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The global household cleaning products market size could rise from USD 247.94 billion in 2022 to USD 334.16 billion by 2029. Robust demand for organic products could provide impetus with the rising penetration of green and natural products. Amidst environmental concerns, leading companies could invest in natural products. Moreover, full disclosure of ingredients on the label will also encourage end-users to seek the product.
According to the latest research report by Fortune Business Insights™ titled, “Household Cleaning Products Market Size, Share & COVID-19 Impact Analysis, By Product Type (Laundry Detergents, Surface Cleaners, Dishwashing Products, Toilet Cleaners, and Others), and Regional Forecast, 2022-2029,” the market stood at USD 235.76 billion in 2021. It is expected to witness 4.4% CAGR during the forecast period.
Pandemic-led Hygienic Concerns Augmented Product Demand
The pervasive COVID-19 pandemic has compelled customers to prioritize hygienic housekeeping. Amidst the demand-supply gap, major players geared to expand their production facilities across developing and developed countries. For instance, leading manufacturers, including P&G, Reckitt Benckiser, and Henkel observed an unprecedented demand for disinfection goods. End-users are expected to seek such cleaning products, prompting investments in the landscape.
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Henkel Poured USD 21.94 Million to Expand Beauty Care Portfolio in Russia
Well-established players and new entrants expanded their penetration to tap into global markets. To illustrate, in February 2020, Henkel announced injecting USD 21.94 million to roll out a new extended beauty care factory in Moscow. The facility could produce approximately 300 million finished goods each year. It is expected to be Henkel’s second-biggest beauty care factory in the world and Russia’s largest cosmetics maker. The household cleaning products market share will gain traction from robust policies and investments in product development.
Bullish Demand for Natural Products to Underpin Industry Growth
The rising footfall of organic products has encouraged millennials to inject funds into household cleaning products. Green and natural products have gained immense popularity following the sustainability trend. With the demand for harsh chemical products poised to reduce, manufacturers are expected to boost the production of household cleaning products. Industry players could also invest in advanced surface and toilet cleaners, emphasizing pricing, quality, packaging, and fragrance. Heightened demand for organic cleaning products with almost no risk involved could boost the household cleaning products market growth. However, potential failure in retaining customers could dent the market growth.
Stakeholders Emphasize Strategic Approaches to Bolster Footprint
Major players are poised to inject funds into mergers & acquisitions, product launches, R&D activities, and technological advancements to propel their penetration. Furthermore, leading companies could infuse funds into innovations to expand their market presence in untapped areas.
Notable Industry Development
List of the Companies Profiled in the Report:
Further Report Findings
Table of Segmentation
Value (USD Billion)
Product Type; and By Region
By Product Type