According to a new report published by Trends Market Research, titled, “Global High-efficiency Laundry Liquid Detergent Market by End User and Distribution Channel: Global Opportunity Analysis and Industry Forecast, 2018–2025,” the global high-efficiency laundry liquid detergent market size was $6.7 billion in 2017, and is projected to reach $10.9 billion by 2025, registering a CAGR of 6.5% from 2018 to 2025.
High-efficiency laundry liquid detergent are formulated to be quick-dispersing and low-sudsing to achieve efficient cleaning using high-efficiency washers. These detergents are designed to eliminate odor and freshen & brighten fabrics. In addition, they hold dyes, dirt, and soil in suspension while operating in low water volumes. The home care industry is evolving constantly in response to changing consumer trends globally. Leading manufacturers in the region are continuously making efforts to develop sustainable, efficient, and innovative high-efficiency laundry liquid detergent products. In addition, formulation of liquid detergents to work efficiently in low temperature water is driving the market across the regions.
Upsurge in popularity of high-efficiency washers and increase in awareness of these washers are the key factors that drive the growth of the global high-efficiency laundry liquid detergent market. Furthermore, rise in need for energy conservation and enforcement of stringent regulations to curb water usage, and upsurge in demand for laundry liquid detergent are anticipated to boost the market growth.
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However, high prices of high-efficiency laundry liquid detergent as compared to their counterparts is anticipated to restrain the market growth in the upcoming years. In addition, liquid detergent are packed in rigid packaging made up of non-recyclable plastics, which pose additional burden on the environment. On the contrary, innovations in packaging and formulation and introduction of convenient packaging, such as recyclable pouches and sachets, are expected to offer remunerative opportunities for high-efficiency laundry liquid detergent market expansion. Furthermore, stakeholders in the high-efficiency laundry liquid detergent industry are rolling out policies to strike balance between formulation, convenience, product differentiation, and prices to explore new opportunities.
Increase in retail sales channel penetration in developing markets has created new avenues for growth of high-efficiency laundry liquid detergent market. Moreover, upsurge in deals and discounts being offered to customers has resulted in dominance of hypermarket and supermarket in the global high-efficiency laundry liquid detergent market. Furthermore, hypermarket and supermarket are projected continue to remain the most preferred distribution channels during the forecast period. However, liquid detergent can be conveniently sold through online sales channels. Rigorous online marketing supplemented with availability of detailed information, discount & free home delivery offered by various e-commerce platforms have increased the popularity of online distribution channel in the recent years.
According to Shankar Bhandalkar, Team Lead-Research, Consumer Goods at Allied Market Research, “Increase in penetration of high-efficiency washers and continuous innovation in product functionality along with aggressive promotional and advertising strategies by leading market players are expected to augment the growth of the high-efficiency laundry liquid detergent market.”
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KEY FINDINGS of THE STUDY
• North America is the leading consumer of high-efficiency laundry liquid detergent, and is expected to retain its dominance during the forecast period.
• The consumption of high-efficiency laundry liquid detergent in Europe was about 341,392.9 MT in 2018, and is estimated to grow at a CAGR of 6.2%.
• In 2018, based on end user, the residential segment accounted for about 80% of the global high-efficiency laundry liquid detergent market share, and is expected to grow at the CAGR of 6.3%.
• Consumption of high-efficiency laundry liquid detergent by commercial segment is estimated to be around 799,503.5 MT by the end of forecast period, registering a CAGR of 6.5%.
• In 2018, based on region, Asia-Pacific is anticipated to grow with highest CAGR of 8.9%.
Some of the key players in the high-efficiency laundry liquid detergent market analysis includes Biokleen, Church & Dwight, Inc., Colgate-Palmolive Company, Ecolab Inc., Henkel AG & Co. KGaA, Procter & Gamble, Reckitt Benckiser Group plc, The Clorox Company, Unilever and Venus Laboratories DBA