July 13, 2022 05:11 ET | Source: Fortune Business Insights Fortune Business Insights
Pune, July 13, 2022 (GLOBE NEWSWIRE) -- The global household cleaning products market size stood at USD 235.76 billion in 2021. The market is expected to surge from USD 247.94 billion in 2022 to USD 334.16 billion by 2029 at 4.4% CAGR during the forecast period. Fortune Business Insights™ has deep-dived these inputs in its latest research report titled, “Household Cleaning Products Market, 2022-2029.”
According to the study, household cleaning products could be sought-after across emerging and advanced economies. The trend is largely attributed to the demand for hygienic products, including floor, toilet, and bathroom cleaners. Meanwhile, the COVID-19 pandemic has potentially disrupted the industry, prompting innovations and technological advancements globally.
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Laundry Detergents to Remain Dominant with Growing Need for Clean Clothes
With respect to product type, the market is segregated into laundry detergents, surface cleaners, dishwashing products, toilet cleaners, and others. The laundry detergent segments could contribute notably toward the global market share due to the need for hygienic clothes and product launches. For instance, in April 2021, Unilever Group joined hands with LanzaTech and India Glycol to roll out the world’s first laundry capsule from industrial carbon emissions.
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Major Players Profiled Covered in the Household Cleaning Products Market Report are:
The report offers a comprehensive perspective of the market size, share, revenue, and volume. It has deep-dived into SWOT analysis. Quantitative and qualitative assessments have provided a holistic view of the market. The primary interviews validate assumptions, findings, and the prevailing business scenarios. The report also includes secondary resources such as annual reports, press releases, white papers, and journals.
Traction for Natural Products to Drive Innovations
Industry participants expect the trend for organic products to foster the household cleaning products market share during the forecast period. Lately, green products have set the trend across developed and developing economies. Soaring demand for natural products could complement the sustainability trend in the ensuing period. Moreover, surface cleaners, laundry detergents, and toilet cleaners could witness bullish demand. With the use of chemical products witnessing a plunge, stakeholders are poised to inject funds into organic products. However, lack of customer retention and changing customer behavior may challenge leading companies to boost their portfolios.
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Asia Pacific to Witness Investment Galore with Trend for Bio-friendly Products
Stakeholders expect the Asia Pacific market to grow following the trend of shifting preference for bio-friendly products. The burgeoning population across China and India has encouraged manufacturers and suppliers to emphasize emerging markets. Consumers have exhibited traction for organic and natural cleaning products amidst environmental concerns from toxic chemicals. To illustrate, in September 2020, Proklean Technologies introduced green floor cleaners and liquid detergents in the Indian market.
The North America household cleaning products market growth could be noticeable in the wake of surging demand for safe and efficient home care products. The demand for laundry detergents, dishwashing products, and surface cleaners is expected to be pronounced across the U.S. and Canada. The trend will encourage investments across the region, prompting leading companies to propel their portfolios.
The Europe market outlook will be strong following the surge in R&D activities to streamline eco-friendly household cleaning products. Besides, rigorous regulations have led manufacturers to keep up with the increased level of product quality. The presence of leading companies will also solidify the regional market in the global landscape.
Industry Players Invest in Organic and Inorganic Strategies to Boost Portfolios
Prominent players could inject funds into mergers & acquisitions, product rollouts, technological advancements, and R&D activities. Besides, major companies could invest in innovations and product offerings in the ensuing period.
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February 2022: P&G introduced a new ‘power blast dish spray’ under its Gain brand. The product is enhanced with aroma technology, which cleans the dishes and offers a sensorial experience with its fragrance.
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