The laundry detergent industry is an ever-evolving one, with new products popping up every day. But what do the statistics say about this industry? Here’s a look at some of the latest laundry detergent industry statistics.
According to data from Statista, the global market for laundry detergents was valued at around $41 billion in 2020 and is expected to grow at a compound annual growth rate (CAGR) of 5.9% over the forecast period 2021-2026 to reach $54.2 billion by 2026. This growth can be attributed to increased demand from emerging markets, improved product innovations and increased consumer spending power in developing countries.
In terms of geographical segmentation, Asia Pacific holds the largest share in terms of market value for laundry detergents, accounting for more than half (54%) of global sales as of 2019. This is followed by Europe (21%), North America (13%), Latin America (7%) and Middle East & Africa (5%).
When it comes to product type, liquid laundry detergents are leading the way with a large share in total sales globally due to their convenience and cost efficiency compared with powder or tablet varieties. Other popular products include powder, tablets/pacs and enhanced products such as fabric softeners or stain removers which offer additional benefits besides cleaning ability as well as convenience benefits such as single dosing formats like pods or pouches which are becoming increasingly popular among consumers today.
In terms of distribution channels, supermarkets continue to lead with more than 40% share while online retailing is experiencing rapid growth thanks to its convenience factor although it still holds less than 10% share globally out of total sales volume in 2019 according to Statista’s research data on Laundry Detergent Market size & trends analysis report 2020-2025.
Overall it’s clear that demand for these products will continue growing both domestically and internationally over time due its increasing penetration into untapped markets across different regions coupled with introduction of new innovative products catering different needs & requirements which makes this an attractive sector for investors looking for long term investments opportunities!