Global Household Cleaners Market: Growing Commercial Use of Household Cleaners to be Key Factor Supporting finds TMR
Manufacturers of household cleaners are active in the development of new products which is a part of their business strategy in order to satisfy the varying needs of customers, says Transparency Market Research (TMR) in a research report. For instance, in 2014, Kao Corporation launched a new powder detergent for hand washing laundry. The product was named Attack Jaz 1 and it was launched for the consumers in Indonesia. This product launch helped Kao Corporation gain a much wider consumer base. Further to establish a firm position in the market, leading market players are also developing their business through acquisitions. One such important acquisition occurred when C Johnson & Son acquired Angelic Air Care, ACI Insecticides, and Vanish. In 2015, the share of the leading companies, namely S.C. Johnson & Son Inc., Reckitt Benckiser Group Plc., Procter & Gamble Co., Unilever Plc., and Henkel Corporation collectively accounted for a share of 64.4% approximately.
According to a TMR analyst, “The global household cleaners market is expected to exhibit a 4.1% CAGR between 2016 and 2024. The market rose to a valuation of US$39,400.9 mn from a worth of US$27,468.6 mn in 2015.”
Specialty Cleaners to Rake Leading Share
The global household cleaners market was dominated by the specialty cleaners segment with a share of 59.1% in 2015 and is likely to retain a leading position till the end of the forecast period. The adoption of western lifestyles in Asia Pacific and Latin America has been one of the key growth drivers for specialty cleaners. The development of innovative products along with the rising popularity of green products is likely to push the market share of specialty cleaners globally. The different products under specialty cleaners include fabric cleaners, carpet cleaners, toilet cleaners, spot removers, furniture cleaners, and over cleaners among others. Surface cleaners held the second spot in the global household cleaners market in 2015. The growing awareness among consumers regarding infectious diseases and rising adoption of healthy lifestyle has surged the use of surface cleaners. Furthermore, the mounting use of surface cleaners in commercial sector such as in schools and hotels among others is expected to benefit the market for this in the coming years.
Region-wise, the global market for household cleaners is segmented into Asia Pacific, North America, Europe, Latin America, and the Middle East and Africa. Out of these Asia Pacific is expected to be the region with witnessing exponential growth. North America held the leading share of 31.6% in the market in 2015. Although the share of North America is expected to decrease by 2024, it is expected to retain a lead by the end of the forecast period.
Burgeoning Urbanization in Asia Pacific to Bode Well for Market
Asia Pacific emerged dominant in terms of growth rate in the global household cleaners market owing to the rising population in the region along with the high rate of urbanization. With India, China, and Indonesia accounting for over 40% of the world population in 2015, Asia Pacific is expected to provide manufacturers with opportunities to explore in many untapped markets in the region. The changing lifestyle of consumers from rural to urban settlements has led to a significant change in the preferences of consumers and has increased focus on sanitization standards, thus benefitting the market in return. However, rising competition from local manufacturers in Asia Pacific may hamper the market growth.
This review is based on a Transparency Market Research report titled, “Household Cleaners Market (Product - Surface Cleaners, Specialty Cleaners, and Bleaches; Application - Bathroom Cleaners, Kitchen cleaners, Floor cleaners, and Fabric care) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016 - 2024.”
For the study, the market has been segmented as follows:
Global Household Cleaners Market: By Product Type
- Surface Cleaners
- Specialty Cleaners
Global Household Cleaners Market: By Application Type
- Bathroom cleaners
- Kitchen cleaners
- Floor cleaners
- Fabric care
Global Household Cleaners Market: By Geography
- North America
- Rest of North America
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Middle East and Africa
- South Africa
- Rest of Middle East and Africa
- Latin America
- Rest of Latin America
Transparency Market Research (TMR) is a market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants, use proprietary data sources and various tools and techniques to gather, and analyze information. Our business offerings represent the latest and the most reliable information indispensable for businesses to sustain a competitive edge.
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