The washing and cleaning products market value is anticipated to reach US$XX billion by 2028. The growing adoption of washing and cleaning products along with rising consumer inclination towards cleanliness are the key factors for market growth. The report further mentions that the market size stood at US$XX billion in 2019, and it is likely to exhibit a CAGR of 5.3% throughout the forecast period 2020 to 2028.
The Increased Prevalence of cleanliness
As per Alchemy Research and Analytics LLP, the Washing and cleaning products market is primarily driven by increased prevalence towards cleanliness along with the rising inclination towards hygiene and health among individuals. The health benefits correlated with the adoption of washing and cleaning products are getting a clean environment for living a healthy and hygienic life is another key factor estimated to drive the market growth in the upcoming years.
Besides, the growing individual focus towards their environmental surroundings along with the rising awareness and innovation of washing and cleaning products are some other major factors projected to drive the washing and cleaning products market growth over the forecast period.
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Increasing Demand for washing and cleaning products
People’s rising concern towards hygiene, increased focus on communal hygiene, and growing concern towards the spread of infectious disease are the factors of the increasing demand for the washing and cleaning products market. To ensure safety, social, and self-actualization needs by allowing sterilizing household surfaces, safe food storage, and hygienically controlling garbage are some other factors that are driving the washing and cleaning products market growth.
Alchemy Research and Analytics LLP had taken the impact of the ongoing COVID-19 pandemic on the Washing and cleaning products market for the year 2020 and 2021. As per our extensive secondary and primary research, the demand for washing and cleaning products has increased in the COVID-19 period owing to COVID-19 guidelines for cleanliness. In the post-COVID-19 period, washing and cleaning products will become more popular as consumers will prefer a healthy and hygienic environment to avoid or to protect themselves from infectious diseases. The washing and cleaning products market is expected to rise in the forecast period.
Key Manufacturers Aim to Enhance Their Portfolios by Partnerships
According to Alchemy Research and Analytics LLP’s major market players in the washing and cleaning products market are focusing on strategies such as partnerships, collaboration, mergers & acquisitions, geographic expansions, R& D, and product and flavor differentiation. The washing and cleaning products market is highly fragmented.
Alchemy Market Research lists out the names of key market players in the washing and cleaning products market. They are as follows:
- Amway
- Henkel KGaA
- Colgate Palmolive company
- Procter & Gamble Co.
- Reckitt Benckiser Plc
- The Clorox Company
- Church & Dwight
- The Dial Corporation
- Unilever N.V.
A Significant Industry Development-
- September 2019- Church & Dwight Co. Inc. announced the launch of ARM & HAMMER with a new, streamlined laundry solution that delivers performance. At 30% less water and 37% less plastic, ARM & HAMMER developed this product with efficiency in mind, making it easy to utilize, transport and store.
Further Report Findings-
- The Asia Pacific has the largest market share in the washing and cleaning products market due to a large population in the region along with developing countries such as China and India. The Asia Pacific is the fastest-growing region for the washing and cleaning market due to the rising population. Moreover, the increase in leaving standard, increase in disposable income of this region has also contributed to the overall growth of the washing and cleaning products market.
- The Middle East & Africa region is expected to be a growing region in the washing and cleaning products market due to the heavy urbanization and the rising population in the forecast period
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