Detergent Market Size to Grow by USD 24.57 Billion| Rising Consumer Awareness Regarding Hygiene to Boost Market Growth | 17,000+ Technavio Research Reports

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Key Market Dynamics:

• Market Driver

The rising consumer awareness regarding hygiene has been an instrumental factor in the detergent market growth during the forecast period. There has been a considerable rise in the spending on home care products, particularly, from the middle-class population. The growth is expected owing to the increasing demand from the laundry care industry, the consciousness regarding personal hygiene, and clean surroundings which will stimulate the demand for laundry and household cleaning products.  Furthermore, rising adoption of washing machines for laundry services will also boost the market growth during the forecast period.

• Market Challenges

The high price wars between the key vendors due to imperative competitive pricing. The unorganized players offer low-quality products at lower prices than the organized players, which attract the lower, middle, and middle-upper income segments of consumers. The high cost of raw materials such as chemical/organic ingredients and natural fragrances, and packaging costs are major factors for the high price of liquid detergents than other substitute products such as powder and bar detergents.

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Key Market Segment Analysis

The detergent market report is segmented by End-user (Household and Commercial and industrial), Type (Powder and Liquid), and Geography (APAC, North America, Europe, South America, and MEA). The household end-user segment held the largest detergent market share in 2020 and will continue to account for the largest share by 2025. The growth of this segment can be attributed to the increasing use of detergent by the household sector for washing clothes at home. By type, the detergent powers segment was the largest revenue-generating segment of the market. The main advantage of detergent powders is that they are easy to use and remove dust, dirt, grease, oil, and other environmental pollutants with ease and effectiveness. The growth of the market for powder detergents is being driven by the rising demand for products from China, India, and Brazil.  

APAC will be the leading region with 53% of the market's growth during the forecast period. China and India are the key markets for detergent in APAC. Market growth in APAC will be faster than the growth of the market in other regions. The significant increase in demand for detergents due to the adoption of washing machines in households and commercial establishments such as hotels and resorts will facilitate the detergent market growth in APAC over the forecast period. Developed countries like Japan and developing countries such as India and China are witnessing high sales of liquid detergents. In addition, the predominant usage of powder detergents in most of the emerging economies in the region will further fuel the market's growth during the forecast period.

View our sample report for additional insights into the contribution of all the segments, and regional opportunities in the report.

Key Company Analysis

The detergent market is fragmented and the vendors are deploying various organic and inorganic growth strategies to compete in the market. Companies are engaging in the launch of innovative products and strengthening their leadership with mergers and acquisitions of other regional players. For instance, Henkel AG and Co. KGaA signed a material development agreement with Nexa3D for next-generation functional polymer in November 2021. The company also launched SLA 3D printing resin for its open materials platform around the same time in the last year.

Some Dominant Companies Covered in this Report are:-·          

• Church and Dwight Co. Inc.
• Colgate-Palmolive Co.
• Ecolab Inc.
• Henkel AG and Co. KGaA
• Kao Corp.
• Lion Corp.
• McBride Plc
• Reckitt Benckiser Group Plc
• The Procter and Gamble Co.
• Unilever Group
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Related Reports:

Liquid Detergent Market by Product, Distribution Channel, and Geography - Forecast and Analysis 2021-2025

Laundry Care Market by Product, Distribution Channel, and Geography - Forecast and Analysis 2021-2025

Key Topics Covered:

• Executive Summary
• Market Landscape
• Market Sizing
• Five Forces Analysis
• Market Segmentation by End-user
• Customer landscape
• Geographic Landscape
• Vendor Landscape
• Vendor Analysis
• Appendix

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