Fabric Wash and Care Market Size on Target to Reach $112 Billion by 2022
Fabric wash and care products are used to clean garments, furniture and upholstery. A number of fabric cleaning and care products such as detergents and fabric softeners are available in the market. Increase in awareness about the benefits of fabric care products, growth in population, rise in disposable income of middle-class customers, and diversification of product portfolio are the major factors that drive the market growth. Global players such as Procter & Gamble, Hindustan Unilever Limited, and Henkel AG & Co. KGaA have launched innovative fabric cleaning and care products to expand their market share. In addition, these players have launched ecofriendly fabric softeners and detergents to cater to the needs of customers.
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Fabric Conditioner/softener is the Major Driver
Fabric conditioners form a niche segment of the fabric wash and care market. The segment has huge growth potential in the coming years, owing to increase in awareness among the customers about the benefits of using fabric conditioner. In addition, market players have launched innovative fabric conditioners infused with natural ingredients and various fragrances to improve the effectiveness of the product and to increase their customer base.
Fabric conditioner market is witnessing robust growth, as these products enable easy washing while maintaining the softness of the clothes. For instance, in 2014, Comfort, a brand of Unilever, relaunched a range of fabric conditioners to cater to the demand of customers for long-lasting fragrance. Marketing initiatives such as point-of-sale promotions and discount offers have gained consumers' attention. Moreover, the market is highly competitive due to the presence of multiple well-established players offering products at affordable price within the consumers' budget, and thereby increasing their customer base.
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Asia-pacific is a Lucrative Fabric Wash and Care Market
Rise in disposable income and awareness among the consumers about the benefits of using quality detergent and fabric conditioner have propelled the growth of fabric wash and care market in Asia-Pacific. The region is one of the largest producers of detergent, and is expected to be the largest consumer in the overall market in the coming years. Developing economies such as India and China foster the growth of the market, owing to rise in population in these countries and improvement in living standards. Growing awareness about the benefits of fabric cleaning products to maintain the quality of clothes among different end users has fueled the market growth. Market players are making efforts to launch less water-dependent fabric cleaning products to cater to the demand of countries such as India, China, and Indonesia, which have scarcity of water. Increase in disposable income and improvement in lifestyle in the region encourage customers to opt for premium fabric cleaning products.
The report segments the global fabric wash and care market based on product types, application, and geography. By product types, the market is segmented into detergent, fabric conditioner/softener, and bleach. On the basis of application, the market is categorized into residential, hospitality, healthcare, aviation, and automotive. Geographically, the market is further analyzed across, North America (U.S., Canada, and Mexico), Europe (UK, Germany, Italy, and rest of Europe), Asia-Pacific (India, China, Japan, and rest of Asia-Pacific), and LAMEA (Latin America, Middle East, and Africa).
Key Findings of Fabric Wash and Care Market:
o Improvement in lifestyle and increase in awareness about the variety of fabric wash and care products have accelerated the growth of the overall fabric wash and care market.
o China is expected to generate the highest revenue within the Asia-Pacific region, growing at a CAGR of 6.5% during the forecast period
o In 2015, detergent segment accounted for nearly 58% of the overall fabric wash and care market size
o Hospitality segment is anticipated to grow at a notable CAGR of 6.0% during the forecast period
Key players profiled in this report include Unilever Group, Procter & Gamble, Reckitt Benckiser Group, Henkel AG & Co. KGaA, The National Detergent Company SAOG, Church & Dwight Co. Inc., SEITZ GMBH, Nice Group, Wipro Enterprises Limited, and Colgate-Palmolive Company.
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