This FREE sample includes market data points, ranging from trend analyses to market estimates & forecasts. See for yourself.
Latin America Detergent Products Market Size, Share, & Trends Analysis Report (2023 – 2030)
GET A FREE SAMPLE
Report Overview
The Latin America detergent products market was valued at USD 14.3 billion in 2022 and is projected to expand at a CAGR of 4.1% from 2023 to 2030. The growing demand for detergents in the region is attributed to the increasing awareness about hygiene and health among population. Moreover, the increasing number of products available in the market such as laundry detergents and dishwashing products, is also driving the market growth. Furthermore, the rising number of working women population in the region has led to an increased demand and usage of detergents.
The region is also witnessing a rise in the number of companies launching new and innovative products to target the increasing demand from the population. For instance, in June 2021, Unilever launched a new laundry detergent called Omo Ultra Concentrated. It is a concentrated formula that comes in a new small-sized bottle, which is designed to provide seven times more washing power than regular detergent.
Furthermore, the increasing trend of premiumization is also driving the demand for products with mild and natural ingredients. For instance, in February 2021, Henkel launched a new eco-friendly range of laundry detergents under the brand name ‘Nature’. The new range of detergents is made with natural ingredients, like plant-based enzymes, and is free of preservatives and artificial fragrances.
The market is further driven by the presence of lucrative promotional activities such as discounts, offers, and loyalty programs. Additionally, the growing demand for these products through online channels is another factor that is providing a significant boost to the market. The growing penetration of e-commerce and rising use of smartphone applications are making shopping easier for customers, thus increasing the demand for detergent products.
Moreover, the rising trend of convenience and sustainability is also fueling the market growth. Companies are now focusing on providing products in smaller packages that are easy to use and store, and are also eco-friendly. In June 2021, Colgate launched a new product called ‘Small and Mighty’, which is a concentrated liquid laundry detergent in a small, easy to use bottle. Furthermore, the growing demand for organic detergents is also boosting the market growth. For instance, in May 2021, Eco-Me launched a new range of plant-based detergents. The new products are made of natural ingredients, such as essential oils, aloe vera, and chamomile, and are free from harsh chemicals and fragrances.
Product Insights
The laundry detergent segment accounted for the largest share of the Latin America detergent products market in 2020. This growth can be attributed to the rising population, rapid urbanization, and increasing disposable income of consumers. According to an article published by Statista, in April 2020, the total population of Latin America was around 652 million. Moreover, the development in the manufacturing sector, and the increasing demand for detergent products are also expected to drive the market for detergents in the coming years.
The fabric softener segment is anticipated to register the highest CAGR over the forecast period. This growth can be attributed to increasing consumer preference for convenience, rising disposable incomes, and increasing consumer awareness regarding the benefits of fabric softeners. In addition, increasing consumer preference for eco-friendly products is also driving the market growth. According to an article published by Euromonitor International, in April 2021, the demand for eco-friendly detergents is increasing steadily in Latin America.
Distribution Channel Insights
According to the report, the supermarkets & hypermarkets segment held the major share of over 38.7% in 2022. This is mainly due to the increasing presence of supermarkets & hypermarkets in the Latin American region. As per a survey conducted by IRI in 2020, it was found that 56% of shoppers in Latin America prefer to buy detergents from supermarkets & hypermarkets. These establishments provide a reasonable selection of products and assist customers in making rapid purchasing decisions for the required detergent product.
The online segment is anticipated to expand at the highest CAGR of 13.2% over the forecast period. The e-commerce development in the Latin American region has been rapid, with companies launching online websites and shopping apps to increase their brand visibility among consumers. For instance, in June 2021, Amazon launched Amazon Pantry, an online store in Latin America, exclusively offering products related to household cleaning, laundry, and kitchen. In addition, the store offers discounts, free deliveries, and a wide range of products.
Type Insights
The powder detergent segment accounted for the largest revenue share of 65.3% in 2022. The powder detergent segment is mainly driven by the growing demand from consumers in countries such as Mexico and Brazil, owing to the lower prices and longer shelf life of the product. Moreover, the increasing focus of manufacturers on launching new products with enhanced properties such as stain removal, softening, and bleaching is further propelling the segment growth. For instance, in March 2021, Procter & Gamble launched Tide Ultra OXI, a powder detergent with oxygen-based bleach to provide brighter and whiter clothes with a single wash.
The liquid detergent segment is projected to expand at the highest CAGR of 3.7% from 2021 to 2027. The demand for liquid detergents is increasing due to their convenience of use and effective cleaning properties. Moreover, the growing demand from Latin America countries such as Mexico, Brazil, and Peru is likely to boost the segment growth during the forecast period. Furthermore, manufacturers are focusing on launching innovative products to gain a competitive advantage. For instance, in July 2019, Coty Inc. launched a liquid detergent under the brand name Downy with a unique fragrance to provide a long-lasting freshness to the clothes.
Regional Insights
Latin America is expected to witness a significant growth in the detergent products market during the forecast period. Growing urbanization and rising disposable income are some of the key factors driving the growth of the market in the region. In addition, increasing population, stringent government regulations, and rising awareness about the harmful impact of using traditional detergents are some of the other factors contributing to the growth of the market in the region.
Moreover, with the increasing number of working women in the region, the demand for laundry care products has increased significantly. Brazil is the largest market for detergent products in Latin America in terms of revenue, followed by Mexico and Argentina. Furthermore, the introduction of innovative products and the increasing presence of key players in the region are expected to create lucrative opportunities for the market in the coming years. For instance, in May 2021, Surf launched a new detergent product in Mexico, featuring a new formula that is effective even at low temperatures.
Financial Projections
In this part of the Latin America Detergent Products business plan we will provide a detailed breakdown of all income and expense categories of the business. These forecasts include cash flow projections and capital requirements for this business. Usually, these projections are drafted for a 5-year period.
Revenue Assumptions
The main source of revenues for a Latin America Detergent Products business comes from sales of its products. Here you will find a list with a description of each of them, such as laundry detergents, dish detergents, fabric softeners, and other possible products.
Projecting Expenses
In this section, all the regular expenses related to keeping the Latin America Detergent Products business running will be described. The list of operating expenses includes raw materials, packaging materials, transportation costs, storage costs, wages, utilities, insurance policies, advertising, and others.
Key companies & market share insights
Some of the major companies operating in the Latin America detergent market are increasingly focusing on product launches and expansion of the distribution channel to gain prominent visibility among consumers. Some of the initiatives are:
– In July 2022, Unilever launched its Surf Excel laundry detergent in Latin America. The product is designed to remove tough stains and dirt with ease.
– In October 2022, Procter & Gamble launched its Tide laundry detergent in Latin America. The product is designed to provide superior cleaning performance.
– In November 2022, Henkel launched its Persil laundry detergent in Latin America. The product is designed to provide superior stain removal and fabric care.
Some of the prominent players in the Latin America detergent market include:
– Unilever
– Procter & Gamble
– Henkel AG & Co. KGaA
– Kao Corporation
– Clorox Company
– Church & Dwight Co., Inc.
– Colgate-Palmolive Company
– SC Johnson & Son, Inc.
– S.C. Johnson
– Ecolab Inc.
Global Latin America Detergent Market Segmentation
This report forecasts growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2017 to 2030. For this study, Grand View Research has segmented the global Latin American detergent products market based on product, distribution channel, type, and region:
1. Product Outlook (Revenue, USD Million, 2017 – 2030)
– Laundry Detergents
– Fabric Softeners
– Bleach
– Others
2. Distribution Channel Outlook (Revenue, USD Million, 2017 – 2030)
– Supermarkets & Hypermarkets
– Online
– Others
3. Type Outlook (Revenue, USD Million, 2017 – 2030)
– Premium
– Mass
4. Regional Outlook (Revenue, USD Million, 2017 – 2030)
– Latin America
– North America
– Europe
– Asia Pacific
– Middle East & Africa
Frequently Asked Questions
[Q]: What are the Key Trends in Latin America Detergent Products Market?
[A]: The growing demand for biodegradable and eco-friendly detergent products is one of the key trends in the Latin America detergent products market. Consumers are increasingly becoming aware of the environmental impact of the traditional synthetic detergents and are demanding more sustainable products. Moreover, the growing demand for laundry detergents that are capable of providing superior cleaning results at lower temperatures is expected to create further growth opportunities in the market.
[Q]: What are the Growth Drivers of Latin America Detergent Products Market?
[A]: The increasing disposable income of consumers, rising population, and the growing demand for convenience are some of the key growth drivers of the Latin America detergent products market. Additionally, the growing demand for effective and innovative laundry detergents that are capable of providing superior cleaning results at lower temperatures is also driving the market growth.
[Q]: Who are the Key Players in the Latin America Detergent Products Market?
[A]: The key players in the Latin America detergent products market are Unilever, Colgate-Palmolive, Procter & Gamble, Henkel, and Church & Dwight Co. Inc. These companies are focusing on expanding their product portfolios, increasing their presence in the market, and launching new products to capture a greater market share.
[Q]: What are the Challenges in the Latin America Detergent Products Market?
[A]: The availability of counterfeit products and the high cost of raw materials are some of the key challenges faced by the Latin America detergent products market. Additionally, stringent government regulations regarding the use of chemicals in detergents is also hampering the growth of the market.
[Q]: What are the Opportunities in the Latin America Detergent Products Market?
[A]: The increasing demand for eco-friendly detergents is expected to generate significant opportunities in the Latin America detergent products market. Additionally, the increasing adoption of liquid detergents, powder detergents, and tablets is also expected to drive the market growth in the future.
Research Methodology
Impact Analytix employs a comprehensive and iterative research methodology focused on minimizing deviance in order to provide the most accurate estimates and forecasts possible. The company utilizes a combination of bottom-up and top-down approaches for segmenting and estimating quantitative aspects of the market. In Addition, a recurring theme prevalent across all our research reports is data triangulation which looks market from three different perspectives. Critical elements of the methodology employed for all our studies include:
Preliminary data mining
Raw market data is obtained and collated on a broad front. Data is continuously filtered to ensure that only validated and authenticated sources are considered. In addition, data is also mined from a host of reports in our repository, as well as a number of reputed paid databases. For a comprehensive understanding of the market, it is essential to understand the complete value chain and in order to facilitate this; we collect data from raw material suppliers, distributors as well as buyers.
Technical issues and trends are obtained from surveys, technical symposia, and trade journals. Technical data is also gathered from an intellectual property perspective, focusing on white space and freedom of movement. Industry dynamics with respect to drivers, restraints, and pricing trends are also gathered. As a result, the material developed contains a wide range of original data that is then further cross-validated and authenticated with published sources.
Statistical model
Our market estimates and forecasts are derived through simulation models. A unique model is created and customized for each study. Gathered information for market dynamics, technology landscape, application development, and pricing trends are fed into the model and analyzed simultaneously. These factors are studied on a comparative basis, and their impact over the forecast period is quantified with the help of correlation, regression, and time series analysis. Market forecasting is performed via a combination of economic tools, technological analysis, industry experience, and domain expertise.
Econometric models are generally used for short-term forecasting, while technological market models are used for long-term forecasting. These are based on an amalgamation of the technology landscape, regulatory frameworks, economic outlook, and business principles. A bottom-up approach to market estimation is preferred, with key regional markets analyzed as separate entities and integration of data to obtain global estimates. This is critical for a deep understanding of the industry as well as ensuring minimal errors. Some of the parameters considered for forecasting include:
Market drivers and restraints, along with their current and expected impact
Raw material scenario and supply v/s price trends
Regulatory scenario and expected developments
Current capacity and expected capacity additions up to 2030
We assign weights to these parameters and quantify their market impact using weighted average analysis, to derive an expected market growth rate.
Primary validation
This is the final step in estimating and forecasting our reports. Exhaustive primary interviews are conducted, face to face as well as over the phone to validate our findings and assumptions used to obtain them. Interviewees are approached from leading companies across the value chain including suppliers, technology providers, domain experts, and buyers so as to ensure a holistic and unbiased picture of the market. These interviews are conducted across the globe, with language barriers overcome with the aid of local staff and interpreters. Primary interviews not only help in data validation but also provide critical insights into the market, current business scenario, and future expectations and enhance the quality of our reports. All our estimates and forecast are verified through exhaustive primary research with Key Industry Participants (KIPs) which typically include:
Market-leading companies
Raw material suppliers
Product distributors
Buyers
The key objectives of primary research are as follows:
To validate our data in terms of accuracy and acceptability
To gain an insight into the current market and future expectations
To request a free sample copy of this report, please complete the form below.
We value your investment and offer free customization with every report to fulfil your exact research needs.
