NEW YORK, Jan. 13, 2022 /PRNewswire/ -- Household Cleaning Products Market Facts at a Glance-
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According to the recent market study by Technavio, the Household Cleaning Products Market in Housewares & Specialties Industry is expected to increase by USD 14.44 billion from 2020 to 2025, with an accelerated CAGR of 4.86%. The report provides a detailed analysis of drivers & opportunities, top winning strategies, competitive scenario, future market trends, market size & estimations, and major investment pockets.
APAC will register the highest growth rate of 43% among the other regions. China and Japan are the key markets for household cleaning products. Moreover, market growth in APAC will be faster than the growth of the market in other regions.
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Vendor Insights-
The household cleaning product market is fragmented, and the vendors are deploying various organic and inorganic growth strategies to compete in the market. The offerings of some of the key vendors are mentioned below:
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Regional Market Outlook
The household cleaning products market share growth in APAC will be significant during the forecast period. China and Japan are the key markets for household cleaning products in APAC. Market growth in APAC will be faster than the growth of the market in other regions.
The growing middle-class population, along with its increasing disposable income, is driving the market. The growth in the middle-class population will result in an increase in the household's final consumption of various products, including home care products at large.
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Latest Drivers & Challenges Impacting the Market-
Product innovation and portfolio extension are some of the key factors driving the growth of the household cleaning products market. Innovations are generally based on functionality, pricing, new ingredients, packaging, and fragrances. Vendors have introduced surface cleaners that protect surfaces from soil buildup and eliminate the need for cleaning every day. They are also considering changing consumer preferences and are introducing new fragrances such as citrus and nature-identical deodorizers and fresheners. Manufacturers are implementing technological advances, such as using automated rapid prototyping machines, implementing refilling technology, and introducing a spray form of products during product processing and packaging stages.
Manufacturers are introducing newer products in the home care category to gain a competitive advantage. However, it is challenging to improve and enhance production processes while complying with the labeling, packaging, and quality standards of finished products. Therefore, manufacturers optimize their production costs to achieve the expected margins (as a part of their pricing strategy) and the quality of products. During the production of household cleaning products, manufacturers consider factors such as procurement costs, such as raw material cost and logistics cost, and labor costs, which are rising globally.
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Here are Some Similar Topics-
Household Cleaning Products Market Scope |
|
Report Coverage |
Details |
Page number |
120 |
Base year |
2020 |
Forecast period |
2021-2025 |
Growth momentum & CAGR |
Accelerate at a CAGR of 4.86% |
Market growth 2021-2025 |
USD 14.44 billion |
Market structure |
Fragmented |
YoY growth (%) |
4.37 |
Regional analysis |
APAC, Europe, North America, South America, and MEA |
Performing market contribution |
APAC at 43% |
Key consumer countries |
China, US, Japan, UK, and France |
Competitive landscape |
Leading companies, competitive strategies, consumer engagement scope |
Companies profiled |
Church and Dwight Co. Inc., Colgate-Palmolive Co., Godrej Consumer Products Ltd., Henkel AG, and Co. KGaA, Kao Corp., Reckitt Benckiser Group Plc, S. C. Johnson and Son Inc., The Clorox Co., The Procter and Gamble Co., and Unilever Group |
Market Dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and future consumer dynamics, market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
About Us
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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Technavio Research
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Website: www.technavio.com/
SOURCE Technavio
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