Laundry Care Market Scope
The Laundry Care market is expected to witness high demand in the forecasted period due to the adoption of a healthier lifestyle coupled with the increasing concern for hygiene. The growing demand for organic and eco-friendly laundry care products has a significant impact on the market. Laundry care products are getting increased traction among consumers.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
High Growth Market | Asia Pacific |
Largest Market | North America |
Unit | Value (USD Million) |
Key Companies Profiled | Procter & Gamble Co., Unilever PLC (United Kingdom), Colgate-Palmolive Company, Henkel AG & Co. KGaA (Germany), Reckitt Benckiser Group PLC (United Kingdom), Amway Corporation (United States) and Kao Corporation (Japan) |
CAGR | 4.7% |
The global laundry care market faces high competition. Vendors are continuously launching products with biodegradable ingredients such as natural washing soda, coconut oil & mineral-based surfactants, and plant-based enzymes. Research Analyst at AMA estimates that United States Vendors will contribute to the maximum growth of Global Laundry Care market throughout the predicted period.
Procter & Gamble Co., Unilever PLC (United Kingdom), Colgate-Palmolive Company, Henkel AG & Co. KGaA (Germany), Reckitt Benckiser Group PLC (United Kingdom), Amway Corporation (United States) and Kao Corporation (Japan) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research are S.C. Johnson & Son Inc. (United States) and LG Household & Health Care Ltd. (South Korea).
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from the total available market.
Segmentation Overview
The study have segmented the market of Global Laundry Care market by Type , by Application (Residential and Commercial) and Region with country level break-up.
On the basis of geography, the market of Laundry Care has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). North America region held largest market share in the year 2023. Europe on the other hand stood as second largest market due to the presence of key companies into the region and high technological advancement.
Market Leaders and their expansionary development strategies
In November , 23023 Awesome Products Inc., a leading household cleaning products manufacturing company, is excited about the one-year completion of successful acquisition of Ajax Laundry Care, a venerable and renowned name in the consumer products sector on 9.13.2022 from RADIENZ LIVING, LLC.
In September 2023,Ahlstrom BioProtect is a one source, sustainable, nonwoven solution for laundry care, incorporating patent pending technology to protect laundry from color run during the wash cycle.
Influencing Trend:
Consumers are Rapidly Evolving and Becoming more Demanding for the Innovative Laundry Care and Increasing Growth in FMCG Industries
Market Growth Drivers:
Increased Consumerism and Rising Number of Players Globally and Growing Health and Hygiene Awareness
Challenges:
Excessive Alkalies used in Some Detergent can Damage the Fabric
Restraints:
Growing Concern of Use of Harmful Chemical in The Laundry Care Products
Opportunities:
Innovation in Packaging to Enhance the Safety of Laundry Care Products and Increase in Purchasing Power of the Consumers
Key Target Audience
The Government Regulatory Bodies, Government Research Organizations, Private Research Organizations and Others