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Pune, India, June 22, 2021 (GLOBE NEWSWIRE) – The world household cleaning products market size is expected to gain momentum reaching $ 320.82 billion by 2028 while posting a 4.5% CAGR between 2021 and 2028. This information is published by Fortune Business Insights in its report, titled “Household cleaning products market, 2021-2028. The report further mentions that the market amounted to USD 221.32 billion in 2020. The growing demand for organic cleaning products, coupled with increased investment in R&D activities to develop advanced products, is expected to boost the market. adoption of the product around the world.
Stellar growth rate of 18.2% in 2020 seen amid COVID-19; Strong global demand for household cleaning products
The COVID-19 pandemic has resulted in a positive growth rate across the entire market. The increasing rate of hygiene conscious populations across the world has led to a high adoption of household cleaning products. This has further led manufacturers to focus on introducing innovative products and expanding their facilities to meet exponential demand. These factors have led the market to experience a growth rate of 18.2% in 2020 and are expected to show significant growth in the coming years.
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List of the Companies Featured in Global Household Cleaning Products Market:
- Church & Dwight Co. Inc. (United States)
- Colgate-Palmolive Co. (United States)
- Godrej Consumer Products Ltd. (India)
- Henkel AG & Co. KGaA (Germany)
- Kao Group (Japan)
- The Procter & Gamble Co. (United States)
- Reckitt Benckiser Group Plc (United Kingdom)
- SC Johnson & Fils Inc. (United States)
- Goodmaid Chemicals Corporation (Malaysia)
- Unilever NV (United Kingdom)
Market segmentation :
Based on product type, the market is categorized into laundry detergents, surface cleaners, dishwashers, toilet cleaners, and others.
On the basis of product type, the laundry detergent segment is expected to hold the largest global household cleaning products market share during the forecast period. This is due to the increasing adoption of detergents to avoid staining clothes across the world. The high demand for these products is pushing the manufacturers to introduce innovative products which will drive the growth of the market. The segment held a market share of around 53.7% in 2020.
Finally, based on region, the market is categorized as North America, Europe, Asia-Pacific, Middle East & Africa, and Latin America.
Browse the detailed summary of the research report with the table of contents:
https://www.fortunebusinessinsights.com/household-cleaning-products-market-103286
What does the report provide?
The Household Cleaning Products market report provides the in-depth analysis of several factors such as the major drivers and restraints that will impact the growth. Further, the report provides information on regional analysis which covers different regions, contributing to the growth of the market. It understands the competitive landscape that involves leading companies and the adoption of strategies by them to announce partnerships, introduce new products and collaborate to further contribute to market growth. Additionally, the research analyst has adopted several research methodologies to extract insights into current trends and industry developments that will drive the market growth between 2021 and 2028.
DRIVING FACTORS
Growing adoption of organic cleaning products to increase growth
According to the American Lung Association, VOCs released by cleaning products often cause allergic reactions, chronic respiratory conditions, and headaches. In addition, the chemicals present in these products can also lead to serious ailments such as cancer.
Therefore, the growing awareness of the detrimental effects of adopting these products for an extended period is propelling the demand for organic cleaning products. The sharp increase in environmentally friendly products has further led companies to introduce innovative home care products across the world. These factors are expected to contribute to the growth of the global household cleaning products market during the forecast period.
REGIONAL OVERVIEW
Asia Pacific – The region was worth USD 76.80 billion in 2020 and is expected to gain momentum during the forecast period. This is due to the presence of a large population which is likely to result in a high demand for household cleaning products. In addition, companies from countries like India, China and Japan are focusing on exploiting opportunities related to the high demand for cleaning products in the context of COVID-19 by introducing innovative products.
North America – The region’s market is expected to experience tremendous growth, supported by growing environmental concerns that are propelling demand for safe and organic home care products between 2021 and 2028.
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COMPETITIVE LANDSCAPE
Expansion of facilities by large companies to amplify their market positions
The market includes small, medium and large companies that strive to maintain a strong position. The companies are focused on expanding their facilities to develop advanced household cleaning products to meet growing consumer demand around the world. Additionally, other key players are adopting organic and inorganic growth strategies which bode well for market growth.
Industry development:
February 2020 – Henkel AG & Co. KGaA inaugurated a new expanded facility for the development of beauty care products in Moscow. With a global investment of approximately $ 21.94 million, the new plant will have an annual production capacity of 300 million units of finished products.
Detailed table of contents:
- introduction
- Scope of research
- Market segmentation
- Research methodology
- Definitions and assumptions
- summary
- Market dynamics
- Market factors
- Market constraints
- Market opportunities
- Key ideas
- Key trends
- Latest technological advancements
- Overview of the regulatory scenario
- Porters Five Forces Analysis
- Main developments: acquisition, collaboration, strategic partnership and joint venture
- COVID-19 impact assessment
- Supply chain challenges
- Actions taken by businesses to overcome the impact of COVID-19
- Potential opportunities due to the impact of COVID-19
- Global Household Cleaning Products Market Analysis, Outlook and Forecast – by Product Type, 2017-2028
- Main conclusions / Summary
- Market Analysis, Information & Forecast – By Product Type
- Laundry detergents
- Surface cleaners
- Dishwashing products
- Toilet cleaners
- Other
TOC Continued…!
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