Laundry Care Industry Demand Services

The global laundry sanitizer market is expected to grow at a compound annual growth rate (CAGR) of 2.7% from 2023 to 2030.

Laundry Care Industry | Forecast 2030

Grand View Research’s laundry care industry data book is a collection of market sizing information & forecasts, trade data, pricing intelligence, competitive benchmarking analyses, macro-environmental analyses, and regulatory & technological framework studies. Within the purview of the database, such information is systematically analyzed and provided in the form of outlook reports (1 detailed sectoral outlook report) and summary presentations on individual areas of research.

The growing demand for laundry care products as a result of the rising population in developing countries is the main factor influencing the growth of the global market. Customers are further enticed to spend more on fabric care and cleaning supplies by the availability of a variety of wash & care solutions. Global demand for laundry care products is predominantly driven by consumers’ growing awareness of hygiene and health. Additionally, increased consumer preference for eco-friendly products and scented laundry care products, together with rising daily use of laundry care products due to requirements, will contribute to market growth over the forecast period.

Access the Global Laundry Care Industry Data Book, 2023 to 2030, compiled with details like market sizing information & forecasts, trade data, pricing intelligence, competitive benchmarking, macro-environmental analyses, and regulatory & technological framework studies

Laundry Sanitizer Market Insights

The global laundry sanitizer market size was estimated at USD 38.00 million in 2022 and is expected to grow at a compound annual growth rate (CAGR) of 2.7% from 2023 to 2030. The market growth can be attributed to increased awareness about the importance of hygiene, especially during disease outbreaks and pandemics. Moreover, the increased demand for laundry sanitizers and disinfectants within the healthcare sector has benefitted market growth. The COVID-19 pandemic showcased the importance of hygiene practices to prevent the spread of the virus. People began to realize that pathogens could potentially linger on surfaces, including clothing, which resulted in the increased demand for laundry sanitizers. Moreover, individuals started incorporating laundry sanitizers into their routines to ensure their clothes were thoroughly disinfected.

This awareness was fueled by the understanding that contaminated clothing could contribute to the transmission of diseases. Consumers are becoming more aware of the importance of proper hygiene, especially in developing countries. For daily cleaning routines, laundry sanitizer is an essential and efficient product that promotes personal hygiene practically and affordably. According to the Centers for Disease Control (CDC), the most likely way for the virus to spread is through close contact with someone who is infected. However, early laboratory evidence also suggested that coronavirus could survive on plastic and stainless-steel surfaces anywhere from hours to a few days. Thus, it remained a possibility that coronavirus could live on clothes for several hours.

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Laundry Detergent Market Insights

The global laundry detergent market size was valued at USD 133.3 billion in 2016. The rising penetration of washing machines in the developing economies is likely to be a key driver for demand over the forecast period. Furthermore, technological advancements are also likely to fuel growth.

The demand for the product in the U.S. is dominated by the growing popularity of liquid products. The U.S. has witnessed tremendous growth in the use of liquid commodity over powder merchandise. However, issues regarding the safety of children ingesting these products acted as a restraint to market growth in 2016. Global vendors such as Procter & Gamble have developed new packaging types to make the company’s packaging childproof. The company also claims to add sour flavor in the packaging of the product.

The competition in the industry is highly concentrated in nature as the majority of market share is dominated by Proctor & Gamble. The industry analysis suggests that Procter & Gamble was the top leader in the U.S. industry capturing nearly half of the market share in 2016. The greater penetration of the company’s brands such as Tide and Gain has made it the undisputed leader in this category.

List of key companies analyzed in this section include:

Procter & Gamble (Cascade), Unilever, Henkel AG & Co. KGaA (Pril), Reckitt Benckiser Group PLC (Finish), Colgate-Palmolive Company, Kao Corporation, SC Johnson and Son Inc., The Clorox Company, ITC Ltd., Dabur India Ltd., Micro Balance Health Products, Church & Dwight Co. Inc., Spectrum Brands Inc., Cosmo Films Ltd., Lion Corporation, Method products, PBC., LG Household & Health Care Ltd., PIGEON CORPORATION, SEVENTH GENERATION, INC, MELALEUCA, INC.

Competitive Insights

The manufacturers aim to achieve optimum business growth and a strong market position through the implementation of various strategies such as acquisitions, new product launches, collaborations, and strengthening of distribution networks in the global as well as regional markets. The manufacturers in the market aim to intensify their market positions by widening their customer base.