Industrial Laundry Detergent Market Size to Reach Revenues of USD 89.33 Billion by 2026 - Arizton
CHICAGO, July 7, 2021 /PRNewswire/ -- In-depth analysis and data-driven insights on the impact of COVID-19 included in this global industrial laundry detergent market report.
The industrial laundry detergent market is expected to grow at a CAGR of over 7.39% during the period 2020−2026.
Key Highlights Offered in the Report:
- APAC & Latin America are home to several developing industries and emerging economies. The growing demand for food products, vehicles, and hospital beds is expected to have a corresponding impact on the demand for industrial laundry detergents in these regions. Additionally, the increasing frequency of travel and tourism activities in these regions is contributing to the market's growth.
- The high penetration of food and beverages, chemical, and automotive industries, and the significant increase in awareness of hygienic practices in the health industry are driving the use of industrial laundry detergents.
- Manufacturing industries and hospitals are expected to witness the highest growth at a CAGR of over 9% and 7%, respectively.
- The liquid laundry detergent and fabric care segments are expected to grow at a CAGR of 7% and 8%, respectively. Although the fabric care segment accounts for a meager share in the market, the rising awareness among end-use industries will create long-term demand for fabric care products.
- One of the key growth restraints in the global industrial laundry detergent market is the volatility in the oil & gas industry. The uncertainty in the market is affecting raw material prices in many countries. Also, the COVID-19 outbreak and associated lockdown restrictions have adversely affected the unorganized industrial sectors in developing economies.
- The advent of the online platform has created a tremendous opportunity for numerous vendors to step up and pitch their offerings worldwide without being restrained by physical boundaries.
- Emerging economies such as Brazil, India, and China, are witnessing an increase in the demand for liquid laundry detergents due to rising awareness of cleanliness and hygiene and improving economic conditions.
Key Offerings:
- Market Size & Forecast by Revenue | 2020−2026
- Market Dynamics – Leading trends, growth drivers, restraints, and investment opportunities
- Market Segmentation – A detailed analysis by product, application, distribution channel, and geography
- Competitive Landscape – 14 vendors are profiled
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Industrial Laundry Detergent Market – Segmentation
- North American and European regions are dominating the industrial liquid laundry detergent market. With the improvement of the industrial and commercial sectors in emerging countries, liquid laundry detergents will likely expand at a CAGR of over 7% by 2026. In the coming years, concentrated liquid laundry detergents demand is expected to increase globally.
- The rise of healthcare spending is expected to increase the number of hospitals, which will boost the demand for industrial laundry detergent. The hospital relies heavily on a dependable laundry service. In addition, the rising health awareness among people, growing HAIs, and the significant surge in COVID-19 cases in some parts of the world are expected to accelerate the demand for laundry detergent globally.
- The key players in the US and the UK primarily sell their finished products either in B2B or brick and mortar stores, directly through distributors, through their websites, or through other online channels to smoothen the distribution channels. The distribution through retail stores is substantially generating revenue opportunities for various vendors across the market.
Industrial Laundry Detergent Market by Product
- Powder
- Liquid
- Fabric Softener
- Others
Industrial Laundry Detergent Market by Application
- Hospitality
- Hospitals
- Manufacturing Industries
- Other Applications
Industrial Laundry Detergent Market by Distribution Channel
- Offline
- Online
Industrial Laundry Detergent Market – Dynamics
On a broader level, industrial laundry detergents can be categorized under powder laundry detergents and liquid laundry detergents. Although the powder laundry detergent segment dominates the market, the liquid laundry detergent segment has also gained a significant share in recent times. Liquid industrial laundry detergents can be manufactured using less energy-intensive processes. The growing preference for liquid industrial laundry detergent variants is attributable to their compact nature and sustainability savings. The gradual shift in consumer demand from powder laundry detergents to liquid laundry detergents is also due to the convenience associated with liquid formats and fewer instances of after-wash issues. The liquid laundry detergent segment has immense potential for future growth. Several developed regions such as Europe and North America are witnessing a higher penetration of liquid laundry detergents. However, the demand for liquid laundry detergents is expected to grow significantly in developing regions such as APAC and Latin America. Also, China's liquid laundry detergent market has tremendous potential for future growth as the penetration of the liquid laundry detergent segment in the country is expected to exceed 58% by 2024.
Key Drivers and Trends fueling Market Growth:
- Impact of Transition to Natural & Sustainable Products
- Impact of Increasing Penetration of Internet
- Impact of Long-Term Growth in Travel & Tourism Industry
Industrial Laundry Detergent Market – Geography
In 2020, APAC emerged as the most dominant geographical segment in the industrial laundry detergent market and accounted for a revenue share of 31.27%. Factors such as rapidly expanding population, massive penetration of the commercial and industrial sectors, and rising awareness of hygiene have accelerated the demand for industrial laundry detergents in the region. Additionally, deep penetration of distribution channels such as supermarkets and hypermarkets and easy access to the Internet and online shopping have contributed to the growth of the regional market. Countries such as China, India, and Japan are the largest contributors to the regional market. South Korea is another major market for industrial laundry detergents in APAC.
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Industrial Laundry Detergent Market by Geography
- APAC
- China
- India
- Japan
- South Korea
- Rest Of APAC
- Europe
- UK
- Germany
- France
- Spain
- Italy
- North America
- US
- Canada
- Middle East & Africa
- Saudi Arabia
- UAE
- South Africa
- Turkey
- Latin America
- Mexico
- Brazil
- Rest Of Latin America
Major Vendors
- Accurate Chemical Acquisitions
- AGAR
- Ashland
- BASF
- Croda International
- Deluxe Chemicals
- DeVere Company
- JLA
- Kao Corporation
- Procter & Gamble
- Solvay
- Stepan Company
- The Clorox Company
- Unilever
Explore our chemicals & materials profile to know more about the industry.
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About Arizton:
Arizton Advisory and Intelligence is an innovation and quality-driven firm, which offers cutting-edge research solutions to clients across the world. We excel in providing comprehensive market intelligence reports and advisory and consulting services.
We offer comprehensive market research reports on industries such as consumer goods & retail technology, automotive and mobility, smart tech, healthcare, and life sciences, industrial machinery, chemicals and materials, IT and media, logistics and packaging. These reports contain detailed industry analysis, market size, share, growth drivers, and trend forecasts.
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