NEW
YORK, June 18, 2024 /PRNewswire/ -- The
global detergent market size is estimated to grow
by USD 33.9 billion from 2024-2028,
according to Technavio. The market is estimated to grow at a CAGR
of 5.95% during the forecast period. Growth
in hospitality sector is driving market growth, with a
trend towards increasing acceptance of liquid detergents.
However, high price wars poses a challenge. Key market
players include Church and Dwight Co. Inc., Clariant International
Ltd., Croda International Plc, Diversey Holdings Ltd., Ecolab Inc.,
Galaxy Surfactants Ltd., Henkel AG and Co. KGaA, Huntsman
International LLC, Kao Corp., KERSIA GROUP, Lanxess AG, Lion Corp.,
McBride Plc, Oxiteno SA, Solvay SA, Stepan Co., Tata Chemicals
Ltd., Tetra Laval SA, The Procter and Gamble Co., and Unilever PLC.
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Forecast
period
|
2024-2028
|
Base Year
|
2023
|
Historic
Data
|
2018 - 2022
|
Segment
Covered
|
Type (Powder and
Liquid), End-user (Household and Commercial and industrial), and
Geography (North America, APAC, Europe, South America, and Middle
East and Africa)
|
Region
Covered
|
North America, APAC,
Europe, South America, and Middle East and Africa
|
Key companies
profiled
|
Church and Dwight Co.
Inc., Clariant International Ltd., Croda International Plc,
Diversey Holdings Ltd., Ecolab Inc., Galaxy Surfactants Ltd.,
Henkel AG and Co. KGaA, Huntsman International LLC, Kao Corp.,
KERSIA GROUP, Lanxess AG, Lion Corp., McBride Plc, Oxiteno SA,
Solvay SA, Stepan Co., Tata Chemicals Ltd., Tetra Laval SA, The
Procter and Gamble Co., and Unilever
PLC
|
Key Market Trends Fueling Growth
Liquid detergent's introduction to the market led to notable
advantages over powder detergents and bars. These benefits include
complete water dissolution, absence of residual stains, and
unobstructed washing machine process flow. Consequently, consumer
preference for liquid detergent has increased, contributing
significantly to the detergent industry's expansion.
The detergent market is currently experiencing significant
growth with key players focusing on innovation and sustainability.
Detergents with fabric softeners and bleach are popular choices
among consumers. Powder and liquid detergents are the dominant
types in the market. The use of biodegradable and eco-friendly
ingredients is a trending development. Dishwashing detergents are
also gaining traction due to their effectiveness and convenience.
The market is competitive with companies adding advanced features
to their products to attract customers. The future of the detergent
market looks promising with continued innovation and consumer
demand.
Research report provides comprehensive data on
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Report
Market Challenges
- The global detergent market experiences intense price
competition among vendors, particularly in the highly concentrated
industry. Unorganized players offer lower-priced alternatives,
making competitive pricing crucial. Price elasticity in the
detergent market means even small price changes significantly
impact demand. Consumers, especially those in lower, middle, and
middle-upper income segments, prioritize affordability, leading to
high brand-switching. Liquid detergents have higher manufacturing
costs due to expensive raw materials and packaging, making them
pricier than substitutes. Local brands' presence increases
competition, forcing global players to maintain profit margins and
pass on costs to consumers. This can hinder market penetration,
particularly in developing regions.
- The detergent market faces several challenges. Consumers seek
effective and eco-friendly products, leading to the need for
advanced formulations. Detergent manufacturers must balance cost
and innovation to meet these demands. Distribution channels also
pose challenges, as consumers prefer convenience and quick
delivery. Regulations and sustainability concerns add complexity,
requiring companies to adapt and innovate. Competition is fierce,
with numerous brands vying for market share. Additionally, changing
consumer preferences and trends necessitate continuous product
development. Overall, the detergent industry requires strategic
planning and agility to address these challenges and thrive in a
dynamic market.
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challenges - Download a Sample Report
Segment Overview
This detergent market report extensively covers market
segmentation by
- Type
- End-user
- 2.1 Household
- 2.2 Commercial and industrial
- Geography
- 3.1 North America
- 3.2 APAC
- 3.3 Europe
- 3.4 South America
- 3.5 Middle East and
Africa
1.1 Powder- The detergent market is dominated by
powder detergents, which are conveniently offered in powder form
for various applications such as hard surface cleaning and laundry.
Soap is included in these powders, primarily functioning as a foam
depressant. Key markets like China, India,
and Brazil drive growth in the
powder detergent sector, making it the largest segment in the
global detergent market in 2023. However, liquid detergents are
projected to lead during the forecast period due to their slower
growth in comparison.
For more information on market segmentation with
geographical analysis including forecast (2024-2028) and historic
data (2018 - 2022) - Download a Sample Report
Research Analysis
The detergent market encompasses a wide range of products
designed to clean and freshen laundry. These include liquid
detergent, powder detergent, fabric softener, enzyme detergent,
bleach additives, and stain remover. Detergent tablets and
detergent pods are also popular formats. Bio-based detergent is a
growing segment, as consumers seek eco-friendly alternatives. The
market is driven by increasing consumer awareness about hygiene and
cleanliness, as well as advancements in detergent technology.
Detergent ingredients, such as surfactants and enzymes, play a
crucial role in the effectiveness of these products.
Market Research Overview
The detergent market encompasses a wide range of cleaning agents
designed to remove dirt and stains from various surfaces. These
products are essential in both household and industrial settings,
with applications including dishwashing, laundry, and surface
cleaning. Detergents are available in various forms, such as
powders, liquids, and tablets, catering to diverse consumer
preferences. The market is driven by factors like increasing
population, rising disposable income, and growing awareness about
hygiene and cleanliness. Additionally, advancements in technology
have led to the development of eco-friendly and biodegradable
detergents, addressing the growing concern for environmental
sustainability. The detergent market is a significant sector,
offering numerous opportunities for innovation and growth.
Table of Contents:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation
- Type
-
- End-user
-
- Household
- Commercial And Industrial
- Geography
-
- North America
- APAC
- Europe
- South America
- Middle East And Africa
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix
About Technavio
Technavio is a leading global technology research and advisory
company. Their research and analysis focuses on emerging market
trends and provides 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
consists of more than 17,000 reports and counting, covering 800
technologies, spanning across 50 countries. 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.
Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/
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