Published on : Dec 21, 2017
Albany, New York, December 21, 2017: Laundry is one kind of household chores that needed to be performed in the appropriate way. A new report, focusing on laundry care market has been recently broadcasted to the vast archive of Market Research Hub (MRH), which studies the performance of the global laundry care market over a 10 year assessment period, thus titled as “Laundry Care Market: Global Industry Analysis 2012 – 2016 and Opportunity Assessment 2017 – 2027”. In this report, it has been clearly stated that the global laundry care market is estimated to be valued at about US$75,580 Mn in the year 2017 and further assessed to touch a value of about US$ 126,987 Mn in the year 2027, registering a 5.3% CAGR during the mentioned forecast.
One of the most effective ways to protect ourselves and others from disease is by maintaining personal hygiene. Maintaining hygiene in the clothes which one wears is an essential aspect of personal hygiene and thus changing clothes daily for cleaning is recommended and this fuels the global laundry care market over the assessment period. With recovery from the global economic downturn and growing spending on personal hygiene, there is an increasing demand for laundry care products and this industry is anticipated to accelerate in developing nations in upcoming years.
In order to provide a comprehensive view of the global market, the report tracks the performance of the laundry care market across the key geographies of North America, Latin America, Eastern Europe, Western Europe, Asia Pacific excluding Japan, Japan, and the Middle East and Africa. Presently, APEJ market is the largest market in global laundry care market, which is estimated to represent US$ 20,599.8 Mn, or 27.3% share of the total market in 2017, exhibiting a CAGR of 5.7% during the assessment period. Apart from that, the market has been analyzed on the basis of product type, by form type, by source type, and by distribution channel type.
The laundry care products come in variety of forms such as cake/block, liquid, powder and others. The laundry care market is an important part of the FMCG sector, where a number of laundry care products are available. The manufacturers, in order to attract consumers, constantly innovate their products and this is the reason for the existence of liquid detergents. They are expected to gain traction in the market.
On the basis of product type, the laundry detergents are estimated to be valued at US$ 44,943 Mn in the year 2017 and are poised to touch a figure of US$ 75,069.9 Mn in the year 2027. By distribution channel, the convenience stores segment is estimated to be valued at US$ 19,993.6 Mn in the year 2017 and is poised to touch a figure of US$ 34,062 Mn in the year 2027.
One more part of this report contains the competitive landscape that contains information about the important companies operating in the global laundry care market. Key players profiled in this study include Procter & Gamble Co., Unilever PLC, Colgate-Palmolive Company, Henkel AG & Co. KGaA, Reckitt Benckiser Group PLC, Amway Corporation, Kao Corporation, S.C. Johnson & Son Inc., LG Household & Health Care Ltd., Golrang Industrial Group, Lion Corporation, Church & Dwight Co., Inc. and Alicorp S.A.A
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