The liquid laundry detergent market size is projected to grow from USD 22.24 billion in 2021 to USD 32.99 billion in 2028, exhibiting a CAGR of 5.8% during the forecast period. Increasing demand for effective and convenient washing solutions is expected to fuel market progress. Fortune Business Insights™ mentions this information in its report titled “Liquid Laundry Detergent Market, 2021-2028.”
Liquid laundry detergent is a detergent made up of liquid instead of powder. It is composed of surfactants and other ingredients to enhance fabric cleaning. They are an extremely convenient option that eliminates the hassles of lint formation, color loss, and others. It reduces washing time and removes dirt efficiently from clothes. These type of detergents are made up of a mixture of non-ionic and anionic surfactants. Liquid detergents work well in cold, dry, and hot water and reduce the effort taken to wash clothes, and improve the consumer’s experience. In addition, the evolving consumer experience and rising demand for effective laundry solutions are expected to boost market progress during the upcoming years.
COVID-19 Pandemic
Rising Demand for Chemical Infectants to Foster Industry Progress
This market is expected to grow positively during the COVID-19 pandemic because of the rising demand for effective infectants during the pandemic. The rising demand for effective laundry solutions is expected to boost the market growth. Increasing awareness regarding the product’s benefits and the rising awareness regarding virus spread leads to the adoption of effective disinfecting products. Lockdown relaxations and adoption of reduced capacities, part-time shifts, and production machinery may enable manufacturers to recover losses and improve functioning. These factors are likely to propel industry progress.
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Segments
By Application, the market is segmented into household and industrial & institutional. Regionally, it is classified into Europe, North America, Asia Pacific, Latin America, and the Middle East & Africa.
Highlights of the Report
The report provides a detailed analysis of the top segments and the latest trends in the market. It comprehensively discusses the driving and restraining factors and the impact of COVID-19 on the market. Additionally, it examines the regional developments and the strategies undertaken by the market’s key players.
DRIVING FACTORS
- Growing demand for chemical products: The chemical industry is driven by the demand for its products from a wide range of sectors, including agriculture, construction, healthcare, and consumer goods.
- Technological advancements: Advancements in technology, such as automation, digitalization, and the use of renewable raw materials, are driving innovation and growth in the chemical industry.
- Economic growth: The chemical industry is closely tied to economic growth, as rising incomes and consumer spending boost demand for chemical products.
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Regional Insights
Well-established Real Estate to Boost Market Growth in North America
North America is expected to hold a major market and was valued at USD 6.94 Billion in 2020. Adoption of a healthy lifestyle, rapid development of home care facilities, and well-established real estate is expected to boost liquid laundry detergents sales. These factors are likely to boost market development.
Asia Pacific is expected to witness significant growth because of increasing industrial investments in the industrial sectors. Further, the rising demand for effective household products is expected to boost the liquid detergent sales. Further, the spike in middle-class population, household income, and rapid urbanization is expected to boost the liquid detergent demand. These factors are likely to boost the market growth.
In Europe, rising demand for liquid laundry detergent from households is likely to propel the product’s sales. Further, rising demand for liquid bio detergents and higher lifestyle expenditure propel industry progress.
Competitive Landscape
Prominent Companies Announce Hygiene Products to Boost Brand Image
The prominent companies operating in the market announce hygiene products to boost their brand image. For example, A German-based company named Henkel launched hygiene products for tackling the COVID-19 pandemic in May 2020. Further, the incorporation of research and development strategy enables companies to improve their product quality and satisfy consumers’ demands. Further, major manufacturers focus on developing advanced production machinery to improve product quality, reduce labor costs, enhance productivity, boost operational efficiency and achieve organizational goals.
Industry Development
- May 2020: Lighting and Wipro Consumer Care launched Godrej Ezee 2 in 1 liquid detergent to expand their product portfolio.
List of Key Players Profiled in this Market Report
- Procter & Gamble (U.S.)
- Unilever (U.K.)
- Lion Corporation (Japan)
- KAO CORPORATION (Japan)
- Henkel AG & Co. KGaA (Germany)
- Church & Dwight Co., Inc. (U.S.)
- Reckitt Benckiser Group plc (U.K.)
- Wipro Consumer Care and Lighting (India)
- Seventh Generation Inc. (U.S.)
- Guangzhou Blue Moon Industrial Co., Ltd. (China)
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