Household cleaning products market size to grow by USD 14.84 billion between 2022 and 2027; Driven by product innovation and portfolio extension – Technavio
NEW YORK, March 6, 2023 /PRNewswire/ — According to Technavio, the global household cleaning products market size is estimated to grow by USD 14.84 billion from 2022 to 2027. The market is estimated to grow at a CAGR of 4.6% during the forecast period. COVID-19 had the most negative impact on the global automotive industry in recent years, resulting in a steep demand fall and a large-scale supply chain disruption. It has exerted intense pressure on an already-stressed global automotive market. Yet, there are high predictions that few countries are bringing manufacturing facilities and production back on track, indicating that the supply side is on a restoration line. For more insights on the historic information (2017 to 2021) and forecast market size (2023 to 2027) – Request a sample report
What’s New?
Global Household Cleaning Products Market – Segmentation Assessment
Segment Overview
Technavio has segmented the market based on the product (surface cleaners, dishwashing products, toilet cleaners, and other cleaning agents), distribution channel (offline and online), and geography (APAC, North America, Europe, South America, and Middle East and Africa).
Geography Overview
By geography, the global household cleaning products market is segmented into APAC, North America, Europe, South America, and Middle East and Africa. The report provides actionable insights and estimates the contribution of all regions to the growth of the global household cleaning products market.
Insights on the market contribution of various segments including country and region wise, historic (2017 to 2021), and forecast market size (2023 to 2027) – Download a Sample Report
Global Household Cleaning Products Market – Market Dynamics
Key growth driver
The growth of the market is driven by product innovation and portfolio extension. Vendors in the market are coming up with new and innovative products to capture customer interest and gain a competitive advantage. They are implementing technological advancements such as the use of prototyping machines, adopting refilling technology, and introducing spray form of products. Also, the growing awareness about a healthy and pleasant environment at home has encouraged several vendors to introduce products that have different fragrances. Such product innovations by vendors are driving the growth of the market.
Leading trends influencing the growth
The growing demand for premium products is the key trend in the market. The demand for premium household cleaning products is increasing in developed countries such as the US, the UK, Canada, and Japan. Consumers in these countries are well-informed of the availability of advanced cleaning products and hence, look for products that offer better performance and quality. To capitalize on this demand, vendors are introducing a wide range of premium household cleaning products. This trend will have a positive impact on the growth of the market during the forecast period.
Key challenge affecting the market growth
The need to balance production cost, price, and quality of products is a major challenge affecting the growth of the market. Vendors in the market continuously strive to introduce new and innovative products to stay ahead of the competition. However, it is challenging for them to continuously adapt to new production processes and comply with various quality standards of finished products. In addition, the increase in procurement costs, such as raw material and logistics costs, are forcing them to operate on low-profit margins. Such challenges are hindering the growth of the market in focus.
Insights on Market Drivers, trends, & Challenges, historic period (2017 to 2021), and forecast period (2023 to 2027) – Request a sample report!
What are the key data covered in this household cleaning products market report?
Gain instant access to 17,000+ market research reports.
Technavio’s SUBSCRIPTION platform
Related Reports:
Household Cleaning Products Market Scope
Accelerate at a CAGR of 4.6%
APAC, North America, Europe, South America, and Middle East and Africa
US, China,UK, Canada, Mexico, Italy, Spain, India, Japan, Australia, and South Korea
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks
Key companies profiled
3M Co., Bombril SA, Church and Dwight Co. Inc, Dropps, Godrej Group, Henkel AG and Co. KGaA, Kao Corp., Kimberly Clark Corp., McBride Plc, Reckitt Benckiser Group PLC, RSPL Ltd., S.C. Johnson and Son Inc., Saraya Goodmaid Sdn. Bhd., Star Brands Ltd, The Clorox Co., The Procter and Gamble Co., Unilever PLC, Venus Laboratories Inc., Wipro Ltd., and Zep Inc.
Market dynamics
Parent market analysis, market growth inducers and obstacles, fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and market condition analysis for the forecast period.
Customization purview
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.
Table of contents:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Product
7 Market Segmentation by Distribution Channel
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
About Us
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
Contact
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com/
SOURCE Technavio