Dublin, Jan. 25, 2024 (GLOBE NEWSWIRE) -- The "Global Sponge and Scouring Pads Market 2024-2028" report has been added to ResearchAndMarkets.com's offering.
The global market for sponge and scouring pads is projected to experience significant expansion from 2023 to 2028, with expectations to advance at a Compound Annual Growth Rate (CAGR) of 4.83%.
The current shift toward sustainable and eco-friendly cleaning tools is identified as a key factor contributing to the market growth. An insightful industry analysis forecasts a surge of USD 1570.44 million in the market size during the period.
Growth Factors and Market Segmentation
This market is primarily driven by the increasing inclination of consumers towards online purchasing channels, combined with the burgeoning middle-class population and their rising disposable incomes. Furthermore, the proliferation of the hospitality industry, specifically the surge in hotels and restaurants, continues to prop up the demand for these essential cleaning tools. The analysis categorizes the sponge and scouring pads market into several segments:
- By End-user:
- Residential
- Non-residential
- By Distribution Channel:
- Offline
- Online
- By Geographical Landscape:
- APAC
- Europe
- North America
- Middle East and Africa
- South America
Leading Market Innovations
Notably, the study unveils the introduction of sponge and scouring pads crafted from eco-friendly materials as a primary impetus for market growth. With environmental concerns taking center stage, these sustainable materials are gaining consumer favor, thereby accelerating the market's expansion. The availability of a diverse product portfolio tailored for different applications, alongside customized sponge offerings, is anticipated to fuel the demand substantially.
Regional Insights and Industry Outlook
The market spans across pivotal regions with APAC, Europe, and North America emerging as key areas of interest for market players. The research report delivers a thorough regional analysis that underscores the potential in these dynamic landscapes. By tapping into the market's current scenarios and consumer trends, strategic forecasting aids businesses in navigating the evolving dynamics with greater agility.
The focus of this comprehensive research leans heavily into a meticulously performed vendor analysis, meant to guide interested clients toward enhancing their market positioning. The analysis is fortified by primary and secondary data, compiling inputs from authoritative industry participants.
Competitive Analysis and Opportunities
With a profound understanding of the key factors influencing market performance, the analysis delivers a potent blend of qualitative and quantitative research. It not only presents the competitive landscape but also outlines a detailed vendor selection methodology.
The result is a compelling forecast offering invaluable insights into accurate market growth. The overall market environment's cutting-edge trends and growth drivers are mapped in the report, equipping stakeholders with the knowledge needed to leverage future growth opportunities and establish a foothold in this flourishing sector.
A selection of companies mentioned in this report includes
- 3M Co.
- Americo Manufacturing Co.
- Amway Corp.
- ARIX POLSKA SP.zo.o.
- Armaly Brands Inc.
- Bio90 Manufacturing Canada Inc.
- Bombril SA
- Corazzi Fibre Srl
- Freudenberg and Co. KG
- Henkel AG and Co. KGaA
- Jyothy Labs Ltd.
- Kiwi Scourers Ltd.
- Newell Brands Inc.
- Scrub Daddy Inc.
- Sponge Technology Corp. LLC
- The Clorox Co.
- The Crown Choice
- The Libman Co
- Weiman Products LLC
- Fuller Brush Co.
For more information about this report visit https://www.researchandmarkets.com/r/qbg3ft
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