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Detergents Market - Growth, Trends, Covid-19 Impact, And Forecasts (2021 - 2026)

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By Author: Statzy Market Research
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The Global Detergents Market is projected to register a CAGR of over 4% during the forecast period (2021-2026). The market was negatively impacted by COVID-19 in 2020. Several countries were forced to go in lockdown owing to the pandemic scenario, which led people to minimize the usage of personal vehicles, thus creating a negative impact on the fuel demand and in-turn decreasing the demand of fuel additives and detergents. According to OICA, global automotive production has witnessed a decline of approximately 23% in Q3 of 2020 compared to Q3 of 2019. However, the consciousness regarding personal hygiene and clean surrounding has increased in the current situation, which has stimulated the demand for laundry and household cleaning products, thus enhancing the market growth of detergents.

- Over the short term, increasing usage of detergents in the personal and laundry care products such as optical brighteners, stain removers, shampoo, bleach, etc. is expected to drive the market growth. As of Cosmetics Europe, the European Cosmetics and personal care industry was valued at about USD 95.32 billion in 2019, with a growth ...
... rate of about 1.5% compared to the previous year.

- On the flip side, stringent environmental regulations on the use of detergents and the negative impact of the COVID-19 outbreak on the market are hindering the growth of the market.
- Asia-Pacific region is expected to dominate the market across the globe with the largest consumption from countries such as China and India.

Key Market Trends

Laundry Cleaning Products Application to Witness Higher Potential Growth

- Laundry liquids are powerful laundry cleaning products that are applied to stubborn stains before washing. These liquids are formulated using a specified surfactant system of naturally derived alkyl or hydroxyalkyl sulphate or sulphonate surfactant and mid-chain branched amine oxide surfactants.
- In 2019, the laundry care segment accounted for more than 50% of the home & laundry care market globally, in terms of revenue, and is likely to increase in the forecast period owing to increasing hygiene consciousness among consumers, which in-turn is expected to boost the market demand.
- With the technological advancements, the laundry-liquid manufacturers now use a new ingredient known as rapeseed oil (non-GMO) that offers benefits with its low foaming properties.
- Foam is detrimental to the washing process and may result in about 50% loss of the washing strength. Laundry liquid is formulated for pre-spraying of stubborn stains on garments. It helps in removing even the toughest stains and offers exceptional cleaning results.

- Liquid laundry detergent is primarily used in cleaning laundry and has two main end-user segments, such as residential and commercial. The commercial applications are in the textile industry, hospitality industry, laundry services, and other industries, whereas residential applications include its use in household cleaning. The demand for liquid laundry detergent is growing, owing to the comfort and ease of application and lesser wastage, compared to detergent powders.

For sample report please visit: www.statzyreports.com/report/sr496917/detergents-market

- North America is currently the leading region in the case of global demand and consumption for laundry liquid detergent. The United States is among the developed markets for household and industrial detergents, and hence, it concentrates on exports. The Middle-East is also an emerging market, with increasing industrial growth and a rise in demand.
- Owing to all these factors, the market for detergents is likely to grow globally during the forecast period.

Asia-Pacific Region to Dominate the Market

- Asia-Pacific is currently the fastest growing market both for household and industrial detergent consumption. India and China are the market leaders, in terms of demand and supply, in the Asia-Pacific region. The increasing awareness about the liquid laundry detergent market and the growth in industrial advancements in these emerging economies are expected to drive the growth of the market in Asia-Pacific.
- China is estimated to continue its dominance during the forecast period, primarily due to the increasing household applications. The country witnessed about 6.1% growth in its GDP during 2019, even after the trade disturbance caused due to its trade war with the United States. The economic growth rate of China in 2020 was initially expected to be moderate as compared to the previous year.
- However, due to the onset of COVID-19 in 2020, the economic growth of China is estimated to contract to some extent and is expected to witness recovery in 2021.
- In 2019, retail sales of liquid detergents and liquid tablet detergents in China were valued to be USD 3,789 million and USD 73 million respectively, which is likely to enhance in the projected timespan, thereby stimulating the regional market growth.
- In October 2019, BASF SE has positioned to increase the annual production capacity of Alkyl Polyglucosides (APG), a non-ionic surfactant, from 20 kilotons to 30 kilotons at its Jinshan site in China to reliably fulfill the strong demand for the detergent-based home and personal care regional market, which in-turn stimulates the market growth.
- Fast Moving Consumer Goods (FMCG) sector is the 4th largest sector in the Indian economy. India's household and personal care is the leading segment, accounting for 50% of the overall market. The FMCG market was valued at USD 68.38 billion in 2018 and was estimated to reach USD 103.70 billion by 2020, registering a CAGR of 23.15%, which stimulates the demand for household and personal care segment, in-turn enhancing the demand for detergents market.
- Rapid industrial expansion and urbanization in the country has led to the development of synthetic detergents, including laundry and household cleaning detergents.
- Due to all such factors, the market for detergents in the region is expected to have a steady growth during the forecast period.

Competitive Landscape

The detergent market is expected to be partially consolidated, with the top players accounting for a significant share of the market. Some of the major players in the market include Henkel AG & Co. KGaA, Procter & Gamble, Unilever, Kao Corporation, and E.U.D.GROUP, a.s., among others.

Reasons to Purchase this report:

- The market estimate (ME) sheet in Excel format
- 3 months of analyst support

For sample report please visit: www.statzyreports.com/report/sr496917/detergents-market

Contact Us:
Poojan Dogra
Public Relations Manager
Statzy Market Research
Email : info@statzyreports.com
(IN) - +918484035727
(US) - +1415-871-0483
Website : www.statzyreports.com

More About the Author

StatzyReports is the premier global market research and business reports company based in India. StatzyReports.com functions under Statzy Market Research. We offer our expertise globally in services related to market research, business strategy consulting, surveys or questionnaire, forecast and statistical data analysis. Our experience working with major business and customer driven companies enabled us to develop some of the best winning strategies for succeeding in various global markets. Our globally renowned experts mastered the art of perfection with their unique skillset and vast experience in research and data analytics.

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