The global detergent market was valued at USD 68.5 billion in 2022 and is expected to reach USD 101 billion by 2032, growing at a compound annual growth rate (CAGR) of 5.1% during the forecast period 2023-2032. period.
The expansion of the detergent market is driven by several factors. These include global population growth, increasing urbanization, the introduction of innovative product offerings, higher adoption of automatic washing machines, and increased hygiene awareness among consumers.
In particular, liquid detergents are preferred because they dissolve easily in cold water, resulting in effective cleaning and reduced energy consumption. The widespread adoption of automatic washing machines in developed markets has significantly strengthened the liquid detergent segment. Moreover, the growing acceptance and popularity of natural or organic detergents is poised for market growth. Unlike traditional detergents, organic alternatives are free of chemicals and contain natural ingredients.
The impact of COVID-19 on the detergent market
The COVID-19 pandemic has significantly affected the detergent industry. Increased hygiene and cleanliness concerns during the pandemic caused a surge in demand for detergents. As individuals spent more time at home, the frequency of loads of laundry increased, increasing the demand for laundry detergent products. Consumers have started to prefer detergents with antimicrobial and disinfectant properties to ensure that their clothes are thoroughly cleaned and disinfected.
The detergent market, like other industries, has struggled with supply chain disruptions caused by pandemic-induced shutdowns, restrictions and supply challenges. These disruptions can lead to product shortages and delays in availability. Additionally, volatility in raw material prices and supply chain disruptions have impacted detergent prices, challenging manufacturers to keep prices stable due to these external factors.
Key market drivers and challenges
Increasing awareness of healthier lifestyles, along with growing individual concerns about health and the desire for hygienic living conditions free from germs, bacteria, dust and dirt, has led to an increase in per capita spending on household cleaning products, including detergents. In recent years, fragrance has become a key element of household cleaning products, as consumers increasingly seek products infused with robust and pleasant scents.
The increased price of liquid detergents is a significant challenge in the detergent market. Liquid detergents, especially those that boast added features such as fragrances, stain-removal capabilities, or special formulas, often carry a higher price tag than their powder counterparts. This price difference can limit affordability for thrifty consumers or consumers living in economically constrained regions.
Detergent Market Segmentation
In 2021, the powder segment accounted for 32% of global revenues, driven primarily by strong demand from emerging countries, where a significant portion of the rural population prefers cost-effective powdered products over alternative options.
The household sector may register a compound annual growth rate (CAGR) of 5.5% during the forecast period, representing a dominant force in global demand during this period. This growth is mainly due to the many millennials who live busy lives with limited time available for household chores, and the growing sales trend of washing machines in developing countries, both of which are key to the expansion of the segment.
The North American detergent market has experienced remarkable growth in recent years, primarily due to the growing emphasis on healthier lifestyles and hygiene. Factors such as a well-established real estate sector, household spending, and rising housing numbers have contributed to the increased sales of household cleaning products in the United States.
Product innovation and competitive strategies
Many companies devote significant resources to research and development and the introduction of detergent products and solutions with the aim of gaining a leg up on the competition. In addition, some companies engage in strategic partnerships, joint ventures, and mergers and acquisitions to expand their market reach, increase brand awareness, and diversify their product offerings across geographic regions.
Where to find out more
Be sure to check out the comprehensive new report for more information on the market Global Detergent Market Size, Share and Trend Analysis by Factview Research. This report provides details on the global detergent market outlook, segmentation, regional dynamics, competitive intelligence and company analysis.
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