Global Detergents Market Forecast: Growth from US$ 120.7 Billion to US$ 176.3 Billion by 2031 - TMR Study

Global Detergents Market to Reach US$ 176.3 Bn by 2031, Expanding at a 4.3% CAGR from US$ 120.7 Bn in 2021

WILMINGTON, DE, UNITED STATES, December 20, 2024 /EINPresswire.com/ -- The global detergents market, valued at USD 120.7 billion in 2021, is poised for significant growth. By 2031, the market is expected to reach USD 176.3 billion, expanding at a compound annual growth rate (CAGR) of 4.3% from 2022 to 2031. This growth trajectory reflects the increasing demand for detergents across diverse applications such as laundry care, household cleaning, and personal care products.

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Analysts’ Perspective on Market Scenario

The detergents market, moderately consolidated with major players accounting for 40% to 45% of the total market share, has witnessed a recovery post-COVID-19. Companies are focusing on high-growth applications like laundry care and household cleaning. Innovations such as ultra-concentrated pump detergents and single-dose formats are improving convenience for end-users. However, environmental concerns linked to chemicals in detergents are prompting a shift towards enzyme-based, eco-friendly products. The anticipated rise in demand from industries such as food & beverage processing and animal hygiene further underscores the market’s robust growth potential during the forecast period.

Key Growth Drivers

1. Rise in Hygiene Awareness

The prevalence of infectious diseases like COVID-19 has heightened awareness of cleanliness and hygiene. Increased demand for household cleaning products, hand sanitizers, and laundry detergents has driven market growth. Hygiene awareness campaigns in developing countries and innovations in cleaning products are amplifying this trend.

2. Focus on Eco-friendly Products

The market is witnessing a growing preference for sustainable cleaning products. Manufacturers are producing detergents free of harmful chemicals such as phosphates and petroleum-based ingredients. Sodium Dodecyl Sulfate (SDS), a plant-based anionic surfactant, is gaining traction for its eco-friendly attributes. Additionally, recyclable packaging solutions are contributing to reducing plastic waste.

3. Increased Use in Laundry Care Applications

The surge in washing machine penetration in developing countries is driving demand for laundry care products. Liquid detergents, which improve cleaning efficacy and reduce water waste, are gaining popularity. The growth of the middle-class population and rising disposable incomes in regions like South Asia and ASEAN are further propelling this segment.

Challenges in the Market

Despite its growth, the detergents market faces significant challenges:

• High Cost of Raw Materials: Rising raw material costs are increasing production expenses, affecting profit margins.
• Environmental Regulations: Stricter environmental norms on harmful chemicals, such as perchloroethylene used in dry cleaning detergents, are impacting product formulations and market growth.

To address these issues, companies are investing in R&D to develop cost-effective and innovative solutions, including affordable powder detergents that cater to price-sensitive consumers.

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Technological Advancements in Detergent Formulations

1. Enzyme-based Detergents:

o Enzymes like hydrolases enhance cleaning by targeting stubborn stains. However, ensuring enzyme stability under harsh conditions is an area of ongoing research.

2. Polymer Use in Detergents:

o Polymers such as polycarboxylates and polyvinyl pyrrolidone are being used to reduce water surface tension, improving the washing process.

3. Innovative Formats:

o Single-dose packs and concentrated formulations offer convenience and reduce waste, catering to eco-conscious consumers.
Market Segmentation

1. By Product Type:

• Anionic Detergents: Dominating with a 50.3% market share in 2021, anionic detergents such as sodium lauryl sulfate (SLS) are widely used for their cleaning efficiency.
• Bio-based Cleaners: Gaining popularity for their environmental benefits, bio-based detergents are free from artificial dyes and fragrances.

2. By Form:

• Powders: Holding 43.8% of the market share in 2021, powder detergents are favored for their affordability and effectiveness.
• Liquids/Gels: Increasingly preferred for their ease of use and compatibility with modern washing machines.

3. By Application:

• Laundry Care: Accounting for over 50% of the market revenue in 2021, driven by rising hygiene awareness and advancements in washing technology.
• Household Cleaning: Floor and dishwashing products are witnessing increased demand due to heightened focus on cleanliness.
• Personal Care: Surfactants in skincare, hair care, and hand wash products are augmenting demand, especially in developing regions.

4. By Geography:

• Asia Pacific: Leading with over 35% of the market share in 2021, driven by population growth and rising middle-class incomes.
• North America and Europe: High adoption of advanced products like liquid detergents and eco-friendly solutions.
• Latin America and Middle East & Africa: Emerging as key markets with rapid urbanization and improving lifestyles.

Competitive Landscape

The global detergents market is highly competitive, with key players focusing on expanding their product portfolios and adopting sustainable practices. Major companies include:

• Huntsman International LLC
• Solvay
• Evonik Industries AG
• BASF SE
• Kao Corporation

Recent Developments:

• Oxiteno: Launched Oxizymes, enzyme-based detergent formulations, targeting cost-conscious consumers in North America.
• Kao Corporation: Introduced ‘Attack Zero,’ a liquid laundry detergent, leveraging concentrated formulations for efficiency.
• BASF SE: Expanded its EcoBalanced portfolio to offer environmentally friendly solutions without compromising performance.

Future Trends

1. Eco-conscious Consumerism: Growing demand for biodegradable and phosphate-free detergents will shape future market dynamics.
2. Technological Innovations: Development of enzymes that maintain efficacy under extreme conditions will open new avenues.
3. Regional Growth: Rapid industrialization and urbanization in Asia Pacific and Africa are expected to drive regional market growth.
4. Online Distribution Channels: E-commerce platforms will play a crucial role in reaching a broader consumer base, especially in developing countries.

Conclusion

The global detergents market is on a steady growth trajectory, driven by increased hygiene awareness, advancements in formulations, and a shift towards eco-friendly products. While challenges such as high raw material costs and environmental regulations persist, ongoing R&D efforts and strategic initiatives by market players are expected to mitigate these issues. The growing demand for innovative and sustainable cleaning solutions positions the detergents market as a vital component of the global consumer goods industry.

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