Global Laundry Cleaning Product Market is Anticipated to Grow US$ 81,000 Mn by 2022
Increasing need to offer and maintain clean and hygienic amenities has led to an upsurge in demand for laundry cleaning products in the textile and hospitality industry. Expanding e-commerce platforms will impact growth of the global market of laundry cleaning products positively. According to a recently published report, the global market of laundry cleaning products will register a relatively slow CAGR growth over the forecast period, 2017–2022.
Market Dynamics
Surging need to maintain hygiene and cleanliness in the healthcare and residential industries has revved up demand for laundry cleaning products significantly. Laundry cleaning products represent considerable demand among textile manufacturers to preserve the quality of products, and stop deterioration of textiles. Such factors are likely to impact the global market growth of laundry cleaning products positively through 2022. Hotels will witness considerable growth in demand for laundry cleaning products in order to offer clean pillow covers, towels, bed sheets, and carpets. Increasing need to offer cleanliness and hygienic amenities in the hospitality industry is likely to impact growth of the global market of laundry cleaning products throughout 2022.
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Apart from textile and hospitality, the automotive industry will contribute towards the global market growth of laundry cleaning products by 2022 – end. Increasing need to clean the leather automotive seats to avoid bacteria and fungi has further fueled demand for laundry cleaning products in the automotive industry. Such factors are likely to contribute towards the global market growth of laundry cleaning products throughout 2022.
Segmentation Analysis
Liquid & gels product form will outsell powder and bar product forms in the Europe market. This segment will register a relatively high CAGR growth in APEJ throughout 2022. However, Europe will remain the largest market growth for the liquid & gels product form globally. In terms of revenue, powder form among other laundry cleaning products is likely to register a relatively high growth by the end of 2022.
In 2017, detergents among other laundry cleaning products will register a relatively high growth in terms of revenue. Europe will represent a major market for conditioner and detergents laundry cleaning products globally. In terms of value, detergent laundry cleaning products is expected to represent over US$ 10,000 Mn in the global market by the end of 2022.
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Grocery stores is predicted to register a relatively high growth in terms of revenue in Europe by the end of 2022. However, other retail formats will reflect a relatively high CAGR growth in APEJ throughout 2022. E-commerce platforms among other sales channel is predicted to witness a relatively high CAGR growth in the global market throughout 2022.
Regional Analysis
Europe is expected to register a relatively high growth through grocery stores in terms of sales in the global market of laundry cleaning products by 2022–end. In terms of sales, Latin America will witness a relatively high CAGR growth through e-commerce platforms during the predicted period. In terms of revenue, sales of laundry cleaning products through modern trade will represent an attractive segment. However, other retail formats is expected to register a relatively high CAGR in APEJ during the projected period.
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