Laundry Detergent Market accounted for US$ 156.86 billion in 2020 and is estimated to be US$ 230.85 billion by 2030 and is anticipated to register a CAGR of 4.50%. Laundry detergent is a product that is used to clean filthy garments and linens. Builders or water softeners, bleach, surfactants, enzymes, dirt anti-deposition agents, optical brighteners, foam regulators, perfumes, colours, and corrosion inhibitors are all common ingredients in laundry detergent powder.
The report " Global Laundry Detergent Market, By Product (Powder Detergents, Liquid Detergents, Fabric Softeners, Detergent Tablets), by Application (Household and Industrial or Institutional) and By Region (North America, Europe, Asia Pacific, Latin America, Middle East, and Africa) - Trends, Analysis and Forecast till 2029’’
Key Highlights:
- In 2020, Henkel HNKG p.DE, a German consumer goods company, announced that it will offer new hygiene-related products in response to the coronavirus pandemic, following a significant increase in first-quarter sales of detergents, soap, and household cleaners.
- Tide Infinity was successfully launched into orbit on a Commercial Resupply Mission to the International Space Station on December 21st. The package contained a Tide recipe made specifically for outer space travel as a low-resource detergent.
Analyst View:
The increased demand for the product in North America is driving the global laundry detergents market. The industry's growth is being aided by the increased penetration of the product in new economies. The increased popularity of washing machines is also helping to propel the sector forward. The growing awareness of the need of hygiene is helping to move the business ahead. Rising urbanisation and disposable incomes, as well as rising consumerism, are propelling the industry forward. The surge in expenditure on apparel and homecare items is fueling the expansion of the domestic application segment of the laundry detergents business. Meanwhile, the expanding demand for laundry services, the developing hospitality business, and the growing industrial sector are driving the use of laundry detergents in the industrial sector.
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Key Market Insights from the report:
Global Laundry Detergent Market accounted for US$ 156.86 billion in 2020 and is estimated to be US$ 230.85 billion by 2030 and is anticipated to register a CAGR of 4.50%. The Global Laundry Detergent Market is segmented based on product, application and region.
- Based on Product, Global Laundry Detergent Market is segmented into Powder Detergents, Liquid Detergents, Fabric Softeners, Detergent Tablets.
- Based on Application, Global Laundry Detergent Market is segmented into Household and Industrial or Institutional.
- By Region, the Global Laundry Detergent Market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
Competitive Landscape & their strategies of Global Laundry Detergent Market:
Key players operating in the global laundry detergent market includes Unilever, Henkel AG & Co. KGaA, Church & Dwight Co., Inc., Procter & Gamble, Lion Corporation, Kao Corporation, Method Products, Inc., Reckitt Benckiser Group Plc, Carroll Company, and Church & Dwight Co., Inc.
The market provides detailed information regarding the industrial base, productivity, strengths, manufacturers, and recent trends which will help companies enlarge the businesses and promote financial growth. Furthermore, the report exhibits dynamic factors including segments, sub-segments, regional marketplaces, competition, dominant key players, and market forecasts. In addition, the market includes recent collaborations, mergers, acquisitions, and partnerships along with regulatory frameworks across different regions impacting the market trajectory. Recent technological advances and innovations influencing the global market are included in the report.
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