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Laundry Care Products Market Size, Share, & Trends Analysis Report (2023 – 2030)
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Report Overview
The global laundry care products market was valued at USD 44.6 billion in 2022 and is projected to grow at a CAGR of 4.2% from 2023 to 2030. Growing environmental concerns and the increasing awareness of the need to conserve natural resources are driving consumers to opt for eco-friendly laundry care products. Rising demand for stain removal, detergent, and fabric softener products is further propelling the market growth.
The demand for laundry care products is expected to increase due to the increasing need for convenience and time-saving solutions. The rise in the number of dual-income households is driving the demand for laundry care products, as people are increasingly opting for time-saving solutions for their laundry tasks. The launch of new technologically advanced laundry care products, such as connected washing machines, is expected to further drive the market growth. For instance, in April 2021, Whirlpool Corporation launched a new connected washing machine, Cabrio Smart Washer, that can be monitored and controlled from anywhere using a compatible smartphone.
The demand for plant-based and organic laundry care products is increasing due to the increasing health consciousness among consumers. The rising demand for natural and organic products is driving the market growth. For instance, in March 2021, Seventh Generation launched a new plant-based laundry care range, which consists of liquid laundry detergent and fabric softener that is free from dyes and fragrances.
The government has taken various initiatives to promote the use of laundry care products. For instance, the Indian government has implemented a program called Swachh Bharat Abhiyan to promote the use of eco-friendly laundry care products. Furthermore, the rising awareness regarding the use of energy-efficient laundry care products is propelling the demand for energy-efficient washing machines and dryers.
The increasing presence of e-commerce platforms is further driving the demand for laundry care products. The availability of a wide range of laundry care products on e-commerce platforms is making it easy for consumers to compare prices and buy products. Furthermore, the growth in the number of promotional activities by vendors on e-commerce platforms is further boosting the market growth. For instance, in February 2021, Amazon launched a promotion campaign on its platform, offering discounts on different laundry care products.
Product Insights
The detergents segment dominated the market in 2019, and is expected to retain its dominance over the forecast period. Detergents are extensively used to remove stains, soil, and dirt from fabrics. They are also available in various forms such as powders, liquids, and tablets. Increasing concerns regarding laundry hygiene, rising demand for eco-friendly products, and rapid technological advancements are some of the key factors driving the demand for detergents globally.
The fabric conditioners segment is anticipated to expand at the fastest CAGR of 4.4% over the forecast period. Growing demand for fabric conditioners due to their ability to soften fabrics and reduce static cling is driving the segment growth. In addition, increasing awareness regarding the benefits of fabric softeners among consumers is further fueling the demand for fabric conditioners. According to an article published by the University of Salford, in May 2019, around 78% of people prefer to use fabric conditioners.
Distribution Channel Insights
The supermarkets & hypermarkets segment held a major share of 35.5% in 2022. The growth of the segment is mainly driven by the rising consumer inclination towards supermarkets & hypermarkets as a primary source to purchase laundry care products. According to a study by Supermarket News in 2020, consumers are more likely to buy laundry care products from supermarkets & hypermarkets as they provide a wide range of products at competitive prices. In addition, these stores also offer discounts and promotions on various brands.
The convenience stores segment is anticipated to expand at the highest CAGR of 10.7% over the forecast period. This segment is primarily driven by the increasing number of convenience stores, which are located in urban areas, and offer a wide range of laundry care products. These stores also offer convenience to consumers, as they are located close to residential areas and open for longer hours. In addition, convenience stores are targeting the younger population by offering discounts on the purchase of laundry care products.
Type Insights
The liquid laundry detergents segment accounted for the largest revenue share of 65.5% in the year 2022. The convenience offered by liquid laundry detergents such as easy usage, less residue, and long-lasting fragrance is driving their demand. Companies such as Unilever, Procter & Gamble, and Henkel are increasingly focusing on launching liquid laundry detergents with advanced features, such as concentrated solutions, stain removal, and color protection. For instance, in June 2022, Unilever launched a liquid detergent named Comfort Creations, which is a concentrated detergent with a long-lasting fragrance.
The powder laundry detergents segment is anticipated to expand at the highest CAGR of 8.5% over the forecast period. The rising demand for more affordable laundry care products has driven the growth of this segment. Companies are launching powder laundry detergents with advanced features such as enzyme-based solutions, fragrance, and softening agents, which is further driving the segment’s growth. For instance, in June 2022, Henkel launched Persil ProClean Original Scent powder detergent, which is an enzyme-based detergent with a long-lasting fragrance.
Regional Insights
Europe is anticipated to hold the largest share of the global market in 2022. This is attributed to the presence of leading players in the region, such as Unilever and Reckitt Benckiser, who offer a wide range of laundry care products. Moreover, the rising awareness of maintaining hygiene, particularly in the wake of the COVID-19 pandemic, is further propelling the growth of the market in the region. For instance, in January 2021, Unilever launched its new laundry care brand, Surf Hygiene+, with products that are designed to provide an extra layer of protection to garments, even after washing.
Asia Pacific is anticipated to witness the fastest growth in the coming years. Increasing disposable income and rising urbanization in the region are some of the key factors driving the growth of the market. Rising awareness of the health benefits of using laundry care products is also expected to boost the demand for these products in Asia Pacific. Additionally, in March 2021, P&G launched its first plant-based laundry detergent, Tide Purclean, in the U.S. and Canada, with plans to launch in Asia Pacific in the near future.
Financial Projections
In this part of the laundry care 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 your laundry care products business. Usually, these projections are drafted for a 5-year period.
Revenue Assumptions
The main source of revenues for a laundry care products business comes from the sale of laundry care products, such as detergent, fabric softener, bleach, and other cleaning solutions. Here you will find a list with a description of each of them and other possible sources of profit such as online sales, wholesale, and retail.
Projecting Expenses
In this section, all the regular expenses related to keeping the laundry care products business running will be described. The list of operating expenses includes purchasing supplies, wages, overhead, advertising, and marketing expenses. Other potential expenses include shipping and handling, rent, utilities, legal fees, and taxes.
Key companies & market share insights
Some of the key companies operating in the laundry care 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 June 2022, Procter & Gamble Co. launched the Tide Active + Bleach, a new laundry detergent with added bleaching agent.
– In August 2022, Unilever launched the Surf Liquid Detergent with a new formula designed to provide superior cleaning performance.
– In October 2022, Henkel AG & Co. KGaA launched the Persil detergent range, designed to deliver excellent stain removal results.
Some of the prominent players in the laundry care market include:
– Procter & Gamble Co.
– Unilever
– Henkel AG & Co. KGaA
– Church & Dwight Co., Inc.
– Seventh Generation, Inc.
– The Clorox Company
– Kao Corporation
– SC Johnson & Son, Inc.
– Reckitt Benckiser
– Edgewell Personal Care
Global Laundry Care 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 laundry care products market based on product, distribution channel, type, and region:
1. Product Outlook (Revenue, USD Million, 2017 – 2030)
– Laundry Detergents
– Fabric Softeners
– Stain Removers
– Bleach
– Others
2. Distribution Channel Outlook (Revenue, USD Million, 2017 – 2030)
– Supermarkets & Hypermarkets
– Online
– Others
3. Type Outlook (Revenue, USD Million, 2017 – 2030)
– Mass
– Premium
4. Regional Outlook (Revenue, USD Million, 2017 – 2030)
– North America
– Europe
– Asia Pacific
– Central & South America
– Middle East & Africa
Frequently Asked Questions
[Q]: What are the factors driving the laundry care products market?
[A]: The rising demand for convenience and the need for improved cleaning are key factors driving the growth of the global laundry care products market. The growing working population and rising disposable incomes in developing countries are expected to drive demand for laundry care products. Furthermore, the increasing trend of using green products and the development of innovative products are also expected to stimulate the growth of the laundry care products market over the forecast period.
[Q]: Who are the key players in the laundry care products market?
[A]: Key players in the laundry care products market include Procter & Gamble, Unilever, The Clorox Company, Church & Dwight Co., Inc., Henkel AG & Co. KGaA, Reckitt Benckiser Group plc, SC Johnson & Son, Inc., Lion Corporation, Kao Corporation, and The Sun Products Corporation.
[Q]: What type of laundry care products are in demand?
[A]: Laundry detergents and fabric softeners are expected to remain in high demand due to the rising trend of using green products. Furthermore, the increased demand for convenience is expected to fuel the demand for automatic laundry detergents and fabric softeners.
[Q]: What are the trends in the laundry care products market?
[A]: A major trend in the laundry care products market is the increasing focus on green products. Manufacturers are focusing on products that are made from natural ingredients, are biodegradable, and do not contain harsh chemicals. This is expected to drive the demand for green products and create opportunities for new players in the market.
[Q]: What region offers the largest opportunity for sales of laundry care products?
[A]: Asia Pacific is expected to be the most attractive region for laundry care products due to the increasing population and rising disposable incomes in the region. This is expected to create demand for laundry care products, especially in India and China.
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
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