According to a new report published by Allied Market Research, titled, 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.
Fabric wash and care products are used to clean garments, furniture and upholstery. 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.
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Based on 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.
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. 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/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 China and India.
Avail for Detailed COVID-19 Impact Analysis on the Fabric Wash and Care Market
The Covid-19 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 global fabric wash and care market.
Key Market Players Profiled In The Report:
• 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
• Colgate-Palmolive Company
• Rohit Surfactants Private Limited (RSPL)
• The Clorox Company
• Huntsman International LLC
• Kao Corporation
Key Benefits for Stakeholders:
○ 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.
○ A quantitative analysis of the current scenario and the forecast period highlights the financial competency of 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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Source: Allied Market Research
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