The carpet and rug shampoo market size is projected to be worth US$ 63.4 million in 2023. The market is likely to reach US$ 96.6 million by 2033. The market is further expected to surge at a CAGR of 4.3% during the forecast period 2023 to 2033.
Macro and microeconomic factors hold significant influence the growth of the carpet & rug shampoo market. The client base for carpet & rug shampoo market is broadening with expanding middle that is spending more on discretionary services as well as increasing construction of retail and office spaces.
Manufacturers in the carpet & rug shampoo market are usually engaged in procuring an alliance with different industries. Significant revenues in the carpet & rug shampoo market are garnered from contractual alliances between hospitality and food service industries.
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Currently, manufacturers in the carpet & rug shampoo market are introducing eco-friendly carpet & rug shampoo and cleaners. As the sustainability trend is witnessing significant penetration across industries, carpet & rug shampoo with natural, plant-based and sustainable ingredients are being highly embraced.
In addition to harmless ingredients, product launch of concentrated cleaning solutions is also one of the manufacturer strategies to minimize wasteful packaging and investment of natural resources.
Consumers are inclined at saving time spent in carrying out service appointments and adopt do-it-yourself cleaning. Further, increasing unemployment rates across different countries are alluding at the negative influence on the growth of the retail and consumer product industry, thereby posing negative influence on the future outlook of the carpet & rug shampoo market.
Carpet & Rug Shampoo Market Outlook
Carpet & rug cleaning products are used extensively in most of the places commercially and residentially to eliminate dust, stains, odor, and clutter from the carpets. Expanding construction industry globally due to rapid urbanization as well as a rise in land use will significantly influence the demand of carpets and other household products, which will further accelerate the need for carpet & rug shampoo or other cleaning products.
Every household cleaner is demanding for optimal combinations of ingredients such as stain removers, natural surfactants, abrasives, fragrance, and brighteners in cleaning products. Carpet & rug shampoo is one of the carpet cleaning products that are used in home and professional carpets, as well as they, are safe for the most type of surfaces, cleans, and all washable fibers.
The rugs and carpet market has been gaining traction in some of the significant parts of the world. The carpet & rug market is expected to grow at a substantial CAGR during the forecast period. Over the last few years, the US has been the most attractive destination for global carpet and rugs market followed by Europe. In 2016, around 700 million square meters of carpet was sold in Europe which makes it a second largest market after the US.
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Reasons for Covering Carpet & Rug Shampoo Market Title
Growing demand for premium products, expanding carpet industry, the rise in consumer awareness about the benefits associated with the products such as deep cleaning formula minimize allergens in carpet, stain blocker. Carpet & rug shampoo can also be used with steam and extractor machines, helps in removing pet stains, coffee stains, and others are the factors influencing the growth of the carpet & rug shampoo market in the near future.
Consumers are focusing on hygiene and cleanliness environment for being healthy, so they are demanding for household cleaning products. Additionally, they are inclining towards chemical-free alternatives as they are getting aware about the harmful effects with the use of such chemical based products is some other factor fueling the growth of the carpet & rug shampoo market during the forecast period.
However, chemical-based carpet & rug shampoo leave harsh residues, fumes or artificial fragrance coupled with alternative products available in the market may hamper the carpet & rug shampoo market.
Global Carpet & Rug Shampoo Market: Key Players
Some of the key players operating in the global Carpet & Rug Shampoo market are Bi-O-Kleen Industries, Inc., Evonik Industries AG, Bissell Inc., Techtronic Industries Company Limited, The Clorox Company, Zep, Inc., Procter & Gamble Corporation, and others.
Carpets require high maintenance such as regular vacuuming and deep cleaning as they are prone to allergens, thus, to remove germs from carpets companies are developing novel products such as naturally derived carpet & rug shampoo is one of the leading factor driving the growth of the global carpet & rug shampoo market.
Moreover, companies are coming up with the new packaging to position their product in the marketplace, have a competitive edge, attract customer’s attention, and create loyalty in them as well as increase their market share is another factor which is expected to grow the carpet & rug shampoo market during the forecast period.
Opportunities for Global Carpet & Rug Shampoo Market Participants
Consumers are demanding for premium products as they perceive these products to be a higher quality item and increasing consumer emphasis on hygiene environment are the factors which can influence the growth of carpet & rug shampoo market revenue, over the forecast period.
Moreover, rise in demand for green carpet cleaning products, growing e-Commerce channel for product distribution globally, and companies are developing reuse and recycled carpets to minimize carpet landfills, and incinerators are the primary factor accelerating the growth of the carpet & rug shampoo market.
Brief Approach to Research
FMI will follow a modelling-based approach and triangulation methodology to estimate data covered in this report. A detailed market understanding and assessment of the type, application, and distribution channel of the product segments covered in the study is followed by carrying out a demand-side approach to estimate the sales of target product segments, which is then cross-referenced with a supply-side assessment of value generated over a pre-defined period.
The statistics and data is collected at a regional level, consolidated and synthesized at a global level to estimate the overall market sizes.
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