The Liquid Laundry Detergent Market size is predicted to reach USD 33.24 billion by 2027, exhibiting a CAGR of 5.8% during the forecast period. The rising shift from powder detergent to liquid detergent owing to its formula to remove tough stains in one wash will spur demand for the market, states Fortune Business Insights in a report, titled “Liquid Laundry Detergent Market Size, Share & Industry Analysis, By Application (Household, and Industrial & Institutional, {Laundry & Dry Cleaning Service, Hotel & Other Lodging, Healthcare, Textile Industry, and Others}), and Regional Forecast, 2020-2027” the market size stood at USD 21.25 billion in 2019.
What does the Market Report Offer?
The market report offers an exhaustive study of several factors such as drivers, restraints, challenges, and opportunities that will affect the growth of the market in the forthcoming years. The report covers regional demographics that include qualitative and quantitative information about the regions that are further divided into nations that are contributing to the growth of the market between 2019 and 2026. Furthermore, the competitive landscape has been discussed in-depth that include information of several players operating in the market. Moreover, information on the adoption of strategies such as merger and acquisition, collaboration, partnerships, and joint ventures by the companies that will drive the growth of the market has been included during the projected horizon.
Market Driver:
Heavy Demand for Automatic Washing Machines to Propel Market
The rising necessity for washing machines in the residential sector is a key factor driving the market. The growing demand for fully automatic washing machine owing to its user-friendliness and low time consumption time will subsequently aid the expansion of the market during the forecast period. The ability to both wash and whirl in fully automatic washing machines along with being eco-friendly will promote its use, which, in turn, will foster the growth of the market. The evolvement from semi-automatic to fully automatic washing machine owing to its capacity to offer efficient and stain removal operations will have a positive impact on the market. The growing popularity of automatic machines in the household and the residential sector will drive the market. Moreover, the increased spending on household accessories and machines will consequently boost the market in the foreseeable future. In addition, the introduction of innovative products by major brands will spur opportunities for the market in the forthcoming years. For instance, Kao Corporation a Japanese chemical and cosmetics company announced the launch of concentrated liquid laundry detergent "Attack ZERO.” The new concentrated liquid detergent is the first of Kao's exclusively designed product series formulated as its key ingredient.
Browse Summary of This Research Report with Detailed Table of Content: https://www.fortunebusinessinsights.com/liquid-laundry-detergent-market-102962
List of the Key Companies Profiled in the Liquid Laundry Detergent Market Research Report are:
- Procter & Gamble (U.S.)
- Unilever (U.K.)
- Lion Corporation (Japan)
- KAO CORPORATION (Japan)
- Henkel AG & Co. KGaA (Germany)
- Church & Dwight Co., Inc. (U.S.)
- Reckitt Benckiser Group plc (U.K.)
- Wipro Consumer Care and Lighting (India)
- Seventh Generation Inc. (U.S.)
- Guangzhou Blue Moon Industrial Co., Ltd. (China)
- Other Key Players
Regional Analysis:
Rapid Urbanization to Augment Growth in Asia Pacific
The North America market size stood at USD 6.94 Billion in 2019 and is expected to grow rapidly during the forecast period. The growth in the region is attributed to the surge in the hospitality and textile industries. The rising inclination towards a healthy lifestyle coupled with concerns regarding home care hygiene will accelerate the healthy growth of the market. The rising household spending will further influence growth in the region. Asia Pacific is predicted to dominate the market during the forecast period owing to the increasing product awareness in the emerging nations. The rapidly evolving industries in the developing countries such as India and China will have a tremendous impact on the market. The rapid urbanization and high demand for washing machines will create lucrative opportunities for the market in the foreseeable future.