Liquid Laundry Detergent Market Growth& Forecast Report by 2027; Major Growth Opportunities 2027Fortune Business Insights™

The global liquid laundry detergent market size size is predicted to reach USD 33.24 billion by 2027, exhibiting a CAGR of 5.8% during the forecast period. The rising shift from powder detergent to liquid detergent owing to its formula to remove tough stains in one wash will spur demand for the market, states Fortune Business Insights in a report, titled “Liquid Laundry Detergent Market Size, Share & Industry Analysis, By Application (Household, and Industrial & Institutional, {Laundry & Dry Cleaning Service, Hotel & Other Lodging, Healthcare, Textile Industry, and Others}), and Regional Forecast, 2020-2027” the market size stood at USD 21.25 billion in 2019.

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Market Driver:

 

Heavy Demand for Automatic Washing Machines to Propel Market

 

The rising necessity for washing machines in the residential sector is a key factor driving the market. The growing demand for fully automatic washing machine owing to its user-friendliness and lowtime consumption  time will subsequently aid the expansion of the market during the forecast period. The ability to both wash and whirl in fully automatic washing machines along with being eco-friendly will promote its use, which, in turn, will foster the growth of the market. The evolvement from semi-automatic to fully automatic washing machine owing to its capacity to offer efficient and stain removal operations will have a positive impact on the market. The growing popularity of automatic machines in the household and the residential sector will drive the market. Moreover, the increased spending on household accessories and machines will consequently boost the market in the foreseeable future. In addition, the introduction of innovative products by major brands will spur opportunities for the market in the forthcoming years. For instance, Kao Corporation a Japanese chemical and cosmetics company announced the launch of concentrated liquid laundry detergent "Attack ZERO.” The new concentrated liquid detergent is the first of Kao's exclusively designed product series formulated as its key ingredient.

 

Regional Analysis:

Rapid Urbanization to Augment Growth in Asia Pacific

The North America market size stood at USD 6.94 Billion in 2019 and is expected to grow rapidly during the forecast period. The growth in the region is attributed to the surge in the hospitality and textile industries. The rising inclination towards a healthy lifestyle coupled with concerns regarding home care hygiene will accelerate the healthy growth of the market. The rising household spending will further influence growth in the region. Asia Pacific is predicted to dominate the market during the forecast period owing to the increasing product awareness in the emerging nations. The rapidly evolving industries in the developing countries such as India and China will have a tremendous impact on the market. The rapid urbanization and high demand for washing machines will create lucrative opportunities for the market in the foreseeable future.

Key Development:

September 2018: DuPont Industrial Biosciences, a leader in biotechnology introduced PREFERENZ, a detergent Line for liquid laundry. The company plans to enhance its enzyme portfolio to the next level by launching PREFERENZ P 300, including several PREFERENZ products, as well as EFFECTENZ and REVITALENZ.

The Report Lists the Main Companies in the Liquid Laundry Detergent Market:

·         Procter & Gamble (U.S.)

·         Unilever (U.K.)

·         Lion Corporation (Japan)

·         KAO CORPORATION (Japan)

·         Henkel AG & Co. KGaA (Germany)

·         Church & Dwight Co., Inc. (U.S.)

·         Reckitt Benckiser Group plc (U.K.)

·         Wipro Consumer Care and Lighting (India)

·         Seventh Generation Inc. (U.S.)

·         Guangzhou Blue Moon Industrial Co., Ltd. (China)

·         Other Key Players

 

 

Information Source:

https://www.fortunebusinessinsights.com/liquid-laundry-detergent-market-102962

 

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