As per Future Market Insights (FMI), the global laundry care market is estimated to reach a valuation of US$ 25 Bn – US$ 35 Bn in 2021. The market is poised to register growth at 5% CAGR through 2021-2031.
| Attribute | Details |
| Laundry Care Market Estimated Size in 2021 | US$ 25 Billion – US$ 35 Billion |
| 2020-2021 (year-on-year growth) | ~2.5% |
| Top Players Share in 2021 | ~25%-35% |
| Laundry Care Market Value sCAGR (2021-2031) | ~5% |
Sales of liquid detergents are anticipated to rise as consumers choose them more frequently because they offer improved compatibility with washing machines and clean delicate fabrics more effectively without causing damage.
In response to the growing demand for organic homecare products, some of the biggest manufacturers in the laundry care market are launching liquid detergents with plant-based ingredients. Due to this, it is anticipated that volume sales of laundry care products will grow at a CAGR of 4% between 2021 and 2031.
The development of more sophisticated, automatic washing machines that work with both detergent pods and liquid detergent would boost demand for liquid laundry detergent. Growing demand for environmentally friendly and plant-based liquid detergents, particularly in India, China, and South Korea, is anticipated to have a favourable impact on the growth in the market.
In the past, the demand for laundry care products increased between 2016 and 2020 at a CAGR of 4%. But with the unprecedented COVID-19 epidemic and rising hygienic consciousness, demand for organic liquid detergents and fabric softeners has skyrocketed.
The report claims that the growth of e-commerce platforms and the promotion of liquid detergents and laundry care items derived from plants will continue to drive up demand for laundry care goods.
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Key Takeaways from FMI’s Laundry Care Market Study
- Based on product type, the fabric softeners segment is poised to expand at over 5.6% CAGR 2021
- In terms of source type, synthetic segment is expected to register growth at 5.1% CAGR during the forecast period
- Sales of powder laundry care products are expected to reach US$ 38.5 Bn between 2021 and 2031
- South Korea and Japan are expected to account for over 22% and 34% of global sales in 2021, respectively
- India and China are expected to spearhead the growth of South and East Asia laundry care market, respectively during the forecast period
Competitive Landscape
As per FMI, top players are expected to account for over 25%-35% of global market share in 2021. Key players are focusing on collaboration with e-commerce and local vendors to increase their revenue.
Some of the key players are also introducing sustainable and plant-based laundry care products, targeting vegan consumers, to create lucrative revenues.
For instance, In September 2020, Woolite, a subsidiary of Reckitt Benckiser Group PLC, announced the launch of stain remover wipes which is made up of non-toxic ingredients and with eco-friendly packaging effective on all kinds of stain.
Some of the players operating in laundry care market profiled by FMI are Procter & Gamble Co., Unilever PLC, Colgate-Palmolive Company, Henkel AG & Co. KGaA, Reckitt Benckiser Group PLC, Amway Corporation, Kao Corporation, S.C. Johnson & Son Inc., LG Household & Health Care Ltd., Golrang Industrial Group, Lion Corporation, Church & Dwight Co., Inc. and Alicorp S.A.A. among others
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Laundry Care Market by Category
Product Type:
- Fabric Softeners
- Laundry Detergents
- Others
Distribution Channel:
- Wholesaler/Distributors
- Supermarket/Hypermarket
- Convenience Stores
- E-Commerce
- Grocery Stores
- Others
Source Type:
- Synthetic
- Organic
- Others
Form Type:
- Powder
- Cake/Block
- Liquid
- Others
Region:
- North America
- Latin America
- Western Europe
- Eastern Europe
- Asia Pacific excluding Japan
- Middle East & Africa
- Japan
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Get Valuable Insights on Laundry Care Market
Future Market Insights, in its updated report, presents an exhaustive analysis on the global laundry care market, covering historical demand data and forecast figures for the period between 2021 and 2031. The study divulges compelling insights on growth drivers and market potential in detailed segmentation basis of product type (fabric softeners, laundry detergents, and others), source type (synthetic, organic, and others), form type (powder, cake/block, liquid, others), distribution channel (wholesaler/distributors, supermarket/hypermarket, convenience stores, ecommerce, grocery stores, and others) across seven major regions including North America, Latin America, Western Europe, Eastern Europe, Asia Pacific excluding Japan, Middle East & Africa, and Japan.
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About FMI
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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