The global liquidlaundry detergent market size size is predicted to reach USD 33.24 billionby 2027, 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” themarket size stood at USD 21.25 billion in 2019.
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Market Driver:
Heavy Demand for Automatic WashingMachines 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 lowtimeconsumption time will subsequently aidthe expansion of the market during the forecast period. The ability to bothwash and whirl in fully automatic washing machines along with beingeco-friendly will promote its use, which, in turn, will foster the growth ofthe market. The evolvement from semi-automatic to fully automatic washingmachine owing to its capacity to offer efficient and stain removal operationswill have a positive impact on the market. The growing popularity of automaticmachines in the household and the residential sector will drive the market.Moreover, the increased spending on household accessories and machines willconsequently boost the market in the foreseeable future. In addition, theintroduction of innovative products by major brands will spur opportunities forthe market in the forthcoming years. For instance, Kao Corporation a Japanese chemical and cosmetics companyannounced the launch of concentrated liquid laundry detergent "AttackZERO.” The new concentrated liquid detergent is the first of Kao's exclusivelydesigned product series formulated as its key ingredient.
Regional Analysis:
Rapid Urbanization to Augment Growthin Asia Pacific
The NorthAmerica market size stood at USD 6.94 Billion in 2019 and is expected to growrapidly during the forecast period. The growth in the region is attributed tothe surge in the hospitality andtextile industries. The rising inclination towards a healthy lifestyle coupledwith concerns regarding home care hygiene will accelerate the healthy growth ofthe market. 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. The rapidlyevolving industries in the developing countries such as India and China willhave a tremendous impact on the market. The rapid urbanization and high demandfor washing machines will create lucrative opportunities for the market in theforeseeable future.
Key Development:
September 2018: DuPont IndustrialBiosciences, a leader in biotechnology introduced PREFERENZ, a detergent Linefor liquid laundry. The company plans to enhance its enzyme portfolio to thenext level by launching PREFERENZ P 300, including several PREFERENZ products,as well as EFFECTENZ and REVITALENZ.
The Report Lists the Main Companies in the LiquidLaundry 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.)
· ReckittBenckiser Group plc (U.K.)
· Wipro Consumer Care and Lighting (India)
· Seventh Generation Inc. (U.S.)
· Guangzhou Blue Moon Industrial Co., Ltd. (China)
· Other Key Players
Information Source:
https://www.fortunebusinessinsights.com/liquid-laundry-detergent-market-102962
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