Laundry Detergents Market: Current Analysis and Forecast (2022-2028)
Emphasis on into Product Type (Detergent Powder, Laundry Liquid, Fabric Softener, Others); Distribution Channel (Supermarkets/Hypermarket, Convenience Stores, Online Retail, Others); Region/Country.
Global Laundry Detergents Market is expected to grow at a significant rate of around 5% during the forecast period. 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. 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. For instance, in 2020, the country’s average expenditure on other household products increased by USD 79 to USD 536.17 per consumer unit when compared to the expenditure in 2019 which is USD 457.84. “The increasing awareness about the advantages of using liquid detergents and steadily rising disposable incomes are leading to high penetration of liquid detergents in households globally. Vendors are experimenting with fragrances, natural ingredients, and other ways to improve the effectiveness of their products
Also, the global laundry detergent market is uplifting on account of the rising number of households, growing population, increasing urbanization, innovative product launches, and growing penetration of automatic washing machines. As per the world bank, over 50% of the population lives in urban areas today. By 2045, the world’s urban population will increase by 1.5 times to 6 billion.
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, are some of the key players in the market. Several M&As along with partnerships have been undertaken by these players to facilitate customers with hi-tech and innovative products/technologies.
Insights Presented in the Report
“Amongst product type, detergent powder category to witness higher CAGR during the forecast period”
Based on product type, the market is segmented into Detergent Powder, Laundry Liquid, Fabric Softener, and Others. The powder segment grabbed the major market share and dominated the market in 2020. The detergent powder can be used in washing machines and while washing clothes by hand as well. Moreover, the other benefits such as cost-effectiveness, help in removing tough stains, etc., are contributing to the growth of this segment.
“Amongst distribution channels, the supermarket/hypermarket to hold a significant share in the market in 2020”
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 of internet penetrations is leading the online retail sector to grow at a robust CAGR.
“Asia Pacific to hold a significant share in the market”
In 2020, Asia Pacific held a significant share of the global laundry detergents market. A rise in the number of households coupled with the spurring awareness about health and hygiene is contributing to the growth of this segment. However, the North America region is expected to witness the highest CAGR during the forecast period.
Reasons to buy this report:
- The study includes market sizing and forecasting analysis validated by authenticated key industry experts.
- The report presents a quick review of overall industry performance at one glance.
- The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolio, expansion strategies, and recent developments.
- Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry.
- The study comprehensively covers the market across different segments.
- Deep dive regional level analysis of the industry.
Customization Options:
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Table of Contents
Research Methodology for the Laundry Detergents Market Analysis (2022-2028)
Analyzing the historical market, estimating the current market, and forecasting the future market of the global Laundry Detergents market were the three major steps undertaken to create and analyze the adoption of Laundry Detergents in major regions globally. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the global Laundry Detergents market. Post assumption and validation of market numbers through primary interviews, we employed a top-down/bottom-up approach to forecasting the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments of the industry pertains to. Detailed methodology is explained below:
Analysis of Historical Market Size
Step 1: In-Depth Study of Secondary Sources:
Detail secondary study was conducted to obtain the historical market size of the Laundry Detergents market through company internal sources such as annual reports & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.
Step 2: Market Segmentation:
After obtaining the historical market size of the Laundry Detergents market, we conducted a detailed secondary analysis to gather historical market insights and share for different segments & sub-segments for major regions. Major segments are included in the report as product type and distribution channel. Further country-level analyses were conducted to evaluate the overall adoption of testing models in that region.
Step 3: Factor Analysis:
After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of the Laundry Detergents market. Further, we conducted factor analysis using dependent and independent variables such as product type and distribution channel of Laundry Detergents. A thorough analysis was conducted for demand and supply-side scenarios considering top partnerships, mergers and acquisitions, business expansion, and product launches in the Laundry Detergents market across the globe.
Current Market Size Estimate & Forecast
Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the global Laundry Detergents market, and market shares of the segments. All the required percentage shares split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.
Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., the top-down/bottom-up approach were applied to arrive at the market forecast for 2027 for different segments and sub-segments across the major markets globally. The research methodology adopted to estimate the market size encompasses:
- The industry’s market size, in terms of revenue (USD) and the adoption rate of the Laundry Detergents market across the major markets domestically
- All percentage shares, splits, and breakdowns of market segments and sub-segments
- Key players in the global Laundry Detergents market in terms of products offered. Also, the growth strategies adopted by these players to compete in the fast-growing market
Market Size and Share Validation
Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.
Split of Primary Participants in Different Regions
Market Engineering
The data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers for each segment and sub-segment of the global Laundry Detergents market. Data was split into several segments & sub-segments post studying various parameters and trends in the product type and application in the global Laundry Detergents market.
The main objective of the Global Laundry Detergents Market Study
The current & future market trends of the global Laundry Detergents market were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments on the qualitative and quantitative analysis performed in the study. Current and future market trends determined the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit from a first-mover advantage. Other quantitative goals of the studies include:
- Analyze the current and forecast market size of the Laundry Detergents market in terms of value (USD). Also, analyze the current and forecast market size of different segments and sub-segments
- Segments in the study include areas of product type and application
- Define and analysis of the regulatory framework for the Laundry Detergents
- Analyze the value chain involved with the presence of various intermediaries, along with analyzing customer and competitor behaviors of the industry.
- Analyze the current and forecast market size of the Laundry Detergents market for the major region.
- Major countries of regions studied in the report include Asia Pacific, Europe, North America, and the Rest of the World.
- Company profiles of the Laundry Detergents market and the growth strategies adopted by the market players to sustain in the fast-growing market
- Deep dive regional level analysis of the industry
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