Increase in penetration of washing machines & dishwashers, shift in consumer preference toward liquid detergent, and rapid product innovations to improve performance are expected to propel the growth of the global liquid detergent market
PORTLAND, Oregon, March 18, 2019 /PRNewswire/ -- Allied Market Research recently published a report, titled, "Liquid Detergent Market by Nature (Organic and Conventional), Application (Laundry and Dishwashing), Distribution Channel (Online Sales Channels, Supermarket & Hypermarket, Departmental & Convenience Stores, and Independent Grocery Stores), and End User (Residential and Commercial): Global Opportunity Analysis and Industry Forecast, 2018-2025". According to the report, the global liquid detergent market was pegged at $27.41 billion in 2017 and is projected to garner $40.48 billion by 2025, registering a CAGR of 5.2% during the period 2018-2025.
Shift in consumer preference toward liquid detergent, rise in penetration of washing machines & dishwashers, and improved performance & continuous product innovation are the major drivers of the global liquid detergent market. However, high price of liquid detergent and availability of counterfeit products hamper the market growth. On the contrary, improvements in the packaging format easing the convenience for handling of liquid detergent and surge in consumer inclination toward healthy lifestyle are expected to create lucrative opportunities in the near future.
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Organic segment to manifest fastest growth through 2025
The organic segment is expected to manifest the fastest CAGR of 6.6% during the forecast period, owing to high inclination toward products made with natural ingredients among health-conscious consumers. However, the conventional segment held the largest share in 2017, contributing more than 90% of the total market share.
Dish-washing segment to manifest fastest growth through 2025
The dish-washing segment is expected to portray the fastest CAGR of 6.1% during the study period, owing to rise in penetration of dishwashers and introduction of liquid detergents with exotic fragrances. However, the laundry segment held the largest share, contributing nearly three-fourths of the total market share, owing to high penetration of washing machine in the developed countries.
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Supermarket and hypermarket to dominate the market
The supermarket and hypermarket segment dominated the market in terms of revenue in 2017, contributing more than 70% of the total market as they are most preferred sales channels owing to their efficient supply chain and streamlined large scale operation that reduces per unit costs. However, the online sales channels segment is expected to register the fastest CAGR of 7.3% through 2025, owing to increase in penetration of internet coupled with rising number of home delivery. The report also includes an analysis of the other segments such as departmental & convenience stores and independent grocery stores.
North America region to reap the largest
The North America region held the largest share in 2017, contributing about two-fifths of the market, owing to high penetration of washing machines and dishwashers in the region. However, the Asia-Pacific region is expected to manifest the fastest growth, registering a CAGR of 8.5% during the forecast period. The report includes the other regions such as Europe and Latin America, Middle East and Africa (LAMEA).
Major market players
The report analyzes the key market players including Procter & Gamble, Henkel Company KGaA, S. C. Johnson & Son, Inc., Reckitt Benckiser Group plc, The Clorox Company, Church & Dwight, Unilever Plc, Amway Corporation, Colgate-Palmolive, and Godrej Consumer Products.
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