Laundry Care Market: Notable Developments & Geographical Outlook

 

As per Future Market Insights (FMI), the global laundry care market is estimated to reach a valuation of US$ 25 Bn — US$ 35 Bn in 2021. The market is poised to register growth at 5% CAGR through 2021–2031.

AttributeDetailsLaundry Care Market Estimated Size in 2021US$ 25 Billion — US$ 35 Billion2020–2021 (year-on-year growth)~2.5%Top Players Share in 2021~25%-35%Laundry Care Market Value sCAGR (2021–2031)~5%

Growing preference for liquid detergents because they clean delicate fabrics better without damaging them and offer enhanced compatibility with washing machines is expected to increase the sales.

Some of the top laundry care market players are introducing liquid detergents with plant-based ingredients in response to the surging demand for organic homecare products. On account of this, sales of laundry care products are expected to increase at 4% CAGR in terms of volume between 2021 and 2031.

Increasing adoption of advanced and automatic laundry machines which are compatible with detergent pods and liquid detergent also will improve the sales of liquid laundry detergents. Demand for sustainable and plant-based liquid detergents is rising, especially across India, China, and South Korea, which is expected to positively impact the growth in the market.

Historically, demand for laundry care products increased at 4% CAGR between 2016 and 2020. However, with unprecedented outbreak of COVID-19 and increasing awareness for personal hygiene, demand for organic liquid detergents and fabric softeners has burgeoned.

According to the report, emergence of e-commerce platforms and promotion of plant-based liquid detergents and laundry care products will continue accelerating the demand in the laundry care market.

Key Takeaways from FMI’s Laundry Care Market Study

  • Based on product type, the fabric softeners segment is poised to expand at over 5.6% CAGR 2021
  • In terms of source type, synthetic segment is expected to register growth at 5.1% CAGR during the forecast period
  • Sales of powder laundry care products are expected to reach US$ 38.5 Bn between 2021 and 2031
  • South Korea and Japan are expected to account for over 22% and 34% of global sales in 2021, respectively
  • India and China are expected to spearhead the growth of South and East Asia laundry care market, respectively during the forecast period

Competitive Landscape

As per FMI, top players are expected to account for over 25%-35% of global market share in 2021. Key players are focusing on collaboration with e-commerce and local vendors to increase their revenue.

Some of the key players are also introducing sustainable and plant-based laundry care products, targeting vegan consumers, to create lucrative revenues.

For instance, In September 2020, Woolite, a subsidiary of Reckitt Benckiser Group PLC, announced the launch of stain remover wipes which is made up of non-toxic ingredients and with eco-friendly packaging effective on all kinds of stain.

Some of the players operating in laundry care market profiled by FMI are Procter & Gamble Co., Unilever PLC, Colgate-Palmolive Company, Henkel AG & Co. KGaA, Reckitt Benckiser Group PLC, Amway Corporation, Kao Corporation, S.C. Johnson & Son Inc., LG Household & Health Care Ltd., Golrang Industrial Group, Lion Corporation, Church & Dwight Co., Inc. and Alicorp S.A.A. among others

Laundry Care Market by Category

Product Type:

  • Fabric Softeners
  • Laundry Detergents
  • Others

Distribution Channel:

  • Wholesaler/Distributors
  • Supermarket/Hypermarket
  • Convenience Stores
  • E-Commerce
  • Grocery Stores
  • Others

Source Type:

  • Synthetic
  • Organic
  • Others

Form Type:

  • Powder
  • Cake/Block
  • Liquid
  • Others

Region:

  • North America
  • Latin America
  • Western Europe
  • Eastern Europe
  • Asia Pacific excluding Japan
  • Middle East & Africa
  • Japan

Information Source:
https://www.futuremarketinsights.com/reports/laundry-care-market

Comments

Post a Comment

Popular posts from this blog

Healthy Fat-Free Snacks Market 2022 Outlook, Current and Future Industry Landscape Analysis 2031

Image
  Healthy Fat-Free Snacks Market Overview According to the latest research by Future Market Insights, during the years 2021-2031, the demand for healthy fat-free snacks is expected to expand steadily. Demand for healthy fat-free snacks will slowly rebound in the short-term period, with a promising long-term growth outlook. Health-conscious customers are driving demand for fat-free snacks. What is Driving Demand for Healthy Fat-free Snacks? Changing consumer demographics have enhanced the demand for a healthy fat-free snacks market as people nowadays want such snacking options that not only satisfy hunger but also provide health benefits such as a healthy heart, good cholesterol weight management and sugar control. Thus these crucial health benefits are projected to increase the healthy fat-free snacks market during the forecast period. Increasing lifestyle diseases is among the major reason driving demand for healthy fat-free snacks. Consumers have become conscious about their eati...
Read more

Neurointerventional Devices Market Witness a Spike in Growth Pace Recent Improvements in Pricing Models: FMI

  A new report by Future Market Insights (FMI) expects global   neurointerventional devices market   is expected to project a significant growth CAGR value of about 4.7% from 2022 to 2030. Since the past several years, the burden of neurological disorders has increased multifold. According to the National Center for Biotechnology Information (NCBI), the frequency of cerebral aneurysm is nearly 3.2%, with the prevalence being higher amongst women than men above 50 years of age. It is estimated that around 6.5 million people in the United States possess an unruptured brain aneurysm, while 30,000 suffer a brain aneurysm rupture every year. Based on these trends, it is unsurprising to observe the market being interspersed with the presence of several reputed manufacturers who constantly launch new products. In addition, rising prevalence of ischemic stroke is also boosting the neurointerventional devices market. Being non-invasive in nature, these devices increase chances of ...
Read more

Hyperbaric Oxygen Therapy Devices Market Witness a Spike in Growth Pace Recent Improvements in Pricing Models: FMI

  In 2022, it is anticipated that the market for devices used in hyperbaric oxygen therapy will be worth US$3.21 billion. The overall demand for   hyperbaric oxygen therapy devices   is anticipated to increase at a CAGR of 7.1% between 2022 and 2032, reaching approximately US$ 6.37 billion by 2032 due to the growing use of hyperbaric oxygen therapy in wound healing and the increasing number of athletes driving up demand for HBOT. The use of the hyperbaric oxygen therapy (HBOT) technique improves leukocyte performance, particularly at the site of a wound, and reduces the toxicity of cyanide and carbon monoxide (CO). One of the major factors anticipated to propel the market during the forecast period is the technology’s increasing acceptance on a global scale. The primary reason for the rise in demand for devices for hyperbaric oxygen therapy is the rising number of diabetic patients worldwide. As a result, the market will experience an upward trend over time. Additionally,...
Read more