The global household care market is anticipated to reach US$208.67 billion in 2027, growing at a CAGR of 3.08% during the period spanning 2023-2027. The growth in the market has been driven by factors like rising urban population, escalating migrants, rising female labor force, rising e-commerce penetration, rising per capita spending, increasing hygiene awareness, nuclear family, and middle class population. The market is expected to face certain challenges such as easy existence of counterfeit products and high competition. To overcome these challenges, the market would witness some key trends like escalating advertising campaigns, product innovation, sustainable and natural products, premium household care products, artificial intelligence, and stringent regulations.
The global household care market can be segmented as follows: Laundry care, Surface care, Dishwashing, Air care, Home insecticides, Bleach, Toilet care and Polishes. Laundry care held the largest share of the market in 2022. New features with product packaging and better benefits influence consumers to purchase household products. This is likely to have a beneficial impact on household product sales, such as laundry care solutions, which would drive the market growth.
The global household care market by region can be segmented into the following: Asia Pacific, North America, Western Europe, Latin America, Middle East & Africa, Eastern Europe, and Australasia. Asia Pacific held the largest share of the market in 2022. The rise of e-retailers, particularly in emerging regions, is quickening the pace of the business. Additionally, automation in the household market has fueled industrial product innovation, resulting in the biggest benefits for users. As a result, more market innovation is likely to boost Asia Pacific industry growth in the coming years.
Scope of the report:
• The report provides a comprehensive analysis of the global household care market, segmented into: laundry care, Surface care, Dishwashing, Air care, home insecticides, Bleach, Toilet care and polishes.
• The major regional markets Asia Pacific, North America, Western Europe, Latin America, Middle East & Africa, Eastern Europe, and Australasia have been analyzed.
• The market dynamics such as growth drivers, market trends and challenges are analyzed in-depth.
• The competitive landscape of the market, along with the company profiles of leading players (Proctor & Gamble, Unilever Group, Reckitt, Henkel, Kao Corporation, and Church & Dwight) are also presented in detail.
Key Target Audience:
• Household Care Manufactures
• End Users (Consumers, Hospitals, Restaurants)
• Household Care Firms
• Investment Banks
• Government Bodies & Regulating Authorities