growth in hospitality sector is driving the Detergent Market
Technavio analyzes that the Detergent Market is expected to grow at a CAGR of 5.95% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 33.9 billion.There are various factors that contribute to the growth of the market. The expansion of the hospitality sector has significantly contributed to the growth of the detergent market. With an increase in the number of hotels, resorts, and other accommodation facilities, there is a higher demand for commercial-grade detergents to maintain cleanliness and hygiene. These establishments require large quantities of detergents for laundry and dish washing, making the hospitality industry a major consumer segment in the detergent market. Additionally, the growing trend of home-sharing platforms like Airbnb has further fueled the demand for detergent products in the sector.
In the detergent market, synthetic surfactants, such as Alkyl benzene sulfonates, Anionic detergents, Cationic detergents, Zwitterionic detergents, and Non-ionic detergents, have replaced metal fatty acid salts in soapmaking. These detergents are manufactured as powder formulations, which serve multiple purposes including hard surface cleaners and laundry powders. Although soap is a constituent in powder detergents, its primary function is more akin to a foam depressant than a surfactant. Detergent powders offer convenience and efficacy in removing dust, grime, grease, and environmental pollutants, suitable for both hand washing and machine washing applications.
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Detergent Market Segmentation
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The market for household cleaning products, including detergent brands, experiences continuous growth due to increasing hygiene awareness and the rise of infectious diseases. Ultra-concentrated, single-dose detergents, and enzyme-based options dominate the laundry care sector. Consumers seek sustainable and eco-friendly alternatives like zero-waste detergents, natural ingredients, and herbal products. Household detergents and laundry care solutions cater to washing machines and hand washing, with liquid detergents, traditional powders, and single-dose pods available. Cold water compatibility, energy conservation, biodegradable, and plant-based detergents are popular trends. E-commerce platforms expand accessibility to these consumer goods.
The global household products sector encompasses non-durable items such as detergents, soaps, diapers, and paper products. Market expansion will be fueled by several key factors. One significant driver is the surge in online sales, particularly in emerging economies. In the last five years, e-commerce platforms have experienced substantial growth and are projected to continue expanding. This trend can be attributed to the numerous advantages offered by e-commerce, including convenience, seamless payment processing, discounts, and a vast product selection. Ultra-concentrated detergents, single-dose detergents, and enzyme-based detergents are among the popular household cleaning products that are increasingly being purchased online due to their effectiveness and added value. Furthermore, heightened hygiene awareness and the ongoing threat of infectious diseases have intensified the demand for superior laundry care solutions, thereby boosting the market growth.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.
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