Market Trends of Liquid Detergent Industry
This section covers the major market trends shaping the Liquid Detergent Market according to our research experts:
Increased Dependency on Washing Machines
With increasing urbanization, consumers are elevating their lifestyles to experience comfort in their household chores. As a result, the sales of washing machines have been rising among the population because these electronic products provide consumers with a comfortable wash of clothes. For instance, according to the data estimated by the National Bureau of Statistics of China, the number of washing machines per 100 households has been estimated as 96.7 in 2020, a rise when compared with the scenario of 2015 (86.4 per 100 households). Furthermore, the rising utilization of electronic washing utilities among consumers has escalated the growth of liquid detergent, as it is configured with the functionalities of washing machines and easily dissolves in cold and hot water. In addition, the demand for fully automated washing machines is rising among global consumers due to the ease of operation and less human interference. Liquid detergents are suitable for fully automated washing machines owing to their smoothness and ability to work well on colored loads. The growing adoption of fully automated washing machines is positively impacting the sales of liquid detergents. On the other hand, the growing number of laundry startups worldwide is further increasing the growth of the liquid detergent market.
Asia-Pacific is the Fastest Growing Region
The Asia-Pacific region is expected to witness strong market growth over the forecast period owing to the rise in per capita income associated with urban lifestyle. Moreover, the increasing penetration of washing machines with easy access to detergent products through retail channels is also a factor driving the growth of the market studied. The Asian population widely used powdered detergent for washing purposes. However, in recent years, consumers are largely opting for liquid detergents owing to the increasing awareness about the benefits of the products in terms of less foaming and easy dissolving property. Consequently, the growing adoption of online shopping among the Asian population is further driving the sales of liquid detergent in the online retail channel. This, in turn, encourages manufacturers to introduce their brands in online retail stores. For instance, in August 2021, Godrej Consumer Products Limited (GCPL) launched its digital-first brand Genteel in the detergents categories in India. According to the company's statement, detergent products can be purchased only through e-commerce platforms.
