Household Cleaning Products Market to Touch USD 334.16 Billion by 2029 | With Exhibiting a CAGR of 4.4%
Key Companies covered in household cleaning products market are Church & Dwight Co. Inc. (U.S.), Colgate-Palmolive Co. (U.S.), Godrej Consumer Products Ltd. (India), Henkel AG & Co. KGaA (Germany), Kao Group (Japan), The Procter & Gamble Co. (U.S.), Reckitt Benckiser Group Plc. (U.K.), S. C. Johnson & Son Inc. (U.S.), Goodmaid Chemicals Corporation (Malaysia), Unilever NV (U.K.) and more players profiled.
Pune, India, June 06, 2023 (GLOBE NEWSWIRE) — The global household cleaning products market size stood at USD 235.76 billion in 2021. The market is expected to surge from USD 247.94 billion in 2022 to USD 334.16 billion by 2029 at 4.4% CAGR during the forecast period. Fortune Business Insights™ has deep-dived these inputs in its latest research report.
According to the study, the household cleaning products industry could be sought-after across emerging and advanced economies. The trend is largely attributed to the demand for hygienic products, including floor, toilet, and bathroom cleaners. Meanwhile, the COVID-19 pandemic has potentially disrupted the industry, prompting innovations and technological advancements globally.
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The list of Vendors in the Household Cleaning Products Market is the following:
- Church & Dwight Co. Inc. (U.S.)
- Colgate-Palmolive Co. (U.S.)
- Godrej Consumer Products Ltd. (India)
- Henkel AG & Co. KGaA (Germany)
- Kao Group (Japan)
- The Procter & Gamble Co. (U.S.)
- Reckitt Benckiser Group Plc. (U.K.)
- S. C. Johnson & Son Inc. (U.S.)
- Goodmaid Chemicals Corporation (Malaysia)
- Unilever NV (U.K.)
Report Scope & Segmentation:
| Report Coverage | Details |
| Forecast Period | 2022-2029 |
| Forecast CAGR | 4.4% |
| 2029 Value Projection | USD 334.16 Billion |
| Market Size in 2021 | USD 235.76 Billion |
| Historical Data | 2018-2020 |
| No. of Pages | 124 |
| Report Coverage | Revenue Forecast, Company Profiles, Competitive Landscape, Growth Factors, and Latest Trends |
| Segments Covered |
|
| Regions Covered |
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| Household Cleaning Products Market Growth Drivers | 0.5 mm to Lead as it Provides Optimum Performance |
| Increasing Demand from Various End-use Industries to Propel the Product Demand |
Browse Detailed Summary of Research Report with TOC:
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Segments
Laundry Detergents to Remain Dominant with Growing Need for Clean Clothes
With respect to product type, the market is segregated into laundry detergents, surface cleaners, dishwashing products, toilet cleaners, and others. The laundry detergent segments could contribute notably toward the global market share due to the need for hygienic clothes and product launches. For instance, in April 2021, Unilever Group joined hands with LanzaTech and India Glycol to roll out the world’s first laundry capsule from industrial carbon emissions.
Report Coverage
The report offers a comprehensive perspective of the market size, share, revenue, and volume. It has deep-dived into SWOT analysis. Quantitative and qualitative assessments have provided a holistic view of the market. The primary interviews validate assumptions, findings, and prevailing business scenarios. The report also includes secondary resources such as annual reports, press releases, white papers, and journals.
COVID-19 Impact
Unprecedented Demand for Cleaning Products Boost Growth
The onslaught of the COVID-19 outbreak had a pressing influence on most industries, including cleaning products. The emergence of the pandemic prompted consumers to prioritize surface cleaners and toilet cleaners. For instance, Henkel, P&G, and Reckitt Benckiser witnessed an exponential rise in demand for disinfection goods in 2020. The prevailing trend could prompt major companies to rethink their strategies and inject funds into technological advancements.
Drivers and Restraints
Traction for Natural Products to Drive Innovations
Industry participants expect the trend for organic products to foster the household cleaning products market share during the forecast period. Lately, green products have set the trend across developed and developing economies. Soaring demand for natural products could complement the sustainability trend in the ensuing period. Moreover, surface cleaners, laundry detergents, and toilet cleaners could witness bullish demand. With the use of chemical products witnessing a plunge, stakeholders are poised to inject funds into organic products. However, lack of customer retention and changing customer behavior may challenge leading companies to boost their portfolios.
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Regional Insights
Asia Pacific to Witness Investment Galore with Trend for Bio-friendly Products
Stakeholders expect the Asia Pacific market to grow following the trend of shifting preference for bio-friendly products. The burgeoning population across China and India has encouraged manufacturers and suppliers to emphasize emerging markets. Consumers have exhibited traction for organic and natural cleaning products amidst environmental concerns from toxic chemicals. To illustrate, in September 2020, Proklean Technologies introduced green floor cleaners and liquid detergents in the Indian market.
The North America household cleaning products market growth could be noticeable in the wake of surging demand for safe and efficient home care products. The demand for laundry detergents, dishwashing products, and surface cleaners is expected to be pronounced across the U.S. and Canada. The trend will encourage investments across the region, prompting leading companies to propel their portfolios.
The Europe market outlook will be strong following the surge in R&D activities to streamline eco-friendly household cleaning products. Besides, rigorous regulations have led manufacturers to keep up with the increased level of product quality. The presence of leading companies will also solidify the regional market in the global landscape.
Competitive Landscape
Industry Players Invest in Organic and Inorganic Strategies to Boost Portfolios
Prominent players could inject funds into mergers & acquisitions, product rollouts, technological advancements, and R&D activities. Besides, major companies could invest in innovations and product offerings in the ensuing period.
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Detailed Table of Content:
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Emerging Trends
- Key Insights
- Key Emerging Trends – For Major Countries
- Industry SWOT Analysis
- Regulatory Analysis
- Recent Industry Developments – Policies, Partnerships, New Product Type Launches, and Mergers & Acquisitions
- Qualitative Insights – Impact of COVID-19 on the Global Household Cleaning Products Market
- Supply Chain Challenges
- Steps were taken by Companies to overcome this impact
- Potential opportunities due to the COVID-19 outbreak
TOC Continued…!
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Key Industry Developments
- February 2022: P&G introduced a new ‘power blast dish spray’ under its Gain brand. The product is enhanced with aroma technology, which cleans the dishes and offers a sensorial experience with its fragrance.
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