The laundry care market size refers to the industry involved in the production, distribution, and sale of products and services related to laundry and fabric care. This includes laundry detergents, fabric softeners, stain removers, laundry additives, and related appliances and services.
The laundry care market is a significant sector within the consumer goods industry, catering to the increasing demand for effective and convenient laundry solutions. With the growing emphasis on cleanliness, hygiene, and fabric maintenance, the market has experienced substantial growth in recent years.
The market for laundry care is anticipated to increase significantly in the approaching years as a result of the growing demand for environmentally friendly and ecological laundry care products. The importance of living healthier lifestyles is expected to grow, and consumer worries about their health and hygienic living-including the need for clean clothes-will increase in the years to come.
Sales of laundry care grew at 5.4% CAGR between 2018 and 2022. Sales uptick was reported in the laundry care market during the FQ-20 as consumers grew hyper-aware about infection and harmful effects of unhygienic clothes amidst pandemic.
Accelerate Your Success: Unlock the Secrets of the Laundry Care Market - Download the Sample Report! https://www.futuremarketinsights.com/reports/sample/rep-gb-4880
Around US$ 98.2 billion was the estimated size of the global laundry care market in 2022. The key driver of the rise of the global market is the rising demand for laundry care products as a consequence of the growing population in emerging areas. By 2023, it is expected to have generated US$ 180.3 billion, with a CAGR of 5.7% from 2023 to 2033.
The market for laundry care products including detergents along with fabric conditioners is driven by the steadily rising demand for laundry services in important industries like hospitality, healthcare, and food services. A wide range of solutions for consumers are now available at reasonable prices as a consequence of the market's abundance of laundry service providers.
Key Takeaways from the Market Study
- Between 2018 and 2022, sales of laundry care increased at a CAGR of 5.4%.
- In 2022, it is predicted that the fabric softeners category would increase its market share to 23%.
- Through 2023, the organic source type sector is anticipated to grow at a 5.5% CAGR to reach US$ 38.8 billion.
- The liquid detergent market is anticipated to grow at a rate of above 5.5% CAGR through 2023, representing an additional potential of US$58.4 Bn.
- The market for laundry care products in India will grow at a 5.8% CAGR between 2023 and 2033.
- According to estimates, the United States dominates the global market for laundry care with about 17.6% of total sales.
“The increasing need for laundry care products as a result of the expanding population in emerging regions is the main factor driving the growth of the worldwide market. Customers are further enticed to shell out more on textile care and cleaning supplies by the availability of a variety of wash care solutions.” remarks an FMI analyst.
For any Queries Linked with the Report, Ask an Analyst! https://www.futuremarketinsights.com/ask-the-analyst/rep-gb-4880
Competitive Landscape
The market for laundry care is very profitable and is dominated by a large number of domestic and foreign companies. Key businesses are using methods like the introduction of laundry care products featuring multi-functional characteristics to obtain an advantage in the market. Certain competitors in the laundry care sector are providing organic and natural goods in eco-friendly packaging to obtain a competitive edge.
Other businesses are focusing on growing economies like India, China, as well as South Korea owing to the unexplored prospects in these nations. They are also working with regional suppliers, e-commerce sites, and grocery shops to establish dominance in these areas and hold the lead in the global market.
Prominent players in the laundry care market are:
- Procter Gamble Co.
- Unilever PLC
- Colgate-Palmolive Company
- Henkel AG Co. KGaA
- Reckitt Benckiser Group PLC
- Amway Corporation
- Kao Corporation
- C. Johnson Son Inc.
- LG Household Health Care Ltd
- Golrang Industrial Group
- Lion Corporation
- Church Dwight Co.
- Alicorp S.A.A.
- Others
More Valuable Insights Available
Future Market Insights offers an unbiased analysis of the global laundry care market, providing historical data for 2018 to 2022 and forecast statistics from 2023 to 2033.
To understand opportunities in the laundry care market, the market is segmented on the basis of laundry care by product type (fabric softeners, laundry detergents), distribution channel (wholesaler/distributors, supermarket/hypermarket, convenience stores, e-commerce, grocery stores) and across five major regions (North America, Latin America, Europe, Asia Pacific and Middle East Africa).
Customize Your Report: Tailor the Exclusive Insights to Your Laundry Care Market Strategy! https://www.futuremarketinsights.com/customization-available/rep-gb-4880
