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Household Cleaning Products Market Size to Reach $312.49 Million by 2027; Rising Necessity for Affordable Cleaning to Favor Growth

July 16, 2020 | Chemicals & Materials

The global household cleaning products market size is expected to USD 312.49 billion by 2027. The rising demand for Laundry bars owing to its efficient, affordable, and speedy results will spur opportunities for the market during the forecast period, mentioned in a report, titled Household Cleaning Products Market Size, Share & Covid-19 Impact Analysis, By Product (Laundry Detergents, Surface Cleaners, Dishwashing Products, Toilet Cleaners, and Others), and Regional Forecast, 2020-2027” the market size stood at USD 163.98 billion in 2019 and is expected to exhibit a CAGR of 4.97 % between 2020 to 2027.


Extension of Henkel’s Venture Capital Activities to Aid Growth


Henkel, a leader in consumer goods known for its Innovation and quality announced that it has expanded its venture capital activities with initial investments of more than 25 million euros in several start-ups and venture capital funds. Henkel Ventures, a dedicated unit for venture capital activities will be separately managed by Henkel. Moreover, the company’s plan to invest 150 million euros in start-ups with specific digital or technological expertise will improve Henkel's corporate venture funds. Furthermore, the increasing collaborations and agreement between the companies will subsequently encourage the growth of the market during the forecast period.


For instance, Henkel’s Adhesive Technologies business signed an agreement Emerald Technology Ventures and Pangaea Ventures Ltd for an investment of 10 million euros in two material science-focused venture capital funds. The increasing investment in consumer businesses such as beauty care and laundry & home care by the company will have a positive effect on the market due to the focus on E-commerce and social media. Besides, direct investments in Vitriflex and DropWise, two material science start-ups will enlarge the company’s agenda. Similarly, the Laundry & Home Care business unit invested in the online dry cleaners and laundry service ZipJet.


To get a detailed report summary and research scope of this market, click here:


https://www.fortunebusinessinsights.com/household-cleaning-products-market-103286


Evolving Consumer Lifestyle to Influence Growth


The changing lifestyle of people has led to high demand for household cleaning products. The growing necessity to keep home clean and odor-free can be an essential factor contributing to the growth of the market. The growing demand for effective and affordable products to maintain a healthy and pleasant environment at home will bode well for the market. The hectic routine of people has steered requirements for efficient products with faster results. Thus, the surge in disposable income and sedentary lifestyles will spur demand for premium brand products, which in turn, will create lucrative opportunities for the market in the forthcoming years.


Strategic Mergers and Acquisitions of Key Players to Reinforce Industry Proceedings


The market is controlled by the presence of numerous major companies operating independently in the industry. The increasing investment in research and development of several household cleaning products will simultaneously offer impetus to the market players. The enhanced product portfolio of key players along with the development of novel technologies will significantly impact the market. The adoption of various strategies such as mergers and partnerships with larger enterprises to improve production capabilities and portfolios will further aid the expansion of the market.


The Report Lists the Main Companies in the Household Cleaning Products Market:



  • Church & Dwight Co. Inc. (U.S.)

  • Colgate-Palmolive Co. (U.S.)

  • Godrej Consumer Products Ltd. (India)

  • Henkel AG & Co. KGaA (Germany)

  • Kao Group (Japan)

  • The Procter & Gamble Co. (U.S.)

  • Reckitt Benckiser Group Plc  (U.K.)

  • S. C. Johnson & Son Inc.  (U.S.)

  • Goodmaid Chemicals Corporation (Malaysia)

  • Unilever NV (U.K.)

  • and Others


Further Report Findings:



  • Regional Analysis: The market in Asia Pacific is expected to account for the largest share in the global market due to the rising disposable income and urbanization. The rising population as well as the development of advanced products will positively influence growth in the region.

  • Leading Segment: Laundry detergents are expected to observe high demand owing to the need for clean washed clothes. The increasing demand for dishwashing products will further augment the healthy growth of the market during the forecast period.


This Market is Segmented into:






































 ATTRIBUTE



  DETAILS



Study Period



  2015-2026



Base Year



  2019



Forecast Period



  2020-2027



Historical Period



  2016-2018



Unit



Value (USD Billion) and Volume (Kilo Tons)



Segmentation



By Product



  • Laundry Detergents

  • Surface Cleaners

  • Dishwashing Products

  • Toilet Cleaners

  • Others



 



By Geography



  • North America (U.S. and Canada)

  • Europe (Germany, France, UK, and Rest of Europe)

  • Asia Pacific (China, India, Japan, and Rest of Asia Pacific)

  • Latin America (Brazil, Mexico, and Rest of Latin America)

  • Middle East & Africa (South Africa, GCC, and Rest of the Middle East & Africa)


Global Household Cleaning Products Market
  • PDF
  • 2019
  • 2016-2018
  • 200

    CHOOSE LICENSE TYPE

  • 4850
    6850
    8850

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