Household Cleaning Products Market size shall reach a value of $4,570. Million in 2020 to $9,548. Million in 2027, growing with a CAGR of 11.1% during the forecast period of 2020 to 2027.
In the turn of the 21st century, the world has known rather revolutionizing changes, ranging from the rapid urbanization and intense globalization to an entire paradigm shift into the very basic needs of a human being, and it would be a colossal understatement not to mention the notion of hygiene and cleanliness into this context. The contemporary human cannot exclude the existence of running water and electricity in his day-to-day life just as much as he cannot bypass his need for the household cleaning products after evincing their high utility in ameliorating the overall living quality. The household cleaning products market is a burgeoning industry that brings back to the big frame of economy more revenues and profitability year after year, along with being a vital defense line against all the direct and indirect repercussions of the lack of hygiene.
The key factors catalyzing the growth of the household cleaning products market:
Analogically to all the existing markets, the household cleaning products market is subjected to the law of supply and demand, consequentially; the manufacturers proceed into the cycle of production only after being notified with an order placement by the end-user who happens to be the customer and indirectly the “market regulator”. In the past few years, this demand has grown exponentially after the shift in the common mindset regarding hygiene on a global scope; the world citizens became more aware of how crucial it is to maintain an admissible domestic cleanliness and grew more and more embracing of the idea of making compromises into their budgets for the household cleaning products.
This growth was supported all along the way with a heavy and targeted commercialization in which each business establishment relative to this segment displayed rather impressive properties for its products. Amidst this surfeit of attractive visuals and sensitizing healthcare campaigns, the customers soon found themselves immersed into the market of household cleaning products. Nowadays, the current viral outbreak situation promotes even more the acquisition of such chemicals and makes their existence within each household more crucial than ever. All the cleaning products stand in the defense line as a protecting mechanism to control the pandemic of the Coronavirus, therefore making the market grow rapidly and abruptly in relevance.
The study of the market of household cleaners:
This outlook will be held in different aspects, by dissecting the market into four vital fragments, namely the market size, share, segmentation and forecast.
The market size:
In 2019, the global household cleaning products market amounted to a value of about USD 30 billion. This overall revenue has been increasing over the past recent years and is expected to maintain this growth, as to reach around USD 40 billion by the year 2025, therefore scoring a CAGR of 5% during the abovementioned forecast period.
The market share:
The competitive landscape of the household cleaning products market is shaped by major lead players that retain a certain power in regulating it and conditioning its trends and dynamics. These renowned business establishments and manufacturers monopolize the global markets and target more niche segments by creating secondary sub-manufactures to create the illusion of concurrence within the market. Among these leads players, we can name Church & Dwight Co. Inc., Colgate-Palmolive Co., Henkel AG & Co. Godrej Consumer Products Ltd., KGaA, Kao Corp., Reckitt Benckiser Group Plc, S. C. Johnson & Son Inc., The Clorox Co., The Procter & Gamble Co. and Unilever.
The market segmentation:
This segmentation analysis will be carried out on three major levels; segmentation based on the geographical distribution, on the product type and distribution channels.
i. Geographical segmentation:
In terms of this distribution, the world is divided in five major regions: APAC, MEA, Europe, North and South America, each region retains its own market but influences directly the entirety of the global market. In the United States, roughly USD 750 were spent on household cleaning products per consumer unit in 2018, these expenditures have increased drastically in comparison with the previous years. Each region contributes differently into the market and within various sectors, for example, developing regions such as APAC and south America have massively supported the production for the surface cleaners, whereas the European market contributed with more than 46% of the global sales in the dishwashing segment, and the APAC provides the biggest market share of 39.41% in the toilet cleaning segment. Therefore, it avails that the global market is unevenly, yet complimentarily supplied by the various geographical regions.
ii. Segmentation based on the product type:
It is possible to discern between various typologies, namely surface cleaners, floor cleaners, bleaches, kitchen cleaners, bathroom cleaners and fabric care, etc. Each segment has its properties and responds differently to the law of supply and demand and to the market fluctuations. In terms of relevance, surface cleaners dominated the global household cleaning products market, as developed markets such as the U.S, Japan, Canada and Germany focused more on this segment, along with the increase of the consumption of this specific subtype in the developing markets such as China, India and Brazil, in the second position, comes the dishwashing products segment constituting along with the surface cleaners a global market value of USD 9 billion in 2019, whilst being projected to make more than USD 13 billion in the coming years.
Bathroom cleaners came in the third position of the largest market share with a prospect of a strong growth in the near future. Some other cleaning products namely bleach made low revenue in the global household cleaning products market share with a fall of 1.21%, a decline that can be justified with the decreasing consumption of bleaches by users with a preference oriented towards liquid and spray packaged cleaning products.
iii. Segmentation based on distribution channels:
The household cleaning products market comes to end of its commercial cycle within three main channels, namely the modern retailers such as hypermarkets and supermarkets, the traditional and local convenience stores and finally online stores. The cleaning products have shifted from being an inaccessible luxury in the counters of supermarkets to being heavily retailed and easily bought and delivered through various online platforms around the globe. Therefore, the question of availability of such products on the global market is rarely even mentioned nowadays.
The market forecast: Prospectus
Without any doubts, the household cleaning products market is expected to grow drastically in terms of the revenue and profitability, especially with the current sanitary crisis of the Covid-19 outbreak. However, the relevant forecast is not to be merely focused on the numerology of the results, it has to concentrate mainly on the upcoming trends, challenges and dynamics that will condition the market growth.
The priority of all the market lead players is to extend their portfolio and innovate in their products as much as possible, by basing their anticipated innovations on the pricing, components, packaging, and utility of these products. The real competition will no longer be about who provides the basic function of household cleaners, but it will be about who manages to offer the most “attractive” product that pairs between various properties (i.e. antibacterial and virucidal characteristics along with a skincare bonus, all whilst being eco-friendly). Manufacturers are working on high-tech complimentary advancements to enhance their products worth in the market (disinfectant sprays coming along with electrical sprayers).
On another note, with the high awareness attributed to climate change and the dangers of chemicals used in the manufacturing of these cleaning products, the lead players along with many newcomers are implementing a bio-friendly or a “green” approach in designing their products. Therefore, the global household green cleaning products market is anticipated to grow to USD 27.83 billion by the end of the year 2024 with a CAGR of 6.50%. However, this market is threatened by the limitedness of its offerings that can be qualified as “premium”, along with the narrowness of the distribution channels dedicated to this subtype, nonetheless the market is to be subjected to various opportunities of product innovation, commercialization and availability in retail stores in the upcoming years when the customers’ preferences take a more definite and a wider turn into the eco-friendly and natural products. In response, the market will already be robust enough to absorb all the demands and offer a supply thoroughly fed with innovative ideas and relevant benchmarks in the global scope.
As a concluding point, the global household cleaning products market is the direct result of the customer’s changing lifestyles and their growing focus on their hygienic needs in their different aspects, namely the sterilization of the surfaces, the storage of the food and protection from all potential harms linked to the lack of cleanliness. This awareness is only growing substantially as to demand a bigger and more exhaustive variety of household cleaning products leading its market to expand and adapt its supply with the requirements of the customers with a potential possibility of making it one of the top economic segments in terms of revenue, profitability and contribution in the well-being of the global citizens.
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