Detergents Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)Posted by Statzy Market Research on April 20th, 2021 The market was negatively impacted by COVID-19 in 2020. Several countries were forced to go in lockdown owing to the pandemic scenario, which led people to minimize the usage of personal vehicles, thus creating a negative impact on the fuel demand and in-turn decreasing the demand of fuel additives and detergents. According to OICA, global automotive production has witnessed a decline of approximately 23% in Q3 of 2020 compared to Q3 of 2019. However, the consciousness regarding personal hygiene and clean surrounding has increased in the current situation, which has stimulated the demand for laundry and household cleaning products, thus enhancing the market growth of detergents. - On the flip side, stringent environmental regulations on the use of detergents and the negative impact of the COVID-19 outbreak on the market are hindering the growth of the market. - Asia-Pacific region is expected to dominate the market across the globe with the largest consumption from countries such as China and India. Free Sample report for this report is available :-https://www.statzyreports.com/report/sr496917/detergents-market - In 2019, the laundry care segment accounted for more than 50% of the home & laundry care market globally, in terms of revenue, and is likely to increase in the forecast period owing to increasing hygiene consciousness among consumers, which in-turn is expected to boost the market demand. - With the technological advancements, the laundry-liquid manufacturers now use a new ingredient known as rapeseed oil (non-GMO) that offers benefits with its low foaming properties. - Foam is detrimental to the washing process and may result in about 50% loss of the washing strength. Laundry liquid is formulated for pre-spraying of stubborn stains on garments. It helps in removing even the toughest stains and offers exceptional cleaning results. - Liquid laundry detergent is primarily used in cleaning laundry and has two main end-user segments, such as residential and commercial. The commercial applications are in the textile industry, hospitality industry, laundry services, and other industries, whereas residential applications include its use in household cleaning. The demand for liquid laundry detergent is growing, owing to the comfort and ease of application and lesser wastage, compared to detergent powders. - North America is currently the leading region in the case of global demand and consumption for laundry liquid detergent. The United States is among the developed markets for household and industrial detergents, and hence, it concentrates on exports. The Middle-East is also an emerging market, with increasing industrial growth and a rise in demand. - Owing to all these factors, the market for detergents is likely to grow globally during the forecast period. - China is estimated to continue its dominance during the forecast period, primarily due to the increasing household applications. The country witnessed about 6.1% growth in its GDP during 2019, even after the trade disturbance caused due to its trade war with the United States. The economic growth rate of China in 2020 was initially expected to be moderate as compared to the previous year. - However, due to the onset of COVID-19 in 2020, the economic growth of China is estimated to contract to some extent and is expected to witness recovery in 2021. - In 2019, retail sales of liquid detergents and liquid tablet detergents in China were valued to be USD 3,789 million and USD 73 million respectively, which is likely to enhance in the projected timespan, thereby stimulating the regional market growth. - In October 2019, BASF SE has positioned to increase the annual production capacity of Alkyl Polyglucosides (APG), a non-ionic surfactant, from 20 kilotons to 30 kilotons at its Jinshan site in China to reliably fulfill the strong demand for the detergent-based home and personal care regional market, which in-turn stimulates the market growth. - Fast Moving Consumer Goods (FMCG) sector is the 4th largest sector in the Indian economy. India’s household and personal care is the leading segment, accounting for 50% of the overall market. The FMCG market was valued at USD 68.38 billion in 2018 and was estimated to reach USD 103.70 billion by 2020, registering a CAGR of 23.15%, which stimulates the demand for household and personal care segment, in-turn enhancing the demand for detergents market. - Rapid industrial expansion and urbanization in the country has led to the development of synthetic detergents, including laundry and household cleaning detergents. - Due to all such factors, the market for detergents in the region is expected to have a steady growth during the forecast period. For sample report please visit : https://www.statzyreports.com/report/sr496917/detergents-market Like it? Share it!More by this author |