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Fabric Care Market Key Drivers, Share, Size, Trends Analysis And Forecast Report To 2033
Fabric Care Market Drivers
Fabric Care Global Market Report 2024 by The Business Research Company offers comprehensive market insights, empowering businesses with a competitive edge. It includes detailed estimates for numerous segments and sub-segments, providing valuable strategic guidance.
The Market Size Is Expected To Reach $143.74 billion In 2028 At A CAGR Of 6.6% :
The fabric care market size has grown strongly in recent years. It will grow from $104.59 billion in 2023 to $111.16 billion in 2024 at a compound annual growth rate (CAGR) of 6.3%. The growth in the historic period can be attributed to a rise in population, growing purchase of premium products, rise in disposable income of consumers, improvement in living standards, increasing adoption of e-commerce, and increasing use of clothing.
The fabric care market size is expected to see strong growth in the next few years. It will grow to $143.74 billion in 2028 at a compound annual growth rate (CAGR) of 6.6%. The growth in the forecast period can be attributed to growing demand for environment-friendly and sustainable laundry care products, growing awareness of using quality detergent, increased health and hygiene concerns, increasing consumer awareness, and rising consumer lifestyles. Major trends in the forecast period include smart fabric care solutions, sustainable packaging innovations, the development of fabric care products, the invention of washing machines, the introduction of detergents, and innovations such as automatic washing machines, dryers, and fabric softeners.
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Fabric Care Market Major Segments
The fabric care market covered in this report is segmented -
1) By Product Type: Fabric Detergents, Fabric Softeners Or Enhancers, Stain Removers Or Bleach, Other Fabric Care Products
2) By Form: Powder, Dry Sheets, Bars Or Blocks, Pacs And Tablets, Other Forms
3) By Nature: Synthetic, Organic, Other Natures
4) By Application: Residential, Hospitality, Healthcare, Automotive, Other Applications
5) By Sales Channel: Wholesalers Or Distributors, Convenience Stores, Supermarkets Or Hypermarkets, Online Stores, Independent Small Stores, Other Sales Channels
Key Driver - Increase In The Improvement In Lifestyle In Fabric Care
An increase in lifestyle improvements is expected to propel the growth of the fabric care market going forward. Improvement in lifestyle refers to making positive changes in various aspects of one's life to enhance overall well-being. The increase in lifestyle improvements may be attributed to various factors, including health awareness, education, and societal shifts. Fabric care is essential for maintaining cleanliness, hygiene, confidence, comfort, and the longevity of clothing, all of which contribute to an improved lifestyle. For instance, in July 2023, according to the Office for National Statistics (ONS), a UK-based independent producer of official statistics, approximately 91.0% of women and 81.7% of men indicated they had implemented some or significant lifestyle adjustments. Those between 16 and 24 years old showed a rate of 77.2% in making lifestyle modifications, while individuals aged 50 to 64 years demonstrated the highest percentage at 90.7%. Therefore, an increase in lifestyle improvements is driving the growth of the fabric care market.
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Prominent Trend - Advancements In Fabric Care Introducing Effective Odor Removers
Major companies operating in the fabric care market are focused on developing innovative products, such as odor removers, to address consumer demands for effective and convenient solutions. Odor removers refer to products that maintain fabric care by effectively eliminating unpleasant smells without compromising fabric quality. For instance, in September 2022, Procter & Gamble, a US-based consumer goods corporation, launched Rinse & Refresh, a fabric rinse solution crafted to effectively eliminate odor-causing residues and hard water metal buildup embedded in fibers. It serves as a laundry detergent enhancer and aids in eliminating residues and odors, resulting in fabrics that are noticeably fresher, softer, and brighter. This formula is devoid of dyes and strong perfumes, ensuring it is gentle on sensitive skin and ideal for laundering baby clothes.
Fabric Care Market Players
Major companies operating in the fabric care market report are Godrej Consumer Products Ltd.; The Procter & Gamble Company; Unilever Group; Henkel AG & Co. KGaA; Colgate-Palmolive; Reckitt Benckiser Group PLC; S. C. Johnson & Son Inc.; Kao Corporation; Wipro Enterprises Limited; Amway India Enterprises Pvt. Ltd.; Huntsman International; The Clorox Company; LG Household & Health Care Ltd.; Churc*h & Dwigh*t Co. Inc.; Alicorp S.A.A.; Lion Corporation; Dabur India Limited; Guangzhou Blue Moon Industry Co. Ltd.; CHT Germany GmbH; Jyothy Laboratories Limited; Golrang Industrial Group; The National Detergent Company SAOG; Team Thai Ltd; RSPL Group Pvt. Ltd; Wings Corporation; Scott's Liquid Gold Inc; Guangzhou Liby Group Co. Ltd; Whealth fields Lohmann Guangzhou Ltd.; Nice Group Co. Ltd.
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Largest And Fastest Growing Region In The Market
Asia-Pacific was the largest region in the fabric care market in 2023. The regions covered in the fabric care market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Fabric Care Market Report Structure
3. Fabric Care Market Trends And Strategies
4. Fabric Care Market - Macro Economic Scenario
5. Fabric Care Market Size And Growth
…..
27. Fabric Care Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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