GLOBAL LAUNDRY DETERGENT MARKET IS PREDICTED TO REACH USD 315.18 BILLION BY 2033: SPER Market Research
Laundry detergent is used to clean soiled garments. Laundry detergent powder formulas often contain the following ingredients: surfactants, enzymes, optical brighteners, builders or water softeners, bleach, foam regulators, scents, colors, and corrosion inhibitors.
According to SPER market research, ‘Global Laundry Detergent Market – By Product Type, By Distribution Channel- Regional Outlook, Competitive Strategies and Segment Forecast to 2033’ state that the Global Laundry Market is predicted to reach USD 315.18 billion by 2033 with a CAGR of 6.51%.
The primary reasons behind the increase in per capita spending on household cleaning products, particularly laundry detergents, are people’s increased concern about living in a clean, germ-free environment and their growing knowledge of the need to lead healthy lifestyles. Most people use powder detergent extensively, and rising disposable income and consumer health and hygiene consciousness are the main reasons propelling growth in the local laundry detergent industry. Due to customer demand for products with potent, enticing scents, the use of fragrance in household cleaning solutions has grown significantly in recent years. This has forced manufacturers to set themselves apart with their goods.
The laundry detergent sector may face challenges or restrictions for a number of reasons. These could include A move toward more environmentally friendly laundry detergents has resulted from growing awareness of the negative effects these products, especially those with phosphates, sulfates, and other potentially toxic ingredients, have on the environment. Legislation limiting the use of particular chemicals in detergents might be able to prevent the industry from growing. Health Issues People are beginning to recognize that preservatives, colors, and perfumes all of which are commonly included in laundry detergents may be harmful to their health.
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Impact of COVID-19 on Global Laundry Detergent Market
The COVID-19 pandemic hasn’t really affected the laundry detergent industry’s expansion all that much. Market expansion was impacted by manufacturing and supply chain disruptions during the outbreak. Nevertheless, a number of factors, such as growing health concerns about personal hygiene and cleanliness, are driving the growth of the laundry detergent industry. Moreover, despite closures, both long-standing companies and more recent startups in the global market are doing everything they can to provide laundry detergents. Most people use powder detergent extensively, and rising disposable income and consumer health and hygiene consciousness are the main reasons propelling growth in the local laundry detergent industry.
Global Laundry Detergent Market Key Players
Geographically, the Asia-Pacific area continues to hold the largest market share in terms of both volume and value of laundry detergent, mostly as a result of its large population and housing stock. The key market players are Alticor, Church &Dwight Co.Inc, Colgate-Palmolive Company.
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Laundry Detergent Market Revenue
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