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Asia Pacific Household Care Market to be Aided by the Growth of Global Household Care Market, Projected to Grow at a CAGR of 1.5% between 2019 and 2024

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"According to a new report by EMR titled, ‘Asia Pacific Household Care Market Report and Forecast 2019-2024’, the Asia Pacific household care market is aided by the growth of the global household care industry, which attained a value of USD 115 billion in 2018. The global household care industry is further projected to grow at a CAGR of 1.5% between 2019 and 2024 to reach a value of USD 126 billion by 2024."

The growth of the Asia Pacific household care market is being driven by the growth of the global laundry detergent market. In 2018, the global industry for laundry detergents rose to a value of nearly USD 68 billion. The increased penetration of washing machines and technological developments in the developing economies have contributed significantly to the growth of the global laundry detergents industry in the 2014-2018 period at the CAGR of 4.7%. The sector is further expected to grow in the forecast period of 2019-2024 and is anticipated to reach a value of USD 89 billion by 2024.

The Asia Pacific household care market is widely affected by the growth of the household care industries in two of its major regional markets, India and China. The Asia Pacific household care market is especially impacted by the growth of the demand for laundry detergents in India. The India household care market, which reached a value of nearly USD 9  billion in 2018, is dominated by its laundry detergents segment, which accounts for over 60% of the country’s household care market. In China, the growing disposable income of people is aiding the growth of the household care market. China is a leading consumer of household care products and is projected to be a major producer of these products in the coming years. The sales of household care products by leading players like Unilever (NYSE: UN) and The Procter & Gamble Company (NYSE: PG) has witnessed a healthy increase over the recent years in China due to the rising penetration of household electronic and goods in the country.

Market Analysis by Products and Regions:

  • The household care market is divided based on product types into laundry additives, laundry detergents, hard surface cleaners, dishwashing,  and toilet care, among others.
  • The major regional household care market in the  Asia Pacific region are China, Japan, India, and Korea, among others.

Key Findings of the Report:

  • The rapid urbanisation in the Asia Pacific region is a major driving factor for the Asia Pacific household care market.
  • The growing concern about health and hygiene in countries is further promoting the growth of the household care market.
  • The introduction of innovative products in the Asia Pacific region is pushing the market forward.
  • The growing demand for washing machines within India is also driving the industry growth in the region.
  • The rising economy of India is another key driver of the growing household care market in the Asia Pacific region.
  • The middle and high-income classes in the region are, especially driving the growth of the value-added product section.

Key Offerings of the Report:

  • The EMR report provides an overview of the Asia Pacific and global household care markets for the periods (2014-2018) and (2019-2024).
  • The report also offers the historical (2014-2018) and forecast (2019-2024) markets for the product types and regional markets of household care in the Asia Pacific.

The key players in the Asia Pacific household care include Unilever, Reckitt Benckiser, Kao Corporation, The Procter & Gamble Company, Henkel AG & Co. KGaA, The Clorox Company, SC Johnson, Church & Dwight Co., Inc., and Colgate-Palmolive Company, among others. The comprehensive report covers their market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions.

About Us:

EMR is a leading business intelligence firm, providing custom and syndicated market reports along with consultancy services for our clients. We serve a wide client base ranging from Fortune 1000 companies to small and medium enterprises. Our reports cover over 100 industries across established and emerging markets researched by our skilled analysts who track the latest economic, demographic, trade and market data globally.

At EMR, we tailor our approach according to our clients’ needs and preferences, providing them with valuable, actionable and up-to-date insights into the market, thus, helping them realize their optimum growth potential. We offer market intelligence across a range of industry verticals which include Pharmaceuticals, Food and Beverage, Technology, Retail, Chemical and Materials, Energy and Mining, Packaging and Agriculture.

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"Asia Pacific Household Care Market: By Products: Laundry Detergents, Laundry Additives, Dishwashing, Hard Surface Cleaners, Toilet Care, Others; By Country: China, India, Japan, Others; Historical Production and Consumption (2014-2018); Production and Consumption Forecast (2019-2024); SWOT Analysis: Value Chain Analysis: Porter’s Five Forces Analysis: Competitive Landscape: News and Developments: Manufacturing Process: Cost Analysis"

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