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Latin America Household Care Market to be Aided by the Growth of Global Market, projected to grow at a CAGR of 1.5% between 2020 and 2025

According to a new report by EMR titled, ‘Latin America Household Care Market Report and Forecast 2020-2025’, the Latin America household care market is aided by the growth of the global household care market that attained USD 116.73 billion in 2019. The global 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 growth of the Latin America household care market is significantly supported by the growth of the region’s laundry detergent market, which reached a value of nearly USD 9 billion in 2019.In Latin America, laundry detergents find their primary application in the household sector, thus, further pushing the growth of the household care market in the region. The powder detergent is the most dominant form of detergent used in Latin America, accounting for 47% of the regional laundry detergent market.

With the economies of major regional markets in Latin America, like Brazil and Argentina, recovering from the economic fall in the recent years, major players are expressing renewed interest in the region by expanding their operations and product portfolios in the  region.  Leading players in the industry are also investing in expanding and launching sustainable and natural products in Latin America as a part of their corporate social responsibility goals and in response to the rising consumer demand for organic and eco-friendly products. Unilever (NYSE: UL), one of the leading players in the household care in the region, is launching a natural plant-based detergent in a completely recyclable pack as a part of its OMO brand. Other major players are also expanding their market in Latin America. The region accounts for 6% of the global net sales of Procter & Gamble Co (NYSE: PG), another leading player in the household care industry.

Market Analysis by Products and Regions:

  • Based on product types, the household care market can be divided as laundry detergents, laundry additives, dishwashing, hard surface cleaners, and toilet care, among others.
  • The major regional markets for the Latin America household care market are Brazil, Mexico, Colombia, and Argentina, among others.

Key Findings of the Report:

  • The rising awareness among people about health and hygiene to prevent diseases like cholera and typhoid, among others, is aiding the Latin America household care market growth.
  • The recovering economy of Latin American countries is further driving the market forward.
  • The expanding product portfolios in the growing markets of Latin America is a key factor in pushing forward the growth of the household care market in Latin America.
  • The varieties of products available along with innovations in products are pushing the market forward.

Key Offerings of the report:

  • The EMR report provides an overview of the Latin America household care market for the periods (2015-2019) and (2020-2025).
  • The report also offers the historical (2015-2019) and forecasted (2020-2025) markets for the household care product types and regions.

The major key players in the Latin America household care market includes Unilever, 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, capacity expansions, and plant turnarounds.

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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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