The global Laundry Detergent market is anticipated to grow at a CAGR of 4.6 % during the forecast period (2022-2028). Laundry detergent is a type of cleaning agent in various forms including powder, liquid, and others that is used for cleaning clothes or laundry. The major factor attributing to the growth of the global laundry detergent market is the increasing use of laundry detergent for industrial & residential applications due to the growing textile industry during the forecast period. According to the Textile Industry report published by the India Brand Equity Foundation (IBEF) in February 2022, the textile industry of India is one of the oldest industries across the globe. The market size of the Indian textile industry was around $29.8 billion in 2021 giving employment to around 4.5 crore workers. India recorded an export of around 1.13 million tonnes of cotton yarn in 2021. The textile industry of India is estimated to consistently grow and reach around $209 billion by 2029. Thus, increasing the demand for laundry detergents.
The commercial use of laundry detergents is also increasing in hotels for cleaning various clothes including bed sheets, pillow covers, curtains, and others due to the increasing number of hotels across the globe. According to an article published by Condor Ferries Ltd. in 2021, there are more than 7,00,000 hotels & resorts accounting for 16.4 million hotel rooms across the globe. The size of the global hotel industry is around $570 billion. Among these, China is the country with the most number of hotels with around 4,169 hotels. London & Dubai are the cities with the major number of 5-star hotels in the world accounting for 65 hotels in London, and 61 hotels in Dubai. Thus, propelling the growth of the global laundry detergent market.
Some major players in the market include BASF SE, Clariant AG, Croda International plc, Henkel AG & Co. KGaA, Kao Corp., among others. The market players are contributing significantly to the growth of the market by the adoption of various strategies including mergers & acquisitions, geographical expansion, partnerships and collaborations, and new product launches, to stay competitive in the market. For instance, in June 2021, Tide, a brand of Procter & Gamble signed a space act agreement with NASA. Under this agreement, Tide will develop laundry detergent as a cleaning solution in space for astronauts.
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Market Coverage
- The market number available for – 2021-2028
- Base year- 2021
- Forecast period- 2022-2028
- Segment Covered-
- By Type
- By Application
- By Distribution Channel
- Regions Covered-
- North America
- Europe
- Asia-Pacific
- Rest of the World
- Competitive Landscape- BASF SE, Clariant AG, Croda International plc, Henkel AG & Co. KGaA, Kao Corp., among others.
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Key questions addressed by the report
- What is the market growth rate?
- Which segment and region dominate the market in the base year?
- Which segment and region will project the fastest growth in the market?
- How has COVID-19 impacted the market?
- Deviation from the pre-COVID-19 forecast
- Most affected region and segment
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
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Global Laundry Detergent Market Report by Segment
By Type
- Powder Detergent
- Liquid Detergent
- Tablet Detergent
By Application
- Household
- Industrial
- Commercial
By Distribution Channel
- Online
- Offline
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