LONDON--(BUSINESS WIRE)--Technavio has been monitoring the laundry care market since 2018 and the market is poised to grow by USD 26.42 billion during 2020-2024, at a CAGR of 5% during the forecast period. Request free sample pages
Read the 120-page research report with TOC on "Laundry Care Market Analysis Report by Product (Laundry detergent, Fabric softener, and Others), Distribution channel (Offline and Online), and by Geography (APAC, North America, Europe, MEA, and South America), and Segment Forecasts, 2020 – 2024."
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The market is driven by the continuous product innovation and portfolio extension. In addition, the emergence of eco-friendly and sustainable products in laundry care is also anticipated to drive the laundry care market growth during the forecast period.
Household product manufacturers are emphasizing on investing in R&D to launch new and premium products. Companies are focusing on offering products with unique benefits and packaging differentiation. In addition, new features with product packaging and enhanced benefits are also influencing consumers to buy household products. This is expected to have positive impact on the sales of household products such as laundry care solutions, which in turn, will drive the market growth during the forecast period.
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Five Major Laundry Care Market Vendors:
Church & Dwight Co. Inc.
The company offers wide range of laundry care products through multiple brands such as Arm and Hammer, OxiClean, and Xtra. In March 2019, the company signed an agreement with Ideavillage Products Corporation to acquire the FLAWLESS and FINISHING TOUCH brands of hair removal products.
Colgate-Palmolive Co.
The company offers wide range of laundry care products through multiple brands such as Brite, SpeedStick, Suavitel, Softlan, Cuddly, Sta-Soft, Fabuloso, Soupline, and Fluffy. In July. 2019, the company signed an agreement to acquire the Laboratoires Filorga Cosmétiques (Filorga) Skin Care Business for USD 1,690 million. In August 2018, the company acquired a 14% stake in Bombay Shaving Company for USD 2.6 million. In May 2019, the company announced to acquire up to 21% shares of Colgate-Palmolive (Pakistan) Limited.
Godrej Consumer Products Ltd.
The company, through its brand Ezee, offers a wide range of laundry care products. In August 2018, the company sold its UK unit to JZ International for USD 44 million. Product launches In September 2018, the company's brand Cinthol launched 8 new variants for face, body, hair, and beard applications of male grooming products. In May 2018, the company's brand Goodknight launched power chip, the latest innovation in the household insecticide category.
Henkel AG & Co. KGaA
The company offers heavy-duty and specialty detergents and laundry additives. In November 2019, the company entered into a partnership with Rapid Shape GmbH for novel 3D printing solutions. In November 2019, the company entered into a partnership with Shapeways Inc. (Shapeways) to further enhance the accessibility of Henkel's Loctite 3D printing materials to the company's customer base by using Shapeways’ proprietary technology and 3D production expertise. In November 2019, the company entered into an agreement to acquire professional hair care business, DevaCurl, from Deva Parent Holdings.
Kao Corp.
The company offers a wide range of laundry care products which includes fabric care products (Attack laundry detergent) and fabric softeners (Flair Fragrance). In August 2018, the company acquired Washing Systems LLC, a provider of wash products and processes for water-based textile cleaning and waste-water treatment to textile rental and laundry companies in North America and Europe.
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Laundry Care Product Outlook (Revenue, USD Million, 2020 – 2024)
- Laundry detergent
- Fabric softener
- Others
Laundry Care Distribution Channel Outlook (Revenue, USD Million, 2020 – 2024)
- Offline
- Online
Laundry Care Regional Outlook (Revenue, USD Million, 2020 – 2024)
- North America
- APAC
- Europe
- South America
- MEA
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