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The global household cleaning products market size was USD 163.98 billion in 2019 and is projected to reach USD 312.49 billion by 2027, exhibiting a CAGR of 4.97 % during the forecast period.
Household cleaning products play a very important role in keeping the house clean, free of germs, and to maintain household hygiene. It removes germs, soils, dust, and other contamination which are responsible for the spread of infectious diseases, allergies, and viruses. Cleaning products are usually safe and effective in terms of usage if they are handled carefully. The products are made up of different kinds of ingredients such as surfactants, solvents, preservatives, chlorine bleaches and ethanol. Some of the products may contain flammable liquids, acids, and alkalis that may be hazardous for health and can cause accidents, so it is very important to take proper precautions while using such products and should be kept away in a safe and closed place after the usage.
Moreover, pandemic COVID-19 is expected to have an extraordinary effect on the market. The impact of this pandemic is expected to be severe in 2020. The COVID-19 has boosted the market for household cleaning products in a positive way as people became more conscious about hygienic living and house cleaning. The demand for household cleaning products led to the shortage of products and many of the manufacturers have to increase their production capacities in case of such an emergency. Many of the manufacturers came forward and expressed their support for the people around the world. As this pandemic is going to be part of our life at least for the year 2020 and many are also till the first few months of 2021 the global household cleaners market is expected to be high, then it will gain the normal pace after the first quarter of 2021.
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Full disclosure of ingredients on the labels is an ongoing trend in the global market
Providing information about the product's ingredients for technical consumers is the new trend in the market. After the launch of the Consumer Product Ingredient Communication Initiative in 2010, companies started to provide information about the ingredients in products such as floor cleaners, air care, and home care products. Consumers are very eager to know about the ingredients and also want to know the truth about products. They are interested in products like where they came from, transparency about the finished products, and all about the supply chains. People gain trust by brands, the ingredients they use, and by discussing the ingredients with other users. The consumer tends to compare the contents, read context risks associated with the ingredients and products.
Rising disposable income and demanding lifestyle to drive the market
In today's world, people have more disposable income and a more demanding lifestyle and thus household cleaning products have become essential in the life of a consumer. It is very essential to keep home clean and odor-free for a healthy and pleasant environment. People tend to demand more effective and fast working products with minimum efforts without compromising the cost. In the era of such a busy lifestyle, many consumers prefer the products which require less time and give maximum results. Thus there is a potential surge in the demand for household maintenance and cleaning products. Moreover, the growth in disposable income and the high demanding lifestyle products have led the consumer to opt for more premium brand products and thus these factors are expected to augment the demand for household cleaning products in the market.
Increase in demand for “green” and natural products is expected to drive the market
Chemicals have become a part of life and we all are getting affected by it. Thus, it has been noticed that many consumers are moving towards green and natural products as they are eco-friendly and gentle for the skin as well as the environment. Nowadays, the demand for natural and green products is high all over the world and the demand for green cleaning products has propelled the household cleaning products industry. Rising environmental issues are playing a major role in the increasing demand for green and natural products. People are willing to pay more money for natural and organic products to save the environment; thus, it has become a huge game-changer for this market. It is also predicted that the usage of harsh chemical products will lessen soon, as people are not only willing to spend hours cleaning their homes but also willing to pay more for the right kind of product.
Lack Of Customer Retention And Demand Is Expected To Restrain The Market Growth
The consumer preference may vary from person to person and it is based on factors such as psychographic, demographic, and behavioral. Consumer behavior is mainly influenced by lifestyle, feelings, lifestyle, culture, morals, ethics, personality, etc. In today's world, the household cleaning product market faces challenges in creating consumer loyalty and the evolution to meet the ever-increasing change in the consumer pattern and choices. The consumer is often attracted to new and innovative products; thus the consumers can’t stay loyal to one product. Due to changing consumer behaviors, it becomes very difficult for the manufacturer to cope up with the new products. The different-different demand from the consumer with higher expectations is expected to restrain the market for household cleaning products.
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Laundry Detergents to Hold the Largest Share in the Global Household Cleaning Products Market
The global market is segmented into laundry detergents, surface cleaners, dishwashing products, toilet cleaners, and others. Laundry detergents hold the largest household cleaning products market share, globally. As clean clothes are also considered to be hygienic, and clothes are needed to be washed often. Detergents help to loosen dirt which cannot be done only with water. It loses the bond of dirt from cloth, breaks it up, and washes its way. Laundry bars are also used in most parts of the world to wash laundry by hand or to treat small strains as it is efficient, affordable, and travel friendly.
North America Household Cleaning Products Market Size, 2016-2027 (USD Million)
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The market size in North America stood at USD 40,974.1 million in 2019. North America holds a significant share in the market owing to the presence of various green household cleaning products manufacturers in the region. The consumers are mostly inclined towards the natural ingredients products. In Europe, the market is already developed and thus it is growing at a slow pace as compared to other regions. But, to maintain the competency, the companies are mostly into R&D and trying their best to reduce the environmental footprint by enhancing the product's ingredients, content, packaging, and others. The Asia Pacific holds the largest share in the global market due to the highest number of population in this region and the rise in disposable incomes. The Asia Pacific is a densely populated region; thus the demand is high as the buying power is high in this region. China is the major producer followed by Japan and India. Despite being the highest consumer, the region is well aware of the environmental hazards of toxic chemical usage and is more inclined towards the natural cleaning products. The Middle East & Africa region is expected to be a promising region in the upcoming year. The demand in this region is increasing due to heavy urbanization and the rising population in this region. In Latin America, the demand is expected to show slow growth in the near future, due to the less number of populations present in this region.
Key Players is Accepting Merger and Acquisition Growth Strategies to Maintain Their Dominance in the Household Cleaning Products Market
The competitive landscape of the market depicts a fragmented market accounting for the global market revenue. Key players in the market have invested a considerable amount of resources in research and development of several household cleaning agents. A product portfolio, supported by superior operational efficiency, and safe & novel technology development for applications, are the strategies used by the market leaders for their growth.
Furthermore, small and medium-scale companies have adapted the strategy of mergers and partnerships with larger enterprises to improve their offering portfolio and other related services. This trend is projected to positively impact the global market during the forecast period as the smaller companies can gain a lot from the experience of the market leaders.
The household cleaning products market report provides a detailed analysis into the market size and forecast and focuses on key aspects such as leading companies, and a leading product. Besides this, the report offers insights into the key market trends and highlights key industry developments. In addition to the aforementioned factors, the report encompasses several factors that have contributed to the growth of this market over recent years. The report includes a detailed market analysis across five major regions.
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Value (USD Billion) and Volume (Kilo Tons)
Fortune Business Insights says that the global household cleaning products market size was 163.98 billion in 2019 and is projected to reach USD 312.49 billion by 2027.
In 2019, the market value stood at USD 163.98 billion.
Growing at a CAGR of 4.97%, the market will exhibit steady growth in the forecast period (2020-2027).
The laundry detergents segment is expected to be the leading segment in this market during the forecast period.
An increase in disposable income is driving the demand for household cleaning products.
The Asia Pacific held the highest market share in 2019.
Demand for environment-friendly products for end-use industries is supporting the growth of the market during the forecast period.
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