PUBLISHER: KBV Research | PRODUCT CODE: 1450397
PUBLISHER: KBV Research | PRODUCT CODE: 1450397
The Global Liquid Detergent Market size is expected to reach $50.9 billion by 2030, rising at a market growth of 5.7% CAGR during the forecast period. In the year 2022, the market attained a volume of 5,854.4 Kilo Tonnes experiencing a growth of 7.4% (2019-2022).
The Asia Pacific region is experiencing rapid urbanization and population growth, leading to increased demand for household cleaning products, including these detergents. Consequently, the Asia pacific region would acquire nearly 28% of the total market share by 2030. Furthermore, with rising disposable incomes and changing lifestyles, consumers in the Asia Pacific region are increasingly prioritizing convenience and efficiency in their daily routines. Thus, these aspects will boost the demand in the segment.
The major strategies followed by the market participants are Product Launches as the key developmental strategy to keep pace with the changing demands of end users. For instance, in December, 2023, Godrej Consumer Products Ltd. unveiled Godrej Fab liquid detergent. The detergent is fully dissolvable in water which facilitates residue reduction. The detergent is compatible with both semi-automatic and fully automatic washing. Moreover, in July, 2023, Lion Corporation introduced NANOX gel detergent. The detergent features a combination of high detergency and deodorizing power along with a discoloration prevention feature.
Based on the Analysis presented in the KBV Cardinal matrix; The Procter and Gamble Company is the forerunner in the Market. In February, 2020, Procter & Gamble rolled out Microban 24, a range of antibacterial surface cleaning products. With this launch, the company aimed to offer a range of products with the ability to kill bacteria for 24 hours. Moreover, the new products are available in sanitizing cleanser and spray forms as well as a bathroom cleaner. Companies such as Unilever PLC, Henkel AG & Company, KGaA and Kao Corporation are some of the key innovators in Market.
Market Growth Factors
The market is highly competitive, with numerous brands vying for consumer attention. Product innovation enables brands to differentiate themselves from competitors by offering unique value propositions. Moreover, product innovation drives the introduction of specialty detergent products tailored to specific consumer needs and preferences. Therefore, product innovation and differentiation are propelling the growth of the market.
Urbanization leads to higher population densities and smaller living spaces, often with limited access to outdoor drying areas. As a result, urban dwellers rely more on washing machines and dryers for laundry care, driving up the frequency of laundry cycles. Furthermore, urbanization is often accompanied by improved infrastructure and higher household incomes, leading to increased adoption of modern appliances such as washing machines. Hence, the increasing urbanization and laundry frequency are driving the growth of the market.
Market Restraining Factors
Powder detergents are a primary alternative to these detergents and have been traditionally preferred by consumers due to their affordability and effectiveness in cleaning laundry. Additionally, specialized cleaning products, including eco-friendly detergents, fabric softeners, and stain removers, cater to niche consumer segments seeking specific cleaning solutions. Therefore, the competition from alternative cleaning solutions is hindering the growth of the market.
By Nature Analysis
Based on nature, the market is bifurcated into organic and conventional. In 2022, the organic segment garnered a 23% revenue share in the market. Consumers are becoming more aware of the environmental impact of conventional cleaning products, including these detergents. Organic detergents are formulated with plant-based ingredients and biodegradable surfactants, reducing their ecological footprint and minimizing environmental harm. Therefore, the increasing demand for natural products is propelling the growth of the segment.
By Application Analysis
On the basis of application, the market is segmented into laundry and dish washing. In 2022, the dish washing segment attained a 24% revenue share in the market. These detergents for dishwashing offer ease of use and convenience compared to traditional bar soaps or powdered detergents. Therefore, the segment will witness increased demand in the segment.
By End-use Analysis
By end-use, the market is divided into residential and industrial. The commercial segment procured a 30% revenue share in the market in 2022. The heightened awareness of hygiene and sanitation, especially in commercial space, has increased demand for these detergents. Detergents are often preferred for their convenience and effectiveness in maintaining cleanliness. Hence, these aspects will lead to enhanced growth in the segment.
By Sales Channel
Based on sales channel, the market is categorized into online sales channels, supermarket & hypermarket, departmental & convenience stores, and others. The online segment witnessed a 24% revenue share in the market in 2022. Online platforms offer consumers unparalleled convenience and accessibility when purchasing these detergents. Hence, the convenience of shopping provided by online platforms is driving the demand of the segment.
By Regional Analysis
Region-wise, the market is analyzed across North America, Europe, Asia Pacific, and LAMEA. The North America region witnessed 36.8% revenue share in the market in 2022. The rising demand for this detergent in North America can be attributed to changing lifestyles, effective cleaning performance, product innovation, the convenience of online shopping etc.As consumer preferences continue to evolve, manufacturers will adapt their offerings to meet North American consumers' diverse needs and preferences in the market. Therefore, these aspects will assist in the expansion of the segment.
Recent Strategies Deployed in the Market
List of Key Companies Profiled
Global Liquid Detergent Market Report Segmentation
By Nature (Volume, Kilo Tonnes, USD Billion, 2019-2030)
By Application (Volume, Kilo Tonnes, USD Billion, 2019-2030)
By End-use (Volume, Kilo Tonnes, USD Billion, 2019-2030)
By Sales Channel (Volume, Kilo Tonnes, USD Billion, 2019-2030)
By Geography (Volume, Kilo Tonnes, USD Billion, 2019-2030)