Liquid Detergent Market to Reach $40.48 Billion by 2025 at 5.2% CAGR
Liquid detergent market growth is driven by rise in per capita income, increase rapid urbanization, improvement in living standard, and changes in consumer lifestyle. Moreover, surge in need for comfort in household chores and increase in penetration of washing machines & dishwashers boost the market growth. In addition, inclination of consumers toward eco-friendly & natural liquid detergents augments the market expansion.
Majority of the developed region, including, but not limited to, the U.S., UK, Australia, and Germany have witnessed decline in sales of powder detergents, owing to the fact that young generation has shifted its preference toward liquid detergents over bar/powder detergent, as they perceive liquid detergent to be more anti-bacterial and hygienic. Over half of the U.S. consumers believed that bar detergents contain harbor germ after use. As a result, leading manufacturers of liquid detergent have scaled up their production capabilities to cater the growing demands.
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Convenience for handling of liquid detergent remains one of the key concerns for leading manufacturers. As a result prominent players in the market introduced liquid detergent in variety of packaging formats, including but not limited to sachets, bottles, cans, and others. In parallel, brands, such as HEX, have introduced flexible, upright pouches with a tap for dispensing liquid detergent. Moreover, P&G introduced Tide Eco-Box, a sealed bag of ultra-compacted liquid detergent inside a cardboard box with a dosing cup and a new no-drip twist tap. Such packaging innovations have gained huge popularity among consumers, which have augmented the demand for liquid detergents, thereby propelling the growth of the market.
Liquid detergents might contain chemicals with negative health effects ranging from skin and throat irritation to carcinogenicity. Presence of phosphates, nonylphenol ethoxylate, 1,4-dioxane, and other toxic chemicals may pose potential threat to human health as well as affect the surrounding environment. According to the U.S. Environmental Protection Agency, surfactants in detergents are toxic to aquatic life and might break down into additional toxic byproducts.
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Liquid detergents are expensive as compared to its counter parts powder detergents. High prices of liquid detergent limit the target audience for the manufacturers. Removing existing price difference between liquid and powder detergent remains a key challenge for manufacturers, however, high prices of liquid detergent limit the consumer base.
The global liquid detergent industry is segmented into nature, application, sales channel and end user. Based on nature, the report segments the global liquid detergent market into organic liquid detergents and conventional liquid detergents. The applications covered in the study include laundry and dishwashing. Depending on sales channel, the market is segregated into online sales channels, supermarket & hypermarket, departmental & convenience stores, and independent grocery stores. By end user, it is bifurcated into residential and commercial. Region wise, the market is analyzed across North America (U.S., Canada, and Mexico), Europe (Germany, UK, France, Italy, Spain, and rest of Europe), Asia-Pacific (China, India, Japan, Australia, South Korea, and rest of Asia-Pacific), and LAMEA (Brazil, Argentina, South Africa, and rest of LAMEA).
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North America is expected to lead in terms of liquid detergent market share during the forecast period; however, the region is poised to grow at sluggish CAGR during the forecast period. The Asia-Pacific market is anticipated to register highest CAGR during the forecast period, owing to increase in household income, rapid urbanization, rise in middle-class population, easy access to goods through development of retail channels, and rise in penetration of washing machines. These factors plays a vital role during the regional as well as global liquid detergent market forecast.
Key findings of the Liquid Detergent Market:
• In terms of value, the organic liquid detergent segment is expected to grow at a high CAGR during the forecast period.
• North America is expected to dominate the market, registering a significant CAGR of 3.1% in terms of value.
• Asia-Pacific is projected to show exponential growth throughout the forecast period, growing at a CAGR 8.8%, in terms of value.
• The hypermarket and supermarket segment is projected to dominate throughout the forecast period however, online sales channel is estimated to grow with the highest CAGR during the forecast period
• China accounted for more than one-third of the total Asia-Pacific liquid detergent market size in 2017.
The key players profiled in this report include Procter & Gamble, Church & Dwight, Henkel Company KGaA, Unilever Plc., S. C. Johnson & Son, Inc., Amway Corporation, Reckitt Benckiser Group Plc., Colgate-Palmolive, The Clorox Company, and Godrej Consumer Products.
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