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Latin America Laundry Detergents Market to be Aided by the Global Market Growth at a CAGR of 4.6% between 2021 and 2026.

According to a new report by EMR titled, ‘Latin America Laundry Detergents Market Report and Forecast 2021-2026’, the Latin America laundry detergents market attained a value of USD 4.7 billion in 2020, aided by the global market growth. The global laundry detergents market is further expected to grow at a CAGR of 4.6% in the forecast period of 2021-2026, to reach USD 93 billion by 2026.

The Latin America laundry detergents market is being aided by the rising expenditure on household care products due to growing hygiene awareness. Laundry detergents act as a cleaning agent to help remove dirt from fabrics or clothes. They come in powder, liquid, and other forms. The key players in the industry are constantly launching innovative products, keeping in mind the changing lifestyle of consumers and are focussing on providing them with products that are convenient and easy to use.

The laundry detergent market has shown great potential for growth in Latin America in the past with a constantly growing sales volume of detergent products due to rapid urbanization. The rising awareness about health and hygiene among people has raised the demand for laundry detergents in Latin America. Unilever (NYSE: UN) and Procter and Gamble (NYSE: PG) are the leading laundry detergents companies in the region. Unilever launched its state-of-the-art laundry detergents factory in 2014 at Palmira, Valle del Cauca, Colombia, along with a distribution complex, in a bid to capitalise on the growing demand for environmentally friendly laundry products in Colombia and other parts of Latin America. The Palmira factory integrates innovation in processing and production technology, making it a sustainable plant with an environmentally friendly design. Both Unilever and Procter and Gamble has witnessed significant growth in the Latin America region, particularly in their laundry care segment. Latin America accounted for 7% of the overall 2018 net sales of Procter and Gamble, with fabric and homecare being a significant contributing segment for the company.

Market Analysis by Forms, Types, Applications, and Regions:

  • Laundry detergents are divided into powder and liquid, among other forms.
  • Laundry detergents can be divided into enzymatic and non-enzymatic types.
  • Laundry detergents are used for household as well as industrial and institutional purposes.
  • Region-wise, the Latin America laundry detergents market can be divided into Brazil, Mexico, Argentina, and Colombia, among others.

Key Findings of the Report:

  • The rise in the middle-class population, along with the growing disposable income, is aiding the growth of the industry.
  • Increase in the demand for biodegradable and sustainable forms of laundry detergents due to rising environmental consciousness is further driving the market forward.
  • The growth of household and personal care industry is propelling the market forward.
  • The growing hygiene awareness in the emerging economies is providing further impetus to the market.
  • Easy solubility and convenience of laundry detergents, along with product diversification and innovations, are the key driving factors of the market.

Key Offerings of the Report:

  • The report by EMR offers a region-wise historical (2016-2020) and forecast (2021-2026) market information for the Latin America laundry detergent market.
  • The EMR report provides market information for the types, forms, and applications of laundry detergent in the global and regional markets for the periods (2016-2020) and (2021-2026).
  • The report offers an in-depth insight into the historical (2016-2020) and forecast (2021-2026) price trends for laundry detergents by its types. 
  • It evaluates the global trade data for the year 2018, examining the value and volume of the major importing as well as exporting countries.

The Procter & Gamble Company, Henkel AG & Company, KGaA, Church & Dwight Co., Inc, S. C. Johnson & Son, Inc., Unilever, Química Amparo Ltda, Colgate Palmolive Company, and Bonsucex Group, among others, are the major players in the Latin America laundry detergents market analysed by EMR. The report by EMR provides a detailed insight into the market share, capacity, and latest developments like plant turnarounds, expansions of capacity, and mergers and acquisitions of these key players.

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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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*We at Expert Market Research always thrive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.

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