Portland, April 25, 2019 (GLOBE NEWSWIRE) -- Allied Market Research published a recent report, titled, “Liquid Detergent Market by Nature (Organic and Conventional), Application (Laundry and Dishwashing), Distribution Channel (Online Sales Channels, Supermarket & Hypermarket, Departmental & Convenience Stores, and Independent Grocery Stores), and End User (Residential and Commercial): Global Opportunity Analysis and Industry Forecast, 2018 - 2025”. According to the report, the global liquid detergent market accounted for $27.41 billion in 2017 and is expected to reach $40.48 billion by 2025, growing at a CAGR of 5.2% during the forecast period.
Surge in adoption of washing machines & dishwashers, shift in consumer preference towards liquid detergent, continuous product innovation, and improved performance drives the growth of the global liquid detergent market. However, the availability of counterfeit products and the high price of liquid detergent impede market growth. Nonetheless, a drive towards convenient packaging and shift of consumer inclination toward healthy lifestyle are expected to create lucrative opportunities for emerging market players in the future.
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By nature, the conventional segment held the largest share in 2017, contributing more than 90% of the total market share. However, the organic segment is poised to grow at the fastest CAGR of 6.6% during the forecast period, due to high inclination toward products made with natural ingredients among health-conscious consumers.
By application, the dish-washing segment is expected to register the highest CAGR of 6.1% from 2018 to 2025, on account of rise in penetration of dishwashers and introduction of liquid detergents with exotic fragrances. However, the laundry segment dominated the market in 2017 with nearly three-fourths of the total market share, owing to high penetration of washing machine in the developed countries.
Regionally, North America dominated the global market with about two-fifths of total share, owing to high penetration of washing machines and dishwashers in the region. However, the Asia-Pacific region is expected to manifest the fastest growth, registering a CAGR of 8.5% during the forecast period.
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The key players analyzed in the report include Procter & Gamble, Henkel Company KGaA, S. C. Johnson & Son, Inc., Reckitt Benckiser Group plc, The Clorox Company, Church & Dwight, Unilever Plc, Amway Corporation, Colgate-Palmolive, and Godrej Consumer Products. They have adopted different strategies including collaborations, joint ventures, partnerships, expansions, mergers & acquisitions, and others to gain a strong position in the industry.
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