The global laundry care industry was projected to reach a valuation of around US$ 98.2 billion by 2022. The primary driver propelling the growth of the global market is the rising demand for laundry care products brought on by the population expansion in growing regions. As a result, it is projected to have generated US$ 180.3 billion by 2023 and to grow at a 5.7% CAGR from 2023 to 2033.
The market for laundry care products including detergents along with fabric conditioners is driven by the steadily rising demand for laundry services in important industries like hospitality, healthcare, and food services. A wide range of solutions for consumers are now available at reasonable prices as a consequence of the market’s abundance of laundry service providers.
A number of laundry service companies now give instant pickup, payment options via the internet, and customer loyalty discounts to their clients along with speedy services. There is a greater need for new resorts and hotels, which will have a big impact on how the market for laundry care products expands throughout the projection period as the consumer sector expands.
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Chemical detergents along with cleaners frequently fall short of the performance of organic cleaners and detergents. They have components made from plants, which makes them preferred over those that employ chemicals.
If the laundry detergent is chemical-based, even recently cleaned garments could feel sticky. This is not the case, in contrast, when washing clothes with natural detergents. Utilizing organic detergents has the added benefit of utilizing less resources. Clothing is in continual touch with the skin throughout the day. It is possible that some residue will stay in the clothing and come into proximity to the skin if harsh or even chemical-based cleaning solutions are employed.
Key Takeaways from the Market Study
- Between 2018 and 2022, sales of laundry care increased at a CAGR of 5.4%.
- In 2022, it is predicted that the fabric softeners category would increase its market share to 23%.
- Through 2023, the organic source type sector is anticipated to grow at a 5.5% CAGR to reach US$ 38.8 billion.
- The liquid detergent market is anticipated to grow at a rate of above 5.5% CAGR through 2023, representing an additional potential of US$58.4 Bn.
- The market for laundry care products in India will grow at a 5.8% CAGR between 2023 and 2033.
- According to estimates, the United States dominates the global market for laundry care with about 17.6% of total sales.
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“The increasing need for laundry care products as a result of the expanding population in emerging regions is the main factor driving the growth of the worldwide market. Customers are further enticed to shell out more on textile care and cleaning supplies by the availability of a variety of wash & care solutions.” remarks an FMI analyst.
Key Segments Profiled in the Global Laundry Care Market
Product Type:
- Fabric Softeners
- Laundry Detergents
- Others
Distribution Channel:
- Wholesaler/Distributors
- Supermarket/Hypermarket
- Convenience Stores
- E-Commerce
- Grocery Stores
- Others
Source Type:
- Synthetic
- Organic
- Others
Form Type:
- Powder
- Cake/Block
- Liquid
- Others
By Region:
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East and Africa
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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