Laundry Detergent Market Valuation Worth USD 98,139.7 Million by 2030, At 4.8% CAGR From 2021 to 2030

According to a new report, Laundry Detergent Market by Product Type, Application and Distribution Channel: Global Opportunity Analysis and Industry Forecast 2021-2030. The report offers an extensive analysis of key growth strategies, drivers, opportunities, key segment, Porter's Five Forces analysis, and competitive landscape.

The global laundry detergent market size is expected to reach $98,139.7 million by 2027 at a CAGR of 4.8% from 2021 to 2030.

Laundry detergent is used for effective cleaning action on dirt and grease, and is extensively used in washing machines. Commonly, components used in making a laundry detergent generally include builders or water softeners, bleach, surfactants, enzymes, soil anti-deposition agents, optical brighteners, foam regulators, fragrances, dyes, and corrosion inhibitors. Washing clothes is a part of daily routine in almost every household and commercial laundry services.

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Liquid laundry detergent market is expected to drive the Asia-Pacific and LAMEA regions in the upcoming future. This is attributed to rise in disposable income coupled with growing penetration of washing machines in the region. Moreover, growing awareness regarding the use of different innovating detergent products such as gels, liquid, and pod laundry detergents is expected to fuel the growth of the laundry detergent market during the forecast period.

The demand for the laundry detergent is growing at a sustainable across the world due to its usage in every corner of the globe on regular basis. One of the major factors influencing the demand for the laundry detergent is its easy availability. Laundry detergent is easily available across the globe through supermarkets, hypermarkets, e-commerce, convenience stores, grocery stores, and other types of distribution channels.

The growing consumer awareness regarding cleanliness and hygiene, rising disposable income, and desire to look presentable at all times is expected to drive the growth of the laundry detergent market during the forecast period.

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According to the laundry detergent market analysis, the laundry detergent market is segmented into product type, application, distribution channel, and region. On the basis of product type, the market is categorized into powder, liquid, gel, and pods/tablets. By application, it is segregated into industrial and household. Based on the distribution channel, it is segmented into online, supermarket/hypermarket, convenience stores, independent retailers, and others. Region wise, it is analyzed across North America (the U.S., Canada, and Mexico), Europe (the UK, Germany, France, Italy, Spain, and rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Australia, and rest of Asia-Pacific), and LAMEA (Brazil, Argentina, South Africa, Saudi Arabia, and rest of LAMEA).

Region wise, Asia-Pacific dominated the laundry detergent market in 2020, and is expected to sustain its dominance throughout the forecast period. The key factors driving the of the laundry detergent market growth in the region are high consumption of powder detergent by the majority of the population, rising consumer awareness regarding health and hygiene, and rising disposable income.

The outbreak of the COVID-19 pandemic resulted in hampered production and disrupted supply chain across the globe, which hampered the growth of the laundry detergent industry, insignificantly. People were forced to stay at their homes due to the strict lockdown measures implemented by the government to curb the spread of the virus. Moreover, government also impose a ban on travelling that caused severe loss to the hotels industry. This resulted a loss as the hotels, lodges, institutions, and other commercial spaces that offers laundry cleaning services.

However, people became more concerned and aware regarding cleanliness and hygiene that fostered the demand for the detergent and boosted the growth of the laundry detergent market.

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The key players profiled in this report include:

• BASF SE
• Clariant AG
• Croda International
• E.I. du Pont de Nemours and Company
• Henkel AG & Co. KGaA
• Kao Corporation
• Procter & Gamble
• The Dow Chemical Company
• Unger Fabrikker AS
• Unilever Plc.

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