Household Cleaning Products Industry is expected to witness Incredible Growth during 2024-2032
The global household cleaning products industry was valued at USD 259.04 billion in 2023 and is projected to be worth USD 270.36 billion in 2024 and reach USD 379.76 billion by 2032, exhibiting a CAGR of 4.4% during the forecast period. This can be credited to the increasing awareness regarding hygiene among consumers. The constant developments in the household cleaner sector are also likely to boost the industry demand. A lack of hygiene at home leads to numerous health issues such as diarrhea, Buruli ulcer, etc., making it important for consumers to maintain proper hygiene.
Rising awareness among people regarding keeping the household clean has become one of the primary driving factors for the household cleaner industry growth. Additionally, the easy availability of household cleaners coupled with several variations including different fragrances is also likely to boost the industry advancement. Furthermore, changing lifestyles, rapid urbanization, preference towards maintaining surroundings and personal hygiene, and indulgence regarding clean and neat living spaces are anticipated to propel the growth of this industry in coming years.
Due to rising consumer worries about health and cleanliness, the COVID-19 pandemic has led to a dramatic surge in household cleaning goods throughout the world. Rising disposable income and rapid urbanization, leading to substantial infrastructural developments, are poised to raise the demand for household cleaning products in the future years. Additionally, an increase in demand for sustainable and eco-friendly household cleaning products is likely to create more opportunities for this industry, thus significantly driving the growth of this industry during the forecast period.Due to the advent of the COVID-19 pandemic, the demand for household cleaners has risen dramatically, offering numerous growth opportunities for industry players. Rising awareness among people owing to the spread of the COVID-19 virus is driving the growth of the industry during the pandemic.
The industry has been pushed in recent years by an increase in the frequency of the COVID-19 pandemic, as well as a greater focus among individuals on cleaning and maintaining a hygienic environment. Moreover, the growing demand for eco-friendly cleaning products is likely to offer promising opportunities for industry leaders.
As there has been a rise in the adoption of chemical-free housing cleaners, key companies are launching new fragrances such as citrus and natural deodorizers, and the use of fresheners as perfumes is a key component in industry buying decisions. Leading industry players are also maximizing the use of online platforms by selling their items through their websites and listing them on major social media platforms, in order to increase their industry exposure and reach a wider consumer base.
Environmental concerns, and the subsequent drive for sustainable products, is one of the major trends prevailing in the global industry. Consumer environmental friendliness mostly relates to a preference for recycled and recyclable packaging, as well as low-temperature items and non-harmful & chemical-free products. Thus, the rising inclination towards chemical-free components is expected to have a profound impact on the global industry.
Source- https://www.fortunebusinessinsights.com/ko/household-cleaning-products-market-103286
Industry Scope of the Report:
The Industry estimates presented in the report result from a comprehensive research approach involving various research channels such as primary research, secondary research, and subject-matter expert consultations. These Industry estimates consider the influence of existing Industry dynamics and a range of economic, social, and political factors on the Household Cleaning Products Industry. Additionally, the Industry data is shaped by regulations, government expenditures, and advancements in research and development. Both positive and negative Industry changes are factored into these estimations.
North America Remains the Largest industry
The North American industry is expected to experience considerable growth backed by the rising environmental concerns that are propelling the demand for safe and organic homecare products during the forecast period. The adoption of a healthier lifestyle, coupled with the increasing concern for hygiene, has been one of the key drivers for the household cleaners industry in North American countries such as the United States and Canada over the past few years. The well-established real estate sector, household expenditure, and growth in housing units are some of the factors increasing the sales of household cleaners in the United States. Also, the increasing use of household cleaners such as surface deodorizers is expected to boost the demand for household cleaners in the region. Thus, manufacturers are introducing new fragrances such as citrus and natural deodorizers, and using fresheners as fragrances is a decisive factor of purchase in the industry. For instance, in February 2022, SC Johnson Professional launched its Quaternary Disinfectant Cleaner in a new easy-to-measure, squeeze-and-pour bottle. The product cleans, disinfects, and deodorizes in one labor-saving step and the packaging format simplifies measuring for dilution in a bucket, automatic scrubber, or spray bottle. The leading industry players are also leveraging online platforms optimally by selling their products through their websites as well as by listing the products on popular social media websites to improve their visibility and reachability in the region studied.
Industry Segmentation:
The study offers detailed segmentation of the global Household Cleaning Products Industry based on Type, End User, and region. The report provides in-depth discussions of these segments and their sub-divisions, supported by tables and figures. Industry players and investors can strategize their approaches based on the high-revenue and rapidly growing segments highlighted in the report.
Research Approach:
The report incorporates primary information collected directly from key stakeholders through quantitative and qualitative analyses utilizing the Porter Five Force model’s parameters. The report emphasizes macroeconomic indicators, trends within the parent Industry, and growth drivers. A comprehensive understanding of the Industry is achieved through both primary and secondary research. Rigorous checks were performed on the data used in the report to ensure its authenticity and quality. The credibility of evaluations and Industry segments is established using both bottom-up and top-down methodologies.
