According to a new report, published by KBV research, The Global Liquid Detergent Market size is expected to reach $50.9 billion by 2030, rising at a market growth of 5.7% CAGR during the forecast period. In the year 2022, the market attained a volume of 5,854.4 Kilo Tonnes experiencing a growth of 7.4% (2019-2022).
The market refers to the segment of the cleaning products industry that encompasses the manufacturing, distribution, and sale of liquid-based detergents primarily used for laundry and household cleaning purposes. Liquid detergents are formulated with surfactants, enzymes, and other active ingredients to remove dirt, stains, and odors from fabrics and surfaces. The market includes a wide range of liquid detergent products designed for different applications, fabric types, and washing machines, catering to diverse consumer preferences and needs.
The Conventional segment generated the highest revenue in the Global Liquid Detergent Market, By Nature in 2022; thereby, achieving a market value of $40.6 billion by 2030. Conventional liquid detergents often offer a cost-effective cleaning solution compared to their organic or specialty counterparts. For budget-conscious consumers, affordability remains a primary consideration when purchasing household cleaning products, driving the demand for conventional options. Furthermore, many consumers are familiar with conventional liquid detergent brands, fostering a sense of trust and brand loyalty. Hence, the segment will grow rapidly in the coming years.
The Laundry segment is registering a CAGR of 5.4 % during the forecast period. Laundry care is an essential household chore performed regularly by consumers worldwide. Liquid detergents are the preferred choice for laundry care due to their convenience, effectiveness, and ease of use in both handwashing and machine-washing applications. Laundry is the main function of the liquid detergent. Therefore, these factors will boost the demand in the segment.
The Residential segment led the Global Liquid Detergent Market, By End-use in 2022; thereby, achieving a market value of $32.3 billion by 2030. Liquid detergents offer ease of use compared to powdered or bar detergents. They come in convenient packaging with easy-to-use dispensers, allowing consumers to accurately measure the appropriate amount for each use. Liquid detergents are formulated with powerful surfactants and cleaning agents that effectively remove dirt, stains, and odors from various surfaces and fabrics. Their liquid form allows for better dispersion and penetration, resulting in thorough cleaning and superior stain removal. Therefore, these aspects will pose lucrative growth prospects for the segment.
The Supermarket & Hypermarket segment is growing at a CAGR of 5.1 % during the forecast period. Supermarkets and hypermarkets offer liquid detergents from various brands, formulations, and packaging sizes. Consumers can choose from an extensive selection of products based on their preferences, needs, and budget, enhancing their shopping experience and convenience. Therefore, the wide range of products offered by supermarkets and hypermarkets is driving the growth of the segment.
Full Report: https://www.kbvresearch.com/liquid-detergent-market/
The North America region dominated the Global Liquid Detergent Market, By Region in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $18 billion by 2030. The Europe region is anticipated to grow at a CAGR of 5.3% during (2023 - 2030). Additionally, The Asia Pacific region would witness a CAGR of 6.3% during (2023 - 2030).
By Nature (Volume, Kilo Tonnes, USD Billion, 2019-2030)
By Application (Volume, Kilo Tonnes, USD Billion, 2019-2030)
By End-use (Volume, Kilo Tonnes, USD Billion, 2019-2030)
By Sales Channel (Volume, Kilo Tonnes, USD Billion, 2019-2030)
By Geography (Volume, Kilo Tonnes, USD Billion, 2019-2030)
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