The fabric wash market is set to grow at a 5.6% CAGR from 2016 to 2022, driven by detergent and fabric softener demand, with North America leading revenue.
According to a new report published by Allied Market Research, titled, Fabric Wash and Care Market by Product Types and Application: Global Opportunity Analysis and Industry Forecast, 2014-2022, The fabric wash and care market was valued at $77 billion in 2015 and is projected to reach $112 billion by 2022, growing at a CAGR of 5.6% from 2016 to 2022. In 2015, detergent segment dominated the market, whereas fabric softener/conditioner is anticipated to exhibit faster growth over the forecast period.
A number of fabric cleaning and care products such as detergents and fabric softeners are available in the market. Increase in awareness about the benefits of fabric care products, growth in population, rise in disposable income of middle-class customers, and diversification of product portfolio are the major factors that drive the market growth.
Detergents are the largest selling fabric wash and care products, constituting around 58% of the overall fabric wash and care market size in 2015, followed by fabric softener/conditioner. From a growth perspective, fabric softener/conditioner segment would witness the highest CAGR among the different fabric wash and care product types.
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Global players such as Procter & Gamble, Hindustan Unilever Limited, and Henkel AG & Co. KGaA have launched innovative fabric cleaning and care products to expand their market share. In addition, these players have launched ecofriendly fabric softeners and detergents to cater to the needs of customers.
Type By application, the residential sector occupies the largest fabric wash and care market share of over 40%. The adoption of these products has been gaining popularity among the residential users owing to the availability of a wide range of affordable detergents and fabric conditioners. Additionally, the growing demand for liquid detergents among the households, owing to the comfort and ease they offer over the conventional washing soaps and bars, supplements the market growth.
Growth in purchasing power has encouraged customers to buy branded premium quality garments, which in turn, has led to the increased demand of fabric softener/conditioner to maintain the fabric quality, thus driving the growth of the fabric softener and conditioner segment.
North America generated the highest revenue in 2015, and is projected to remain one of the dominant markets throughout the analysis period. However, Asia-Pacific is expected to witness the fastest growth rate, owing to emerging economies such as India and China.
Get detailed COVID-19 impact analysis on the Fabric Wash And Care Market: https://www.alliedmarketresearch.com/request-for-customization/1914?reqfor=covid
The Covid19 pandemic has a vital impact on the growth of the global fabric wash and care market and altered several market scenarios. The lockdown across various countries and ban on international travel has disrupted the supply chain and revenue chain. The report includes a thorough analysis of the Covid-19 pandemic on the growth of the fabric wash and care market.
Key players profiled in this report include The Unilever Group, Procter & Gamble, Reckitt Benckiser Group, Henkel AG & Co. KGaA, The National Detergent Company SAOG, Church & Dwight Co. Inc., SEITZ GMBH, Nice Group, Wipro Enterprises Limited, and Colgate-Palmolive Company
Key Benefits for Stakeholders:
○ A quantitative analysis of the current scenario and the forecast period highlights the financial competency of the market.
○ A comprehensive analysis of the current trends and future estimations in the global fabric wash and care market are provided.
○ The report elucidates on key drivers, restraints, and opportunities along with a detailed impact analysis from 2014 to 2022.
○ Porter’s Five Forces model of the industry illustrates the potency of the buyers and suppliers in the market.
○ The report provides a detailed analysis of the global fabric wash and care market with respect to product types, application, and geography.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to offer business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domains.
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The main topic is the growth and analysis of the global fabric wash and care market from 2016 to 2022.
Market growth is driven by increased awareness, rising disposable incomes, and product diversification.
The Asia-Pacific region is expected to witness the fastest growth due to emerging economies like India and China.
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