Fabric Wash and Care Market Expected to Reach $ 197.53 Billion by 2031
Allied Market Research published a report, titled, "Fabric Wash and Care Market by Product Type (Detergent, Fabric Softener/Conditioner, and Bleach), Application (Residential, Hospitality, Healthcare, Automotive, and Aviation), and Distribution Channel (Hypermarkets/Supermarkets, Specialty Stores, Online, and Others): Global Opportunity Analysis and Industry Forecast, 2022-2031."According to the report, the global fabric wash and care industry generated $108.77 billion in 2021, and is estimated to reach $197.53 billion by 2031, witnessing a CAGR of 6.3% from 2022 to 2031.
Drivers, Restraints, and Opportunities
Change in consumer lifestyles, improved container design, and new product development drive the growth of the global fabric wash and care market. However, harmful effects of chemical-based products restrain the market growth. On the other hand, shift from plastic packaging to environmentally friendly packaging alternatives present new opportunities in the coming years.
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The fabric softener/conditioner segment to offer lucrative opportunities
Based on product type, the fabric softener/conditioner segment held the highest share in 2021, contributing to more than half of the global fabric wash and care market, and is projected to continue its leadership status throughout the forecast period. Moreover, this segment is expected to manifest the highest CAGR of 7.0% from 2022 to 2031, owing to increased consumer awareness for its numerous benefits, improvement in the effectiveness of products and services, and introduction of unique fabric conditioners using natural components and fragrances. The research also analyzes the segments including detergent and bleach.
The residential segment to continue its lead position during the forecast period
Based on application, the residential segment contributed to the highest share in 2021, holding more than one-fourth of the global fabric wash and care market, and is estimated to continue its lead position during the forecast period. Moreover, this segment is projected to portray the largest CAGR of 7.2% from 2022 to 2031. This is attributed to availability of a large number of economical detergents and fabric conditioners among home consumers. The research also analyzes the segments including hospitality, healthcare, automotive, and aviation.
Asia-Pacific, followed by North America, to maintain its dominant share in terms of revenue by 2031
Based on region, Asia-Pacific, followed by North America, accounted for the highest market share in 2021, holding nearly one-third of the global fabric wash and care market, and is projected to maintain its dominant share in terms of revenue by 2031. Moreover, this region is expected to manifest the fastest CAGR of 7.4% during the forecast period, owing to adoption of various cleaning products, rise in disposable income, and innovation in products by market players.
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Leading Market Players
Unilever Group
Procter & Gamble
Reckitt Benckiser Group
Henkel AG & Co. KGaA
The National Detergent Company SAOG
Church & Dwight Co. Inc.
SEITZ GMBH
Nice Group
Wipro Enterprises Limited
Colgate-Palmolive Company
Key Findings Of The Study
On the basis of product type, fabric softener/conditioner segment is projected to witness the highest CAGR of 7.0%, in revenue terms, during the forecast period.
On the basis of application, the residential segment is expected to dominate the market from 2022 to 2031.
On the basis of distribution channel, the online segment is expected to grow at a significant CAGR during the forecast period.
On the basis of region, Asia-Pacific is anticipated to witness highest growth rate, registering a CAGR of 7.4% from 2022 to 2031.
Key Benefits For Stakeholders
The report provides an extensive analysis of the current and emerging fabric wash and care market trends and opportunities.
The fabric wash and care market report provides detailed qualitative and quantitative analysis of the current trends and future estimations that help evaluate the prevailing fabric wash and care market opportunities in the market.
The fabric wash and care market forecast is offered along with information related to key drivers, restraints, and opportunities.
The fabric wash and care market analysis is conducted by following key product positioning and monitoring the top competitors within the market framework.
The fabric wash and care market report provides extensive qualitative insights on the potential and niche segments or regions exhibiting favorable growth.
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