Wilmington, Delaware, United States, Sept. 01, 2023 (GLOBE NEWSWIRE) -- Transparency Market Research Inc. - The global detergents market is projected to flourish at a CAGR of 4.3% from 2022 to 2031. As per the report published by TMR, a valuation of US$ 176.3 billion is anticipated for the market in 2031. As of 2023, the market for detergent is expected to close at US$ 131.3 billion.
With a rapidly growing urban population demands for cleaning and hygiene products, including detergents, especially in densely populated urban areas have increased, which boosts the market demand.
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Competitive landscape
The global detergents market is highly consolidated, with a small number of large-scale vendors controlling the majority of the market share. The majority of companies are investing significantly in comprehensive research and development activities, primarily to create environmentally friendly products.
- Huntsman Corporation LLC
- Solvay
- Evonik Industries AG
- BASF SE
- Kao Corporation
- Clariant AG
- Croda International Plc
- Tata Chemicals Ltd.
- Stepan Company
- Oxiteno
- Galaxy Surfactants Ltd.
- Lion Specialty Chemicals Co., Ltd.
- Henkel AG & Co. KGaA
- A K ChemTech Co. Ltd
- LANXESS
- Diversey, Inc.
- CID LINES N.V.
- Holchem Group Ltd.
- Christeyns NV
- Ecolab
- Kersia Group
- Virox Technologies Inc.
- DeLava
- Neogen Corporation
- Theseo Group
Key Development in the Detergent Market
- Kao Corporation has developed numerous detergent bases and has continued to meet consumer needs by creating systems designed to clean the articles of interest more effectively under the conditions in which they are used. Kao has now developed Bio IOS, which is poised to completely transform the concept of conventional detergent bases.
- In March 2020 - Stepan Company acquired Logos Technologies LLC’s NatSurFact® business, a rhamnolipid-based line of bio-surfactants derived from renewable sources. NatSurFact’s rhamnolipid technology provides an important new option as customers across markets seek new sustainability targets for their products.
- Galaxy Surfactants offers its GalEcoSafe range of surfactants for eco-safe products.
The increasing consumer awareness of cleanliness, hygiene, and the importance of maintaining a germ-free environment, growing penetration of washing machines, and rise in adoption of premium FMCG products are expected to drive the demand for detergents.
The increasing applications of detergents such as animal hygiene are getting popular due to the increase in focus on animal health care, providing an opportunity for market expansion
The increasing hygienic practices in manufacturing, healthcare, and hospitality sectors drive the demand for industrial-grade cleaning detergents. Increasing disposable incomes, and changing standard of living enable consumers to afford a wider range of household cleaning products, including specialized detergents.
Key Takeaways from the Market Study
- As of 2022, the detergent market was valued at US$ 125.8 billion
- Based on product, anionic detergent segment to enjoy high demand, accumulating a high revenue share during the forecast period.
- Based on form, the powdered segment is anticipated to dominate the industry during the forecast period
- Based on application, the detergent powders segment is expected to generate high revenue during the forecast period.
Detergent Market: Key Trends and Opportunistic Frontiers
- Urban living often means smaller living spaces, leading to greater emphasis on efficient cleaning solutions like compact laundry detergents and concentrated formulas.
- Growing concern about environmental issues has led to increased demand for eco-friendly and biodegradable detergent options, driving innovation in the market.
- The rise of e-commerce and online shopping platforms has made detergents more accessible to consumers, particularly those who prefer the convenience of online purchasing.
- Manufacturers are engaged in manufacturing sustainable cleaning products and zero-waste laundry detergents, owing to the increased demand for eco-friendly detergents
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Detergent Market – Regional Analysis
- North America had a mature detergent market with a focus on eco-friendly and high-performance products. Consumers in this region were increasingly interested in products that are effective in cold water washing, as well as those that are free from harsh chemicals. Environmentally friendly and sustainable detergents gained popularity, driven by consumer awareness about environmental impact.
- The Asia-Pacific region represented a significant growth opportunity for the detergent market. The growing urbanization and increasing disposable incomes are driving the demand for laundry detergents and cleaning products in the region. Developing countries in this region were transitioning from traditional washing methods to machine washing, leading to increased demand for machine-specific detergents.
Detergent Market – Key Segments
Product
- Cationic Detergents
- Anionic Detergents
- Zwitterionic (Ampholytic) Detergents
- Non-ionic Detergents
- Bio-based Cleaners
Form
- Liquids / Gels
- Powders
- Tablets / Bars
Application
- Food & Beverage Processing
- Dairy Processing
- Meat Processing
- Beverage Processing
- Animal Hygiene
- Poultry
- Dairy Animals
- Pigs
- Pets
- Others (including Equine and Aqua)
- Laundry Care
- Detergent Powders
- Detergent Cakes/Bars
- Laundry Liquids
- Fabric Softeners
- Monodose Packs
- Stain & Odor Eliminators
- Household Cleaning
- Floor Cleaners
- Glass Cleaners
- Ceramic Cleaners
- Wood Cleaners
- Dishwashers
- Personal Care
- Hair Care
- Skin Care
- Others
- Fuel Additives
- Others (including Biological Reagents and Laboratory Use)
Region
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East & Africa
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