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Global Laundry Detergents Market to Grow at a CAGR of about 4.6% between 2021 and 2026

According to a new report by EMR titled, ‘Global Laundry Detergents Market Report and Forecast 2021-2026', the global laundry detergents market reached a value of almost USD 71.13 billion in 2020. The market is further expected to grow at a CAGR of 4.6% in the forecast period of 2021-2026, to attain USD 93.16 billion in 2026.

The global laundry detergents market has a strong demand due to the rising health and hygiene awareness among the consumers. Laundry detergents are cleaning agents which help remove dirt from the fabrics. They play a major role in the hygiene and cleanliness of an individual. There is a range of laundry detergents according to the changing and evolving demands of consumers. The products have been conveniently segregated into bars, powder, liquid, pods, and others.

The significant growth in household consumption of laundry detergents is a driving force for industry growth. The chief players of laundry detergents are focusing on coming up with eco-friendly laundry products. They are made using biodegradable ingredients like natural washing soda, coconut oil, mineral-based surfactants, and plant-based enzymes. This approach will guide industry growth forward.

Henkel (OTCMKTS: HENKY) and the Procter & Gamble (NYSE:PG) are the leading companies in the global laundry detergents market. In 2018, Laundry and Homecare segment of Henkel amounted to 32% of the total sales by business unit. This growth has been possible due to businesses strong innovation strategy and increased marketing support in emerging markets. P&G is another key player in the market. P&G's brand Tide has reinvented its classic liquid detergent with the packaging of new Eco-box made of an ultra-concentrated formula meant for efficient e-commerce purposes.

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

  • Laundry detergents come in various forms, like powder and liquid, among others.
  • Laundry detergents are broadly divided into two types, namely enzymatic and non-enzymatic.
  • It is used for household, industrial as well as institutional purposes.
  • The major regional markets for laundry detergents are North America, Europe, Asia Pacific, Latin America, and the Middle East and Asia.

Key Findings of The Report:

  • The market is being driven by the increasing demand for household care products from North America. 
  • The increasing adoption of laundry detergent in the emerging markets is further aiding industry growth.
  • The increasing awareness of hygiene is further providing the industry impetus.
  • Rising urbanisation and increasing disposable incomes along with escalating consumerism are also driving the industry forward.
  • Rising applications of laundry detergents in the industrial sector due to increasing laundry services, growing hospitality industry, and the growing tourism industry is also propelling the industry forward.
  • The rising technological and product innovations taking place within the household care industry is further driving the industry.

Key Offerings of the Report:

  • The EMR report gives an overview of the global laundry detergents market for the periods (2016-2020) and (2021-2026).
  • The report also offers the historical (2016-2020) and forecast (2021-2026) markets for the forms, types, applications, and regional markets of global laundry detergent.
  • It gives an in-depth look at the regional price trends in the global laundry detergents market for the periods (2016-2020) and (2021-2026).
  • It evaluates the global trade analysis for the year 2020, examining the value and volume of the major importing as well as exporting countries.

The Procter & Gamble Company, Henkel AG & Company, S. C. Johnson & Son, Inc., KGaA, Church & Dwight Co., Inc, Seventh Generation, Inc., Alticor Inc., The Clorox Company, USA Detergents Manufacturing Inc., among others are key players in the global laundry detergents market as identified by EMR.. The comprehensive report covers their market share, capacity, and latest developments like mergers and acquisitions, 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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*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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