Laundry Care Market Was Valued at USD 54,829.3 Million in 2021 Owing to Rapid Urbanization

According to Precision Business Insights (PBI) latest report, the global laundry care market is worth USD 54,829.3 million in 2021, growing at a 5.3% CAGR from 2022 to 2028. The global laundry care market is segmented into the following types: By Product Type (Laundry Detergent, Fabric Softener, and Others), By Distribution Channel (Off-line Distribution and On-line Distribution), and Geography (North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa) Forecast to 2028. Key players' profiles in the laundry care market report are Henkel AG & Co. KGaA, Lonza, Fagor Automation, The Clorox Company, Reckitt Benckiser Group PLC, and Procter & Gamble, Unilever, S.C. Johnson & Son Inc, and Belmont Laundry. Rising Demand for Laundry Detergents Owing to Increased Household Expenditure. The soap and detergents industry includes products for washing, viz laundry soaps, and synthetic detergents. Low energy, water consumption, and high-performance values are essential aspects that consumers consider when purchasing automatic washing appliances. Due to the emergence of small pack sizes, rapid urbanization, existing environmental pressures, and price escalation of petrochemical feedstock, the demand for sustainable laundry and dishwashing products is developing swiftly. Extreme research in household cleaning offers more innovative cleaning solutions. Over half of consumers worldwide favor functionality over natural and multipurpose claims in household care products. The emergence of new start-ups in the market presents a profit opportunity, and as a result, many enterprises will enter this domain.

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The laundry detergent segment Dominates the Laundry Care Market:
Based on product type, the laundry detergent segment accounts for a higher value in the laundry care market with USD X Mn, followed by fabric softener. Increasing preferences for scented laundry care products and non-allergenic/green products and the development of new products are gaining consumer acceptance and accelerating the growth of laundry detergent. The onset of eco-friendly and sustainable laundry care products is expected to drive market growth during the forecast period. Eco-friendly products are generally organic and are made of natural substances rather than artificial preservatives, chemicals, artificial additives, and synthetics, which are toxic to human health. At present, numerous consumers choose organic and eco-friendly laundry care products, such as liquid detergents made of natural ingredients. Strict government regulations on laundry care products such as detergents, soaps, and conditioners are expected to dampen the market

Asia-Pacific Leads Laundry Care Market:
As manual washing is the most common method of washing clothes in emerging economies such as India, Indonesia, and China, the Asia Pacific is anticipated to produce the highest revenue share in the global laundry care products market owing to high invasion by companies such as Procter & Gamble, Unilever, and others with brands such as Surf Excel, Ariel, and others.

Strategic New Product Launches, Mergers, Acquisitions, and Agreements are the key strategies adopted by market players:
The global laundry care market further reveals that the key players increasingly adopting strategies such as the launch of newer products, product launches, and long-term alliances to improve market revenue share and gain significant geographic presence across the region. For instance, In Jan 2022, Henkel plans to merge Laundry & Home Care and Beauty Care to create a new "Consumer Brands" business unit.

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Detailed Segmentation
Based on the Product Type, the market is segmented into the following:
• Laundry Detergent
• Fabric Softener
• Others

Based on the Distribution Channel, the market is segmented into the following:
• Off-line Distribution
• On-line Distribution.

Based on the geography, the market is segmented into the following:
• North America
• Europe
• Asia Pacific
• Latin America
• MEA

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