Press release
Fabric Care Market on Track for Strong Growth, Estimated to Grow at 6% CAGR Through 2029
Fabric Care
What Is the Expected CAGR for the Fabric Care Market Through 2025?
Over the recent years, the fabric care market has been seeing robust growth. It is projected to expand from a size of $111.16 billion in 2024 to $118.06 billion in 2025, with a compound annual growth rate (CAGR) of 6.2%. The growth observed in the historical period can be credited to factors such as population increase, a surge in the purchase of high-end products, an uptick in the disposable income of consumers, enhancements in living standards, a growing inclination towards e-commerce, and a rising use of clothing.
What's the Projected Size of the Global Fabric Care Market by 2029?
Strong expansion is anticipated for the fabric care market over the coming years, with expectations of it reaching a value of $148.97 billion by 2029, portraying a compound annual growth rate (CAGR) of 6.0%. The predicted growth within this timeframe can be linked to the rising demand for laundry care products that are both sustainable and environmentally friendly, an increased focus on health and hygiene, heightened consumer enlightenment, and improving consumer lifestyles. Key trends within this prediction period cover intelligent fabric care solutions, innovations in sustainable packaging, the evolution of fabric care products, and the advent of washing machines and detergents, as well as advancements such as automatic washing machines, dryers, and fabric conditioners.
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Top Growth Drivers in the Fabric Care Industry: What's Accelerating the Market?
The anticipated augmentation in lifestyle enhancements is predicted to drive the progression of the fabric care market. Lifestyle enhancement encapsulates positive alterations in various life facets to heighten overall wellness. Numerous causes, including health consciousness, education, and societal evolutions, can be attributed to this uplift in lifestyle advancements. Fabric care is crucial for upkeeping cleanliness, hygiene, assurance, comfort, and durability of clothing, all which contribute to a refined lifestyle. For instance, in July 2023, the Office for National Statistics (ONS), a UK-based independent compiler of official statistics, detailed that roughly 91.0% of women and 81.7% of men indicated applying some or substantial lifestyle variations. Those within the age bracket of 16 to 24 years exhibited a rate of 77.2% when it came to initiating lifestyle changes, whilst those aged between 50 to 64 years showed the apex ratio at 90.7%. Consequently, the elevation in lifestyle improvements is steering the growth of the fabric care market.
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What Trends Will Shape the Fabric Care Market Through 2029 and Beyond?
Leading businesses in the fabric care market concentrate on creating new products, like odor removers, to satisfy customer needs for efficient and convenient options. Odor removers denote items that help in the upkeep of fabric care, effectively eradicating foul smells without damaging the fabric's quality. For example, in September 2022, Procter & Gamble, a consumer goods corporation based in the US, unveiled Rinse & Refresh. This fabric rinse solution was designed to successfully remove odiferous residues and the buildup of hard water metals trapped in fabric fibers. Acting as an improvement to laundry detergent, it aids in the removal of residues and smells, leading to fabrics that are noticeably fresher, softer, and brighter. The mixture contains no dyes or strong scents, ensuring it is mild on sensitive skin and perfect for washing baby garments.
What Are the Main Segments in the Fabric Care Market?
The fabric caremarket 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
Subsegments:
1) By Fabric Detergents: Liquid Detergents, Powder Detergents, Pods And Tablets
2) By Fabric Softeners Or Enhancers: Liquid Fabric Softeners, Dryer Sheets, Fabric Softener Crystals
3) By Stain Removers Or Bleach: Liquid Stain Removers, Powdered Stain Removers, Bleach (Liquid And Powder)
4) By Other Fabric Care Products: Fabric Fresheners, Ironing Aids, Anti-Static Sprays
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Which Top Companies are Driving Growth in the Fabric Care Market?
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.; 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.
Which Regions Will Dominate the Fabric Care Market Through 2029?
Asia-Pacific was the largest region in the fabric care market in 2024. The regions covered in the fabric care market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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