Heavy Demand for Automatic Washing Machines to Propel Market
The rising necessity for washing machines in the residentialsector is a key factor driving the market. The growing demand for fullyautomatic washing machine owing to its user-friendliness and low timeconsumption time will subsequently aid the expansion of the market during theforecast period. The ability to both wash and whirl in fully automatic washingmachines along with being eco-friendly will promote its use, which, in turn,will foster the growth of the market. The evolvement from semi-automatic tofully automatic washing machine owing to its capacity to offer efficient andstain removal operations will have a positive impact on the market. The growingpopularity of automatic machines in the household and the residential sectorwill drive the market. Moreover, the increased spending on householdaccessories and machines will consequently boost the market in the foreseeablefuture. In addition, the introduction of innovative products by major brandswill spur opportunities for the market in the forthcoming years. For instance,Kao Corporation a Japanese chemical and cosmetics company announced the launchof concentrated liquid laundry detergent "Attack ZERO.” The newconcentrated liquid detergent is the first of Kao's exclusively designedproduct series formulated as its key ingredient.
The rising shift from powder detergent to liquid detergent owingto its formula to remove tough stains in one wash will spur demand for themarket, states Fortune Business Insights in a report, titled “Liquid LaundryDetergent Market Size, Share and Industry Analysis, By Application (Household,and Industrial and Institutional, {Laundry and Dry Cleaning Service, Hotel andOther Lodging, Healthcare, Textile Industry, and Others}), and RegionalForecast, 2020-2027”the market size stood at USD 21.25 billion in2019.
What does the Market Report Offer?
The market report offers an exhaustive study of several factorssuch as drivers, restraints, challenges, and opportunities that will affect thegrowth of the market in the forthcoming years. The report covers regionaldemographics that include qualitative and quantitative information about theregions that are further divided into nations that are contributing to thegrowth of the market between 2019 and 2026. Furthermore, the competitivelandscape has been discussed in-depth that include information of severalplayers operating in the market. Moreover, information on the adoption ofstrategies such as merger and acquisition, collaboration, partnerships, andjoint ventures by the companies that will drive the growth of the market hasbeen included during the projected horizon.
Regional Analysis:
Rapid Urbanization to Augment Growth in Asia Pacific
The North America market size stood at USD 6.94 Billion in 2019and is expected to grow rapidly during the forecast period. The growth in theregion is attributed to the surge in the hospitality and textile industries.The rising inclination towards a healthy lifestyle coupled with concernsregarding home care hygiene will accelerate the healthy growth of the market.The rising household spending will further influence growth in the region. AsiaPacific is predicted to dominate the market during the forecast period owing tothe increasing product awareness in the emerging nations. The rapidly evolvingindustries in the developing countries such as India and China will have atremendous impact on the market. The rapid urbanization and high demand forwashing machines will create lucrative opportunities for the market in theforeseeable future.
Browse Summary of This Research Report with Detailed Table ofContent: https://www.fortunebusinessinsights.com/liquid-laundry-detergent-market-102962
