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Global Household Care Market to Grow at a CAGR of 1.5% between 2020 and 2025.

According to a new report by EMR titled, ‘Global Household Care Market Report and Forecast 2020-2025’, the global household care market reached a value of USD 116.73 billion in 2019. The global household care market is further expected to grow at a CAGR of 1.5% between 2020 and 2025 to attain a value of USD 127.63 billion by 2025.

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 (2015-2019) and (2020-2025).
  • The report also offers the historical (2015-2019) and forecast (2020-2025) 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.

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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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