding of their products in order to expand their geographic reach and increase their customer base

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support

Companies Mentioned

The Procter & Gamble Company
Unilever
The Clorox Company
Reckitt Benckiser Group plc.
Church & Dwight Co., Inc.
Alticor (Amway Corporation)
Colgate
Palmolive Company
Henkel AG & Co. KGaA

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