Household Cleaning Products Market to Reach USD 320.82 Billion by 2028

The companies covered in the household cleaning products market are Church & Dwight Co. Inc. (USA), Colgate-Palmolive Co. (USA), Godrej Consumer Products Ltd. (India), Henkel AG & Co. KGaA (Germany), Kao Group (Japan), The Procter & Gamble Co. (United States), Reckitt Benckiser Group Plc (United Kingdom), SC Johnson & Son Inc. (United States United States), Goodmaid Chemicals Corporation (Malaysia), Unilever NV (United Kingdom) and other players

Pune, India, 03 Feb. 2022 (GLOBE NEWSWIRE) — Household cleaning products market:

According to Fortune Business Insights™, the global market household cleaning products market the size is expected to gain momentum reaching USD 320.82 billion by 2028 while growing at a CAGR of 4.5% between 2021 and 2028. The report further mentions that the market stood at USD 221.32 billion USD in 2020. The growing demand for organic cleaning products, coupled with the increasing investment in R&D activities to develop advanced products, is likely to drive the adoption of the product worldwide.

Stellar growth rate of 18.2% in 2020 Witness amid COVID-19; Strong demand for personal household cleaning products globally

The COVID-19 pandemic has resulted in a positive growth rate across the market. The growing rate of hygiene-conscious populations across the globe has led to a high adoption of household cleaning products. This has further led manufacturers to focus on introducing innovative products and expanding their facilities to meet the exponential demand. These factors led the market to witness a growth rate of 18.2% in 2020 and is expected to show significant growth in the coming years.

List of Companies Featured in the Global Household Cleaning Products Market:

  • Church & Dwight Co. Inc. (USA)

  • Colgate-Palmolive Co. (USA)

  • Godrej Consumer Products Ltd. (India)

  • Henkel AG & Co. KGaA (Germany)

  • Kao Group (Japan)

  • The Procter & Gamble Co. (USA)

  • Reckitt Benckiser Group Plc (UK)

  • SC Johnson & Son Inc. (USA)

  • Goodmaid Chemicals Corporation (Malaysia)

  • Unilever NV (UK)

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Market segmentation :

Based on product type, the market is categorized into laundry detergents, surface cleaners, dishwasher products, toilet cleaners, and others.

Based on product type, the laundry detergent segment is expected to hold the largest global household cleaning products market share over the forecast period. This is due to the increasing adoption of detergents to prevent staining of clothes across the world. The high demand for these products is pushing the manufacturers to introduce innovative products which will drive the growth of the market. The segment held a market share of around 53.7% in 2020.

Finally, based on region, the market is categorized into North America, Europe, Asia-Pacific, Middle East & Africa, and Latin America.

DRIVER FACTORS

Increase adoption of organic cleaning products to increase growth

According to the American Lung Association, VOCs released by cleaning products often cause allergic reactions, chronic respiratory conditions and headaches. Additionally, the chemicals present in these products can also lead to serious conditions such as cancer.

Hence, the growing awareness of the harmful effects of adopting these products for an extended period of time is propelling the demand for organic cleaning products. The surge in eco-friendly products has further led companies to introduce innovative home care products across the world. These factors are expected to contribute to the growth of the global household cleaning products market over the forecast period.

REGIONAL OVERVIEW

Asia Pacific – The region stood at USD 76.80 billion in 2020 and is expected to gain momentum over the forecast period. This is due to the presence of a large population which is likely to lead to a high demand for household cleaning type products. Additionally, companies in countries such as India, China, and Japan are focusing on harnessing opportunities from the high demand for cleaning products amid COVID-19 by introducing innovative products.

North America – The market in the region is expected to witness considerable growth, supported by the growing environmental concerns that propel the demand for safe and organic household cleaning products between 2021 and 2028.

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COMPETITIVE LANDSCAPE

Expansion of facilities by large companies to amplify their market positions

The market includes small, medium and large companies striving to maintain a stronghold. The companies are focused on expanding their facilities to develop advanced household cleaning products to meet growing consumer demand around the world. Moreover, other key players are adopting organic and inorganic growth strategies which bode well for the growth of the market.

Industry key development:

February 2020 – Henkel AG & Co. KGaA inaugurated a new expanded facility for the development of beauty care products in Moscow. With an overall investment of approximately $21.94 million, the new facility will have an annual production capacity of 300 million finished product units.

Contents

  • introduction

  • Summary

  • Market dynamics

    • Market factors

    • Market constraints

    • Market opportunities

  • key ideas

    • Key trends

    • Latest technological advances

    • Overview of the regulatory scenario

    • Analysis of the five forces of carriers

    • Main developments: acquisition, collaboration, strategic partnership and joint venture

  • COVID-19 Impact Analysis

TOC Continued…!

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