Market Trends of Laundry Detergents Industry
Rising Demand for Laundry Detergent Owing to the Increased Household Expenditure
The growing importance of healthier lifestyles with rising concerns among individuals about health and hygienic living, free of germs, bacteria, dust, and dirt has led to rising per capita spending on household cleaning products including laundry detergents. In the past few years, fragrance is playing a vital role in household cleaning products as consumers are increasingly looking for products that offer a strong pleasant odor, which, in turn, makes vendors differentiate their products. In addition, factors such as an increase in household expenditure, and growth in the real estate sector owing to growth in residential units, have increased the demand for laundry detergent products across the globe. Due to increased marketing efforts by industry players, consumers are now more aware of laundry detergent products such as gels, pods, and liquids.
The growth of the liquid and pod laundry detergent markets has been driven by consumers' increasing need for clothes that are simple to clean. When used in a washing machine, liquid laundry detergents provide excellent cleaning while using less energy. They dissolve fast in cold water. Therefore, during the forecast period, all of these advantages are projected to fuel the growth of this segment. For instance, the world's largest laundry care market in 2021 belonged to the United States.
North America Holds the Largest Market Share
The adoption of a healthier lifestyle coupled with the increasing concern for hygiene has been one of the key drivers for the laundry detergent market in the North American region over the past few years. The well-established real estate sector and household expenditure, and growth in housing units are some of the key factors increasing the sales of household cleaners in the United States. The growing demand for organic and eco-friendly laundry care products has a significant impact on the market. This encourages various vendors to offer organic and eco-friendly products. This demand is expected to magnify the revenue of the market. For instance, vendors are continuously launching products with biodegradable ingredients such as natural washing soda, coconut oil & mineral-based surfactants, and plant-based enzymes.
For instance, one of the top household and personal care firms in the world are the American multinational consumer products company, Procter & Gamble. The company's 2021 revenue of over USD 26 billion from fabric care and home care products alone demonstrates how profitable this sector is growing. North America accounts for about half of Procter & Gamble's net sales. Tide, Febreze, and Downy are household names in many American homes under the company's fabric care and home care brands.
