The global liquidlaundry detergent market statistics is predicted to reach USD 33.24 billion by2027, exhibiting a CAGR of 5.8% during the forecast period. The rising shiftfrom powder detergent to liquid detergent owing to its formula to remove toughstains in one wash will spur demand for the market, states Fortune BusinessInsights in a report, titled “Liquid Laundry Detergent Market Size, Share &Industry Analysis, By Application (Household, and Industrial &Institutional, {Laundry & Dry Cleaning Service, Hotel & Other Lodging,Healthcare, Textile Industry, and Others}), and Regional Forecast, 2020-2027”the market size stood at USD 21.25 billion in 2019.
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Regional Analysis:
Rapid Urbanization to Augment Growthin Asia Pacific
The North America marketsize stood at USD 6.94 Billion in 2019 and is expected to grow rapidly duringthe forecast period. The growth in the region is attributed to the surge in the hospitality and textileindustries. The rising inclination towards a healthy lifestyle coupled withconcerns regarding home care hygiene will accelerate the healthy growth of themarket. The rising household spending will further influence growth in theregion. Asia Pacific is predicted to dominate the market during the forecastperiod owing to the increasing product awareness in the emerging nations. Therapidly evolving industries in the developing countries such as India and Chinawill have a tremendous impact on the market. The rapid urbanization and highdemand for washing machines will create lucrative opportunities for the marketin the foreseeable future.
Market Driver:
Heavy Demand for Automatic WashingMachines to Propel Market
The rising necessity for washing machines in the residential sector is akey factor driving the market. The growing demand for fully automatic washingmachine owing to its user-friendliness and lowtime consumption time will subsequently aid the expansion ofthe market during the forecast period. The ability to both wash and whirl infully automatic washing machines along with being eco-friendly will promote itsuse, which, in turn, will foster the growth of the market. The evolvement fromsemi-automatic to fully automatic washing machine owing to its capacity tooffer efficient and stain removal operations will have a positive impact on themarket. The growing popularity of automatic machines in the household and theresidential sector will drive the market. Moreover, the increased spending onhousehold accessories and machines will consequently boost the market in theforeseeable future. In addition, the introduction of innovative products bymajor brands will spur opportunities for the market in the forthcoming years.For instance, KaoCorporation a Japanese chemical andcosmetics company announced the launch of concentrated liquid laundrydetergent "Attack ZERO.” The new concentrated liquid detergent is thefirst of Kao's exclusively designed product series formulated as its keyingredient.
Regional Analysis:
Rapid Urbanization to Augment Growthin Asia Pacific
The North America marketsize stood at USD 6.94 Billion in 2019 and is expected to grow rapidly duringthe forecast period. The growth in the region is attributed to the surge in the hospitality and textileindustries. The rising inclination towards a healthy lifestyle coupled withconcerns regarding home care hygiene will accelerate the healthy growth of themarket. The rising household spending will further influence growth in theregion. Asia Pacific is predicted to dominate the market during the forecastperiod owing to the increasing product awareness in the emerging nations. Therapidly evolving industries in the developing countries such as India and Chinawill have a tremendous impact on the market. The rapid urbanization and high demandfor washing machines will create lucrative opportunities for the market in theforeseeable future.
KeyDevelopment:
September 2018: DuPont Industrial Biosciences, aleader in biotechnology introduced PREFERENZ, a detergent Line for liquidlaundry. The company plans to enhance its enzyme portfolio to the next level bylaunching PREFERENZ P 300, including several PREFERENZ products, as well asEFFECTENZ and REVITALENZ.
TheReport Lists the Main Companies in the Liquid Laundry Detergent Market:
· 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 IndustrialCo., Ltd. (China)
· Other Key Players
Information Source:
https://www.fortunebusinessinsights.com/liquid-laundry-detergent-market-102962
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