High-efficiency Laundry Liquid Detergent Market to Reach $10.9 Bn, Globally, by 2025, at 6.5% CAGR: Allied Market Research
Increasing popularity of high-efficiency washers, rise in need for energy conservation, enforcement of stringent regulations to curb water usage, and upsurge in demand for laundry liquid detergent drive the growth of the global high-efficiency laundry liquid detergent market
PORTLAND, Oregon, Sept. 19, 2019 /PRNewswire/ -- Allied Market Research published a report, titled, "High-efficiency Laundry Liquid Detergent Market by End User (Residential and Commercial) and Distribution Channel (Independent Grocery Stores, Supermarket & Hypermarket, Departmental & Convenience Stores, and Online Sales Channels): Global Opportunity Analysis and Industry Forecast, 2018–2025." The report provides a detailed analysis of drivers & opportunities, wavering market trends, competitive market landscape, and market size & estimates. As per the report, the global high-efficiency laundry liquid detergent industry was projected at $7.01 billion in 2018 and is expected to hit $10.9 billion by 2025, registering a CAGR of 6.5% during 2018–2025.
Increasing popularity for high-efficiency washers, rise in need for energy conservation, enforcement of stringent regulations to curb water usage, and upsurge in demand for laundry liquid detergent drive the growth of the global high-efficiency laundry liquid detergent market. On the other hand, high prices of high-efficiency laundry liquid detergent as compared to their counterparts restrain the growth to some extent. However, formulation and introduction of convenient packaging are expected to offer a number of opportunities for the key players in the industry.
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The residential segment to lead the trail by 2025-
Based on end user, the residential segment contributed to four-fifths of the total high-efficiency laundry liquid detergent market share in 2018 and is expected to dominate throughout the forecast period. Rising consumer awareness about product and extensive marketing & advertising by leading brands coupled with shifting consumer preference toward liquid based detergents fuel the growth of the segment. The commercial segment, on the other hand, would cite the fastest CAGR of 7.2% during 2018–2025. This is attributed to increasing penetration of high efficiency washers to aid growing demand for liquid detergents around the globe.
The supermarket & hypermarket segment garnered the lion's share in 2018-
Based on distribution channel, the supermarket & hypermarket segment accounted for three-fifths of the total high-efficiency laundry liquid detergent market revenue in 2018 and is projected to rule the roost during the estimated period. This is due to efficient supply chain and streamlined large scale operations which reduces per unit costs. At the same time, the online sales channels segment is projected to grow at the fastest CAGR of 8.0% till 2025. Increasing penetration of the Internet coupled with rising number of deliver to doorsteps drive the growth of the segment.
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North America to dominate in terms of revenue-
Based on geography, North America held the major share in 2018, generating more than two-fifths of the total high-efficiency laundry liquid detergent market. High penetration of high efficiency washing machines in the region has boosted the growth. Simultaneously, the Asia-Pacific region is anticipated to register the fastest CAGR of 8.9% throughout 2018–2025. Rising urbanization, growing product awareness and omni channel approach by leading market players have resulted in increased demand for high efficiency laundry liquid detergents in the region.
Key market players-
- Church & Dwight, Inc.
- Ecolab Inc.
- Henkel AG & Co. KGaA,
- Procter & Gamble,
- Reckitt Benckiser Group Plc.
- Venus Laboratories DBA Earth Friendly Products, Inc.
- Biokleen, Colgate-Palmolive Company
- The Clorox Company, and Unilever.
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