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Global Household Care Market to Grow at a CAGR of 1.5% between 2019 and 2024

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"According to a new report by EMR titled, ‘Global Household Care Market Report and Forecast 2019-2024’, the global household care market reached a value of USD 115 billion in 2018. The global household care market is further expected to grow at a CAGR of 1.5% between 2019 and 2024 to attain a value of USD 126 billion by 2024."

The global household care market is significantly dependent on the global laundry detergent market. The healthy growth witnessed by the global laundry detergent market is aiding the growth of the global household care market. The household care market is being driven by the Asia Pacific market since it is one of the leading household care markets, accounting nearly half of the global laundry detergent industry. The household care market in the Asia Pacific is heavily influenced by India due to the rising penetration and demand for laundry wash products. Developing nations such as India and China are expected to be major markets in the household care industry in the coming years. Both countries are the leading consumers of household car products. The market in the two countries is being driven by the growing penetration of laundry detergents within the Asia Pacific region.

The global household care market is witnessing a rising demand for eco-friendly products. In order to meet the growing consumer demand, Procter & Gamble Company (NYSE: PG), a leading player in the market, launched Home Made Simple™, a new plant-based product line in 2018. The brand caters to the needs of the consumers by producing a wide range of care products like multi-purpose cleaners, laundry detergents, and fabric softeners. Another key player in the market, Clorox (NYSE: CLX), introduced Clorox® Disinfecting Bio Stain & Odour Remover in 2018. It helps in cleaning, disinfecting, and deodorizing surfaces and is effective in getting rid of bio-stains, including  blood and urine.

Market Analysis by Products and Regions:

Based on product types, the household care market is divided into hard surface cleaners, laundry detergents, toilet care, laundry additives, and dishwashing, among others.
The major regions in the global household care market are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Key Findings of the Report:

  • The global household care market growth is being aided by the growing demand and penetration of the products in developing economies.
  • Increased disposable income has led to an increase in the demand for washing machines, further aiding the growth. 
  • The consciousness, especially among the millennials, about health and hygiene is further supporting the growth of the household care market.
  • The inclination of people towards organic and eco-friendly products is driving the growth of the household care market.
  • The expansion of e-retailers, especially in developing countries, is providing a further push to the growth of the market.

Key Offerings of the Report:

  • The EMR report provides a detailed assessment of the global household care market 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 within the household care market.

The key players in the global household care market include Unilever, Reckitt Benckiser, Kao Corporation, The Procter & Gamble Company, SC Johnson, Henkel AG & Co. KGaA, Church & Dwight Co., Inc., The Clorox Company, and Colgate-Palmolive Company, among others. The report  by EMR gives an in-depth look into 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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"Global Household Care Market: By Products: Laundry Detergents, Laundry Additives, Dishwashing, Hard Surface Cleaners, Toilet Care; By Region: North America, Europe, Asia Pacific, Latin America, Middle East and Africa; Historical Production and Consumption (2014-2018); Production and Consumption Forecast (2019-2024); SWOT Analysis; Value Chain Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Manufacturing Process, Cost Analysis"

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