Press release
Global Laundry Care Market: Segmentation, Regional Forecast and Vendor Insights
As per the forecast of Future Market Insights, the global laundry care market is estimated to be valued at about US$ 75,580 Mn in the year 2017 and is estimated to touch a value of about US$ 126,987 Mn in the year 2027, registering a 5.3% CAGR during the period of assessment.Growing health and hygiene awareness in the APEJ region
Practicing good hygiene is the first step towards good health. One of the most effective way to protect ourselves and others from disease is by maintaining personal hygiene. Maintaining hygiene in the clothes which one wears is an essential aspect of personal hygiene and thus changing clothes daily for cleaning is recommended and this fuels the global laundry care market over the assessment period.
Growing FMCG industry in the APEJ region
Income distribution acts as an essential guideline for FMCG companies in the emerging economies. As the disposable income increases, customers switch their purchases from basic food products to FMCG products along with products that save labour, such as laundry appliances and white goods. Additionally, APEJ region will demonstrate the strongest potential amongst all the regions globally in the FMCG sector.
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Liquid detergent overpowers powdered detergent
The preferences and choices of the consumers vary with different demographics and external factors. The laundry care market is an important part of the FMCG sector, where a number of laundry care products are available. The manufacturers, in order to attract consumers, constantly innovate their products and this is the reason for the existence of liquid detergents.
The innovation of liquid detergent and its effect on cleaning supported by the quick and effective results have made it popular amongst the consumers. This correspondently affects the global demand for powdered detergents. The issue with the powdered detergent is the lack of standardization in measuring the amount of detergent to be used. This issue was resolved through liquid detergents and they are expected to gain traction in the market.
Innovation in packaging to enhance the safety of laundry care products
The global laundry care market deals with packaging as its major component. The companies in recent time have focused on the innovative ways and methods of packaging, owing to the issues of handling the detergents and other laundry care products by children. The laundry products contain high proportion of chemicals which are harmful for consumption. Children are prone to the accidents related with the handling of such laundry care products. Thus companies are focussing to offer innovative and safe packaging to their customers.
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Global Laundry Care Market Analysis by Region
APEJ market is the largest market in global laundry care market, which is estimated to represent US$ 20,599.8 Mn, or 27.3% share of the total market in 2017 and US$ 35,809.5 Mn, or 28.2% in 2027, registering a CAGR of 5.7% over the forecast period of 2017–2027. APEJ market is expected to gain 94 BPS owing to shifting of manufacturing industries to China along with growing penetration of washing machines in developing countries.
North America market is estimated to account for 20.6% revenue share of the global laundry care market by 2017 end and is expected to gain 25 BPS in its market share by 2027 over 2017. Latin America market is estimated to account for 8.1% revenue share of the global laundry care market by 2017 end and is expected to lose 29 BPS in its market share by 2027 over 2017.
About Us
Future Market Insights is the premier provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in London, the global financial capital, and has delivery centres in the U.S. and India.
FMI’s research and consulting services help businesses around the globe navigate the challenges in a rapidly evolving marketplace with confidence and clarity. Our customised and syndicated market research reports deliver actionable insights that drive sustainable growth. We continuously track emerging trends and events in a broad range of end industries to ensure our clients prepare for the evolving needs of their consumers.
FMI’s team of over 200 research analysts provides market intelligence at global, regional, and country level. Our analysts are committed to provide independent insights, relying on our cognitive defusion training module, which conditions them to look at data objectively and unbiasedly.
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