(I-BusinessNews.Com, November 08, 2019 ) Market Outlook:-
The market is segmented by product type into Powder detergents, Liquid detergents, Fabric softeners, Detergent tablets, and others.
Powder segment is expected to dominate the market especially in developing economies such as China, India, Brazil, and others. Powder detergents accounted for the largest market share of Laundry Detergent market due to consumer preference for economical products. Also, in rural areas, people prefer powder-based products over other products.
Market Dynamics:-
Liquid products segment is expected to grow during forecast period along with powder detergents due to several factors such as increasing usage of liquid products in North America and Europe. Liquid detergent is more used compared to powder detergent because it is much more comfortable, and convenient for consumers.
On the other hand, the Fabric softeners market had a downward trend in the past few years. Companies like Procter & Gamble are innovating new methods to grow its sales.
Due to the rising demand for fragrant and natural laundry care products, the market for fabric softeners is growing. The detergent tablets segment is declining due to the preference for liquid products and powder products over detergent tablets by consumers.
Market Segmentation:-
By Application, the market is segmented into Household and Industrial or Institutional.
The household segment is expected to dominate laundry detergent market due to rising penetration of washing machines in developing economies and a large number of vendors planning to expand their footprint by establishing manufacturing facilities in emerging economies having massive potential regarding revenue.
Industrial segment is a significant segment due to increasing industrial detergents in different industries like paper & rubber, textiles, hospitals, railways, household, and others as cleaning agents. Also, growing tourism is leading to increasing demand for new hotels construction.
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Geographical Trends:-
Geographically, the market is divided into North America, Europe, South America, Asia-Pacific and the Middle East and Africa.
The Asia Pacific is expected to dominate the global laundry detergent market due to growing competition between major regional brands. For instance, Unilever and Procter & Gamble detergent markets are declining in India because of the already established regional brands like Nirma and Rohit Surfactants.
Competitive Landscape:-
Some of the Key Players are Unilever, Henkel AG & Co. KGaA, Church & Dwight Co., Inc., Procter & Gamble, Lion Corporation, Kao Corporation and Method products, pbc.
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