The global liquidlaundry detergent market size is predicted to reach USD 33.24 billion by2027, exhibiting a CAGR of 5.8% during the forecast period. The rising shiftfrom powder detergent to liquid detergent owing to its formula to remove toughstains in one wash will spur demand for the market, states Fortune BusinessInsights in a report, titled “Liquid Laundry Detergent Market Size, Share &Industry Analysis, By Application (Household, and Industrial &Institutional, {Laundry & Dry Cleaning Service, Hotel & Other Lodging,Healthcare, Textile Industry, and Others}), and Regional Forecast, 2020-2027”the market size stood at USD 21.25 billion in 2019.
What does the Market Report Offer?
The market report offers an exhaustive study of severalfactors such as drivers, restraints, challenges, and opportunities that willaffect the growth of the market in the forthcoming years. The report coversregional demographics that include qualitative and quantitative information aboutthe regions that are further divided into nations that are contributing to thegrowth of the market between 2019 and 2026. Furthermore, the competitivelandscape has been discussed in-depth that include information of severalplayers operating in the market. Moreover, information on the adoption ofstrategies such as merger and acquisition, collaboration, partnerships, andjoint ventures by the companies that will drive the growth of the market hasbeen included during the projected horizon.
Market Driver:
Heavy Demand for Automatic Washing Machines to Propel Market
The rising necessity for washing machines in the residentialsector is a key factor driving the market. The growing demand for fullyautomatic washing machine owing to its user-friendliness and low timeconsumption time will subsequently aid the expansion of the market during theforecast period. The ability to both wash and whirl in fully automatic washingmachines along with being eco-friendly will promote its use, which, in turn,will foster the growth of the market. The evolvement from semi-automatic tofully automatic washing machine owing to its capacity to offer efficient andstain removal operations will have a positive impact on the market. The growingpopularity of automatic machines in the household and the residential sectorwill drive the market. Moreover, the increased spending on householdaccessories and machines will consequently boost the market in the foreseeablefuture. In addition, the introduction of innovative products by major brandswill spur opportunities for the market in the forthcoming years. For instance,Kao Corporation a Japanese chemical and cosmetics company announced the launchof concentrated liquid laundry detergent "Attack ZERO.” The new concentratedliquid detergent is the first of Kao's exclusively designed product seriesformulated as its key ingredient.
Regional Analysis:
Rapid Urbanization to Augment Growth in Asia Pacific
The North America market size stood at USD 6.94 Billion in2019 and is expected to grow rapidly during the forecast period. The growth inthe region is attributed to the surge in the hospitality and textileindustries. The rising inclination towards a healthy lifestyle coupled withconcerns regarding home care hygiene will accelerate the healthy growth of themarket. The rising household spending will further influence growth in theregion. Asia Pacific is predicted to dominate the market during the forecastperiod owing to the increasing product awareness in the emerging nations. Therapidly evolving industries in the developing countries such as India and Chinawill have a tremendous impact on the market. The rapid urbanization and highdemand for washing machines will create lucrative opportunities for the marketin the foreseeable future.
Key Development:
September 2018: DuPont Industrial Biosciences, a leader inbiotechnology introduced PREFERENZ, a detergent Line for liquid laundry. Thecompany plans to enhance its enzyme portfolio to the next level by launchingPREFERENZ P 300, including several PREFERENZ products, as well as EFFECTENZ andREVITALENZ.
Browse Summary of This Research Report with Detailed Tableof Content: https://www.fortunebusinessinsights.com/liquid-laundry-detergent-market-102962
