PUBLISHER: Bizwit Research & Consulting LLP | PRODUCT CODE: 1401405
PUBLISHER: Bizwit Research & Consulting LLP | PRODUCT CODE: 1401405
Global Laundry Detergent Sheets Market is valued at approximately USD 813.60 million in 2022 and is anticipated to grow with a CAGR of more than 15.1% over the forecast period 2023-2030. Laundry detergent sheets are compact, convenient, and innovative alternatives to traditional liquid or powder detergents. These sheets are typically made of a water-soluble material that contains concentrated detergent, enzymes, and other cleaning agents. When placed in the washing machine with clothes, the sheet dissolves, releasing the detergent and effectively cleaning the laundry. The sheets are designed to be pre-measured, eliminating the need for measuring cups and reducing the risk of detergent waste. They are also lightweight and easy to store, making them ideal for travel or small living spaces. Furthermore, rising disposable income, emerging global markets, and growing urbanization elevate the market space during the forecast period of 2023-2030.
In addition, Moreover, the growth of the e-commerce sector is the key driving factor for the market growth across the globe. According to the India Brand Equity Foundation (IBEF) in 2023, the laundry detergent sheets market benefit from the overall growth of the e-commerce market, which is projected to reach USD 350 billion by 2030. With an expected growth rate of 21.5% to reach USD 74.8 billion in 2022, the expanding prevalence of e-commerce globally is have a significant impact on the growth trajectory of the Laundry Detergent Sheets Market. This indicates a promising opportunity for manufacturers and sellers of laundry detergent sheets to leverage the growing e-commerce platform to reach a wider consumer base and drive market expansion. According to Statista in 2023, the United States had the highest gross adjusted per capita household disposable income among OECD countries, totalling around USD 62,335 in 2021. Luxembourg ranked second with approximately USD 51,465 closely followed by Australia in third place. Thus, these countries' relatively higher disposable incomes in these nations create an attractive market for premium products like laundry detergent sheets. Manufacturers and sellers in the Laundry Detergent Sheets Market tap into the potential of these affluent consumer bases to drive growth and market expansion. However, limited consumer awareness and the prevalence of high competition are hampering the market's growth during the estimated period.
The key regions considered for the Global Laundry Detergent Sheets Market study includes Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. North America dominates the Laundry Detergent Sheets Market due to several factors. The region's consumer awareness and adoption of new laundry products, affluent consumer base, established retail infrastructure, and growing environmental consciousness contribute to its market dominance. Additionally, effective marketing and promotion strategies have further boosted the popularity and demand for laundry detergent sheets in North America. Asia Pacific region is witnessing the fastest growth in the Laundry Detergent Sheets Market due to several key factors. These include rapid urbanization, a rising middle-class population with higher disposable incomes, increasing awareness of environmental sustainability, and the growing accessibility of online platforms for purchasing laundry detergent sheets. These factors collectively contribute to the region's accelerated market growth in the laundry detergent sheets segment.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.
The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
List of tables and figures are dummy in nature, final lists may vary in the final deliverable
List of tables and figures are dummy in nature, final lists may vary in the final deliverable