Asia Pacific Household Care Market reached a value of USD 10 billion in 2023

The growth of the Asia Pacific household care market is being driven by the growth of the global laundry detergent market. In 2023, the global industry for laundry detergents rose to a value of nearly USD 71 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 2018-2023 period at the CAGR of 4.7%. The sector is further expected to grow in the forecast period of 2024-2032 and is anticipated to reach a value of USD 93 billion by 2032.

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 10  billion in 2020, 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.

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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 (2018-2023) and (2024-2032).
• The report also offers the historical (2018-2023) and forecast (2024-2032) 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.

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