Stain-Free Future: Laundry Care Market Targets US$ 180.3 Billion by...

Stain-Free Future: Laundry Care Market Targets US$ 180.3 Billion by 2033

Posted 2024-04-17 11:00:25

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The global laundry care industry is expected to be worth almost US$ 98.2 billion in 2022. It is thus expected to have produced US$ 180.3 billion by 2033, with a 5.7% CAGR from 2023 to 2033. The growing demand for laundry care products as a result of the expanding population in emerging nations is the primary driver driving the global market’s expansion.

The laundry care products market which comprise of detergents along with fabric conditioners is propelled by the consistently increasing need for laundering services in prominent industries such as hospitality, healthcare and food industry. However, as a result of the abundance of laundry service providers on the market, consumers have access to several affordable solutions.

Many laundry service companies today provide their clients with instant pickup, internet payment options and customer loyalty discounts in addition to fast services. First, there will be a huge demand for more resorts and hotels that would largely affect how the market of laundry care products grows during the forecast period as consumer sector increases.

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Chemical detergents along with cleaners frequently fall short of the performance of organic cleaners and detergents. They have components made from plants, which makes them preferred over those that employ chemicals.

If the laundry detergent is chemical-based, even recently cleaned garments could feel sticky. This is not the case, in contrast, when washing clothes with natural detergents. Utilizing organic detergents has the added benefit of utilizing less resources. Clothing is in continual touch with the skin throughout the day. It is possible that some residue will stay in the clothing and come into proximity to the skin if harsh or even chemical-based cleaning solutions are employed.

Key Takeaways from the Market Study

Between 2018 and 2022, sales of laundry care increased at a CAGR of 5.4%.
In 2022, it is predicted that the fabric softeners category would increase its market share to 23%.
Through 2023, the organic source type sector is anticipated to grow at a 5.5% CAGR to reach US$ 38.8 billion.
The liquid detergent market is anticipated to grow at a rate of above 5.5% CAGR through 2023, representing an additional potential of US$58.4 Bn.
The market for laundry care products in India will grow at a 5.8% CAGR between 2023 and 2033.
According to estimates, the United States dominates the global market for laundry care with about 17.6% of total sales.

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“The increasing need for laundry care products as a result of the expanding population in emerging regions is the main factor driving the growth of the worldwide market. Customers are further enticed to shell out more on textile care and cleaning supplies by the availability of a variety of wash & care solutions.” remarks an FMI analyst.

Key Segments Profiled in the Global Laundry Care Market

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