Laundry Detergent Market by Product Type (Powder, Liquid, Gel, and Pods/Tablets), Application (Household and Industrial), and Regional Analysis (North America, Europe, Asia-Pacific, and LAMEA): Global Opportunity Analysis and Industry Forecast, 2021–2028

Global Laundry Detergent Market Analysis

The global laundry detergent market size is predicted to garner $103,286.00 million in the 2021–2028 timeframe, growing from $61,711.00 million in 2020, at a healthy CAGR of 6.70%.

Market Synopsis

Strategic alliances among market players, along with growing demands for laundry detergent across the globe, are expected to accelerate the growth of the laundry detergent market.

However, complexities in manufacturing laundry detergent are some of the growth-restricting factors for the market.

According to the regional analysis, the Asia-Pacific laundry detergent market size is anticipated to grow during the review period and generate a revenue of $43,173.50 million, with CAGR of 7.30% due to increasing demand for laundry detergent in the region.

Laundry Detergent Overview

Laundry detergent is a type of detergent that cleans the dirt that is present on the laundry or clothes. Laundry detergents are in many forms that include liquid, powder, gel, and pods form. Some of the components that are present in laundry detergents are bleach, surfactants, soil anti deposition agents, and enzymes.

Covid-19 Impact on Laundry Detergent Market Shares

The global market for laundry detergent is estimated to experience a moderate growth amid the COVID-19 pandemic. Disruptions in supply chain and limited manufacturing facilities across the globe have hit the supply chain and it is impacting the businesses and workers engaged in it.

However, the start-ups and established companies operating in global laundry detergent market are trying their best to provide laundry detergent amidst shutdowns. For instance, Unilever, consumer based company, announced in April 2021, that they are in partnership with LanzaTech and India Glycols, for producing a surfactant that is made of industrial carbon emissions in place of fossil-fuels. This innovation shift towards the production that utilizes the biotechnologies has configured supply chain between all the partners.

Increasing Household Expenditure for Laundry Detergent to Surge the Market Growth

The global laundry detergent industry is witnessing a massive growth mainly due to increasing demand for laundry detergent drugs owing to growing concerns regarding the health and hygienic living among the people. Also, rising capita spending on household cleaning products is one of the aspects that is accelerating the growth of global laundry detergent market. Moreover, laundry detergents have low R&D costs; all such factors may fuel the growth of the global laundry detergent market.

Furthermore, now-days fresh fragrances are trending because of which people are buying detergents that have different fragrances making them popular among urban areas, these factors are thereby driving the market growth. Moreover, increasing urban and fast-moving lifestyles are already motivating leading market players to innovate strategies to attract customers. These types of factors are predicted to drive the growth of the market.

To know more about global laundry detergent market trends, drivers, get in touch with our analysts here.

High Cost of Laundry Detergent to Restrain the Market Growth

There are many fake products launched in laundry detergent industry and it is very difficult to distinguish between the fake and original products. Moreover, most of the detergents are made up of petroleum, so manufacturers are dependent on the volatile oil industry. Therefore, manufacturers are searching for alternatives that are of low cost. These are some of the factors anticipated to hinder the market value of the laundry detergent in the next few years.

Growing Trends of Green Laundry Products to Create Massive Investment Opportunities

The global laundry detergent market is growing at a very fast pace due to rising living standards of people which is encouraging them to buy best quality products for their day to day lives. People across the globe are opting for laundry detergents which offer components that are biodegradable such as natural washing soda, coconut oil, plant based enzymes, and mineral based surfactants. All these factors will bring lucrative market opportunities for key players in the upcoming years.

To know more about global laundry detergent market trends, opportunities, get in touch with our analysts here.

Source: Research Dive Analysis

The powder type sub-segment is predicted to have a dominating share as well as fastest market growth in the global market and register a revenue of $44,206.90 million during the forecast period. Laundry detergent powders are used for cleaning dirty clothes or laundries. Some of the components that are used in making a laundry detergent powder generally include bleach, soil anti-deposition agents, water softeners, foam regulators, surfactants, enzymes, optical brighteners, fragrances, dyes, and corrosion inhibitors. These factors and strategic alliances may bolster the growth of the sub-segment during the forecast period and increase laundry detergent market demand.

Source: Research Dive Analysis

The household sub-segment of the global laundry detergent market is projected to be the dominant as well as have the fastest growth and surpass $70,540.30 million by 2028, with an increase from $41,775.80 million in 2020. Household use of laundry detergent is increasing due to growing busy lifestyle which will lead to increase in the sale of washing machines globally, driving the sub-segment growth.   

Source: Research Dive Analysis

The Market for Laundry Detergent in Asia-Pacific to be the Most Dominant and Fastest Growing

The Asia-Pacific laundry detergent market accounted $24,622.70 million in 2020 and is projected to register a revenue of $43,173.50 million by 2028. The extensive growth of the Asia-Pacific laundry detergent market is mainly driven by factors such as high number of people using laundry detergent in daily life in Asian countries like India, Japan, and Australia. In addition to this, Asia-Pacific has significant market for laundry detergent owing to rising population in region along with growing disposable income across the consumers. Moreover, the rising health concerns and cleanliness after the COVID-19 pandemic among consumers especially in India, China, Japan, and Australia are driving laundry detergent market. Such types of elements showcase that the demand for laundry detergent will exponentially increase, which will eventually accelerate the Asia-Pacific laundry detergent market, in the upcoming years.

Competitive Scenario in the Global Laundry Detergent Market

Product launches and mergers & acquisitions are common strategies followed by major market players.

Source: Research Dive Analysis

Some of the leading laundry detergent market players are BASF SE, Unilever, Church & Dwight Co., Inc., The Clorox Company, P&G, NIRMA LIMITED, Henkel AG & Co. KGaA, The Sun Products Corporation, Rochester Midland Corporation, and GOJO Industries, Inc.

Porter’s Five Forces Analysis for the Global Laundry Detergent Market:

• Bargaining Power of Suppliers: The product suppliers of laundry detergent market are high in number and are larger and more globalized. Bargaining power of supplier depends upon production process and raw material requirement. So, there will be less threat from the suppliers. 
  Thus, the bargaining power of suppliers is low. 
• Bargaining Power of Buyers: Buyers have huge options to select from different laundry detergents; this has increased the pressure on the laundry detergent providers to offer the best product. This gives the buyers the option to freely choose laundry detergent products that best fit their preferences. 
  Thus, the bargaining power of the buyers is high. 
• Threat of New Entrants: Companies entering the laundry detergent market are adopting various innovations but companies that are already in the laundry detergent market are more globalized, 
  Thus, the threat of the new entrants is low.
• Threat of Substitutes: There is no substitute available for laundry detergent.
  Therefore, threat of substitutes is low. 
• Competitive Rivalry in the Market: The competitive rivalry among industry leaders is rather intense, especially between the global players including BASF SE and Unilever. These companies are launching their value-added services in the international market and strengthening the footprint worldwide.
  Therefore, competitive rivalry in the market is high.