Global liquid detergent market to reach USD 35.5 billion by 2024: IMARC

According to a latest market research report by IMARC Group, the global market size of liquid detergent was USD 25.6 billion which is growing with a CAGR o f 5.6%.

The rising environmental concerns have prompted the liquid detergent manufacturers to introduce organic variants which do not contain harsh chemicals or raw materials such as chlorine, phosphates, petrochemicals, animal by-products, perfumes, gluten, dyes and allergens. These products are made from sustainable, plant-derived ingredients which also enhance their softening properties, lessen crumples and prevent fading of color. The maket size of liquid detergent was estimatd to be USD 25.6 billion in 2018 which is projected to reach a value of US$ 35.5 Billion by 2024, expanding at a CAGR of 5.6% during the forecast period (2019-2024).

These are the findings of IMARC Group's latest market research report, titled "USA Liquid Detergent Market: Share, Size, Growth, Opportunity and Forecast 2019-2024", finds that the global liquid detergent market reached a value of US$ 25.6 Billion in 2018. Liquid detergent refers to a cleaning agent that is used for washing clothes, automobiles and utensils as well as in laboratories for removing trace metal residues. Liquid detergents do not accumulate in fabrics, are pre-dissolved and have strong cleaning capability to pre-treat food, grease and oil stains. With growing concerns about hygiene and cleanliness, their demand is rising across the globe. Along with this, the increasing prominence of the e-commerce industry has escalated their sales, especially among the working consumers, due to their easy accessibility and convenience.

"Manufacturers are expanding their product lines by including a varied range of liquid detergents with different fragrances to reach a broader consumer base and increase profitability. Apart from this, they are also focusing on developing innovative packaging designs such as stand-up pouches with carry handle and integrated tap dispenser, and rigid bottles with measuring cap," concluded the report.

Liquid Detergent Market Summary

• Based on product types, the market has been segmented as organic and inorganic liquid detergents. Currently, inorganic liquid detergents dominate the market, holding the largest share.
• On the basis of end uses, the market has been segregated into the residential and commercial sectors. Liquid detergents are mostly used at homes to wash clothes and utensils while in the commercial sector they are utilized to clean cars, laboratory equipment, etc.
• The market has been classified based on distribution channels into supermarkets and hypermarkets, convenience stores, departmental stores, online, and others. Currently, supermarkets and hypermarkets represent the biggest distribution channel.
• Region-wise, North America enjoys the leading position, accounting for the majority of the market share. Other major regions include Asia Pacific, Europe, Middle East and Africa, and Latin America.
• The competitive landscape of the global liquid detergent market manufacturers has also been examined with some of the key players being Henkel, Procter & Gamble, The Clorox Company, Church & Dwight and Unilever.

(With inputs from IMARC Group)