Liquid Detergent Market Size, Share, Analysis, Research Report, Industry Growth & Forecast by 2023 |
by Rahul Rastogi Market Research AnalystThe global liquid detergent market has witnessed a positive
growth in the recent years. This can be attributed to the rising demand for
washing machines, growing environmental concerns, inflating income levels of
the consumers, and innovation in packaging and marketing by the manufacturers.
The latest report by IMARC Group, titled “Liquid Detergent Market: Global Industry
Trends, Share, Size, Growth, Opportunity and Forecast 2018-2023”, estimates
that the global liquid detergent market size reached more than
US$ 24 Billion in 2017. Liquid detergent refers to a cleansing agent which is
usually employed for removing dirt and emulsifying oils from delicate fabrics.
It is composed of builders, surfactants, enzymes, bleach, soil
anti-redeposition agents, foam regulators, corrosion inhibitors, fragrances,
dyes, fillers and formulation aids. Stabilizers may be added to this blend so
as to ensure the uniformity of the finished product. In comparison to powder
detergent, liquid detergent does not accumulate in the textile fibres or in the
washing machine due to the absence of hard ballast substances. In addition to
this, it is highly efficient and can be easily used in both warm and cold water
owing to which liquid detergent is gaining popularity.
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Global Liquid
Detergent Market Trends:
Rising concerns about environmental sustainability has
encouraged the manufacturers to adopt eco-friendly manufacturing techniques.
This has resulted into the production of green products which are composed from
natural substances such as plant-based enzymes, mineral- or coconut oil-based
surfactants, etc. As these products are biodegradable, they are gaining
traction among the consumers across the globe. Further, growing demand for
washing machines owing to mounting household incomes and increasing purchasing
power of the consumers has propelled the sales of liquid detergents.
Additionally, growth in the e-commerce industry, innovative packaging formats,
promotional offers and aggressive marketing by the manufacturers have been
proactive in maintaining the growth of the liquid detergent market. Looking
forward, the market value is projected to reach around US$ 34 Billion by 2023,
expanding at a CAGR of 5.6% during 2018-2023.
Global Liquid Detergent Market Summary:
·
On the basis of product type, the market has
been bifurcated into inorganic and organic liquid detergents. Amongst these,
inorganic liquid detergent represents the most popular product type due to
well-established market and availability of different product variants at low
cost.
·
Based on end-use, the market has been segregated
as residential and commercial sectors, wherein the commercial sector accounts
for the majority of the total share.
·
On the basis of the distribution channel,
supermarkets and hypermarkets hold the largest market share due to the
availability of a wide range of liquid detergents from different brands. Other
major distribution channels include convenience stores, departmental stores and
online.
·
Region-wise, the market has been divided into
Europe, Asia Pacific, North America, Latin America, and Middle East and Africa.
Currently, North America is the leading market as a result of increasing demand
for more efficient and biodegradable liquid detergents.
· On analyzing the competitive landscape of the market, it has been found that the key players include Procter & Gamble, Henkel, Unilever, Church & Dwight and The Clorox Company.
Get More Information About This Research Report: https://www.imarcgroup.com/liquid-detergent-market
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Created on Feb 27th 2019 01:29. Viewed 9,396 times.