According to a new report published by UnivDatos Markets Insights, the Laundry Detergents Market is expected to grow at a CAGR of around 5% from 2022-2028.
According to a new report published by UnivDatos Markets Insights, the Laundry Detergents Market is expected to grow at a CAGR of around 5% from 2022-2028. The analysis has been segmented into Product Type (Detergent Powder, Laundry Liquid, Fabric Softener, Others); Distribution Channel (Supermarkets/Hypermarket, Convenience Stores, Online Retail, Others); Region/Country.
The Laundry Detergents market report has been aggregated by collecting informative data on various dynamics such as market drivers, restraints, and opportunities. This innovative report makes use of several analyses to get a closer outlook on the Laundry Detergents market. The Laundry Detergents market report offers a detailed analysis of the latest industry developments and trending factors in the market that are influencing the market growth. Furthermore, this statistical market research repository examines and estimates the Laundry Detergents market at the global and regional levels.
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Market Overview
The factors influencing the growth of the laundry detergent market include a growing population, increasing urbanization, innovative product launches, growing penetration of automatic washing machines, and rising consumer awareness regarding hygiene. The rising marketing activities by the key market players led to increased awareness regarding the laundry detergent products such as gels, pods, and liquids among consumers. Moreover, Along with properties of powerful stain removers, laundry detergents are now being formulated for conditioning of clothes as well, imparting exotic fragrances to the clothes. Furthermore, engaged stakeholders in the industry are ramping up expenditure on promotions and advertisements to expand product knowledge among the new target audience, which are mainly middle-class people. As a result, laundry detergent manufacturers and retailers have already begun to reshape their marketing strategies to cater to growing demands. In parallel, prominent brands are extensively focusing on their global, digital, and social presence along with on-shelf presence.
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The Laundry Detergents Market is expected to grow at a steady rate of around 5% owing to increasing demand for high-quality products for hygiene. Moreover, the rising prominence of e-commerce is expected to be the key factor driving product growth, especially among the working-class due to easy accessibility and convenience. The e-commerce platform is largely dominated by companies such as Amazon, Target, and Walgreen. It is expected e-commerce is emerging as the fastest-rising distribution channel.
Some of the major players operating in the market include 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, Nirma, Falcon Detergent.
COVID-19 Impact
Globally, as an impact of COVID-19, the demand for household care and laundry products has witnessed a greater drift during the pandemic, this is due to consumer’s rising awareness regarding cleaning and disinfecting their homes and clothes with an aim to protect themselves and their families from the novel coronavirus. The pandemic did not had severe effects on the laundry detergent market, as people become more conscious about cleanliness and hygiene due to the rapid spread of the COVID-19 virus. . The outbreak of the COVID-19 pandemic resulted in a worldwide lockdown; thereby, halting the production of the laundry detergents and disrupting the supply chain. However, the pandemic did not have severe effects on the laundry detergent market, as people become more conscious about cleanliness and hygiene due to the rapid spread of the COVID-19 virus.
The global Laundry Detergents market report is studied thoroughly with several aspects that would help stakeholders in making their decisions more curated.
· Based on product type, the market is fragmented into detergent powder, laundry liquid, fabric softener, and others. The detergent powder segment grabbed the major market share and dominated the market in 2020. When calculating the cost per load, powder detergent is generally the more economical option in comparison to liquid detergent. Its lighter weight makes it less expensive to transport and often easier to manufacture in comparison to liquid detergent, making it cheaper to purchase. However, the liquid detergent works better for getting a more thorough clean in untreated hard water. Its ingredients aren’t as reactive as the minerals most commonly present in hard water, therefore making it more resistant to its effects.
· On the basis of distribution channel, the market is categorized into Supermarkets/hypermarkets, Convenience Stores, Online Retail, and Others. Among these, the supermarket/hypermarket segment grabbed the major market share and dominated the market in 2020. The availability of numerous brands under one roof is one of the prominent reasons contributing to the market growth of this segment. However, the spurring internet penetrations is leading the online retail sector to grow at a robust CAGR.
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Laundry Detergents Market Geographical Segmentation Includes:
· North America (United States, Canada, and Rest of North America)
· Europe (Germany, United Kingdom, Spain, Italy, France, and the Rest of Europe)
· Asia-Pacific (China, Japan, India, and the Rest of Asia-Pacific)
· Rest of the World
APAC is anticipated to grow at a substantial CAGR during the forecast period. The rising population in countries such as China and Japan are one of the prominent reasons which is driving the demand for laundry detergent in APAC. In 2019, China was the leading exporter of the product by volume, followed by Belgium, Poland, and the United States of America. Moreover, growing industrial applications such as tourism and hospitality are also aiding the laundry detergents industry growth in the Asia Pacific. Furthermore, the rising penetration of washing machines in the emerging economies of the Asia Pacific region is also expected to drive regional market growth.
The major players targeting the market include
· 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
· Nirma
· Falcon Detergent
Competitive Landscape
The degree of competition among prominent global companies has been elaborated by analyzing several leading key players operating worldwide. The specialist team of research analysts sheds light on various traits such as global market competition, market share, most recent industry advancements, innovative product launches, partnerships, mergers, or acquisitions by leading companies in the Laundry Detergents market. The major players have been analyzed by using research methodologies for getting insight views on global competition.
Key questions resolved through this analytical market research report include:
• What are the latest trends, new patterns, and technological advancements in the Laundry Detergents market?
• Which factors are influencing the Laundry Detergents market over the forecast period?
• What are the global challenges, threats, and risks in the Laundry Detergents market?
• Which factors are propelling and restraining the Laundry Detergents market?
• What are the demanding global regions of the Laundry Detergents market?
• What will be the global market size in the upcoming years?
• What are the crucial market acquisition strategies and policies applied by global companies?
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