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Europe Household Care Market to be Aided by the Growth of the Global Market, Projected to Grow at a CAGR of 1.5% between 2021 and 2026

According to a new report by EMR titled, ‘Europe Household Care Market Report and Forecast 2021-2026’, the Europe household care market is aided by the growth of the global household care market, which reached a value of USD 116.73 billion in 2020. The global market is further expected to grow at a CAGR of 1.5% between 2021 and 2026 to attain a value of USD 127.63 billion by 2026.

Europe is a leading market for household care. The Europe household care market increased by 1.2% in 2017 since 2016. In the EU, the household care sector witnessed an estimated annual turnover of almost EUR 28.6 billion in 2017. Europe's total manufacturing output for household care was approximately USD 30 billion in 2018. Germany is one of the largest markets for household care within Europe. In 2018, the Germany household care market stood at USD 6.4 billion. Thus, the growth in the demand for household care products in Germany has further propelled the growth of the household care market in Europe.

The growing health awareness and hygiene consciousness is the major reason for the growth of the household care market in Europe. Since consumers in Europe are increasingly avoiding the use of harmful chemicals and asking for greater ingredients transparency, Unilever (NYSE: UL), a leading consumer goods company, has willingly disclosed its fragrance ingredients on its home care products like OMO and Comfort throughout Europe and the USA. Consumers are also increasingly becoming inclined towards sustainable and organic products. Thus, Procter and Gamble (NYSE: PG), another major player in the household care industry, announced their goal of reducing plastic use for packaging by increasing their use of recycled plastic. By using recycled plastic, P&G seeks to avoid the use of over 300,000 tons of virgin plastic, thus, promoting healthy and hygienic environment.

Market Analysis by Products and Regions:

  • The household care market can be divided on the basis of product types into laundry detergents, laundry additives, dishwashing, hard surface cleaners, and toilet care, among others.
  • The major regions for the Europe household care market are Germany, UK, France, Italy, and Spain, among others.

Key Findings of the Report:

  • Increasing awareness among people about health and hygiene is aiding the growth of the household care market in Europe.
  • The prospering economies of the countries in Europe is driving the growth of the household care market in Europe.
  • The growing middle-class population in Europe is also pushing the household care market forward.
  • The diversification of products along with innovations in products is propelling the market growth.

Key Offerings of the Report:

  • The EMR report provides an overview of the Europe household care market for the periods (2016-2020) and (2021-2026).
  • The report also offers the historical (2016-2020) and forecasted (2021-2026) markets for the product types and regions by value.

The major players in the Europe household care market includes Unilever, Reckitt Benckiser, 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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Expert Market Research (EMR) is a leading market research and business intelligence company, ensuring its clients remain at the vanguard of their industries by providing them with exhaustive and actionable market data through its syndicated and custom market reports, covering over 15 major industry domains. The company's expansive and ever-growing database of reports, which are constantly updated, includes reports from industry verticals like chemicals and materials, food and beverages, energy and mining, technology and media, consumer goods, pharmaceuticals, agriculture, and packaging.

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