LONDON--(BUSINESS WIRE)--The global detergent market is expected to post a CAGR of almost 5% during the period 2019-2023, according to the latest market research report by Technavio. Request a free sample report
Regions such as Western Europe, North America, Australia, New Zealand, and Japan are witnessing high adoption of washing machines. Many emerging economies across the world, especially countries in APAC are also witnessing strong penetration of washing machines owing to the expansion of the middle-class population and rapid urbanization. This is encouraging washing machine manufacturers to offer energy-efficient products, consume less water, and have faster cleaning and drying capabilities. These factors are expected to drive the demand for detergents across the globe.
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As per Technavio, the emergence of sustainable and eco-friendly detergent products will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other significant trends and market drivers that will affect market growth over 2019-2023.
Global Detergent Market: Emergence of Sustainable and Eco-Friendly Detergent Products
Consumers are increasingly becoming aware of the harmful environmental effects caused by detergent products. This is compelling market vendors to adopt green initiatives to make their products more friendly toward the environment. Vendors are introducing liquid detergents made of non-toxic and natural ingredients such as plant-derived surfactants. Some are offering laundry detergents made of eco-friendly ingredients and essential oils. This trend is expected to have a positive impact on the growth of the global detergent market during the forecast period.
“Increasing acceptance of liquid detergents and the emergence of new packaging designs will further boost market growth during the forecast period,” says a senior analyst at Technavio.
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Global Detergent Market: Segmentation Analysis
This market report segments the global detergent market by type (powder and liquid), end-users (household and commercial & industrial), and geography (Americas, APAC, and EMEA).
The APAC region led the market in 2018, followed by EMEA and the Americas, respectively. During the forecast period, the APAC region is expected to maintain its dominance over the market. This is due to factors such as the growth of the population and the increasing sales of washing machines in the region.
Technavio’s sample reports are free of charge and contain multiple sections of the report, such as the market size and forecast, drivers, challenges, trends, and more.
Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market definition
- Market size and forecast
Five Forces Analysis
- Geographic comparison
- Key leading countries
- Landscape disruption
- Competitive scenario
- Vendors covered
- Vendor classification
- Market positioning of vendors
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