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Snow showers around this evening. Clearing skies later. Low 26F. Winds NNW at 10 to 15 mph. Chance of snow 60%.
Technavio has announced its latest market research report titled Detergent Market by End-user, Type, and Geography - Forecast and Analysis 2021-2025
Technavio has announced its latest market research report titled Detergent Market by End-user, Type, and Geography - Forecast and Analysis 2021-2025
NEW YORK , March 9, 2022 /PRNewswire/ -- The "Detergent market segmentation by end-user (household and commercial and industrial), type (powder and liquid), and geography (APAC, North America , Europe , South America , and MEA)". The report has been added to Technavio's offering. With ISO 9001:2015 certification, Technavio is proudly partnering with more than 100 Fortune 500 companies for over 16 years. The potential growth difference for the detergent market between 2020 and 2025 is USD 24.57 billion. The report also identifies the market to witness an accelerating growth momentum at a CAGR of 5.03% during the forecast period.
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The detergent market report is segmented by End-user (Household and Commercial and industrial), Type (Powder and Liquid), and Geography (APAC, North America , Europe , South America , and MEA). The household end-user segment held the largest detergent market share in 2020 and will continue to account for the largest share by 2025. The growth of this segment can be attributed to the increasing use of detergent by the household sector for washing clothes at home.
By type, the detergent powers segment was the largest revenue-generating segment of the market. The main advantage of detergent powders is that they are easy to use and remove dust, dirt, grease, oil, and other environmental pollutants with ease and effectiveness. The growth of the global organic laundry detergents market for powder detergents is being driven by the rising demand for products from China , India , and Brazil.
APAC will be the leading region with 53% of the market's growth during the forecast period. China and India are the key markets for detergent in APAC. Market growth in APAC will be faster than the growth of the market in other regions. The significant increase in demand for detergents due to the adoption of washing machines in households and commercial establishments such as hotels and resorts will facilitate the detergent market growth in APAC over the forecast period.
Developed countries like Japan and developing countries such as India and China are witnessing high sales of liquid detergents. In addition, the predominant usage of powder detergents in most of the emerging economies in the region will further fuel the global organic laundry detergents market's growth during the forecast period.
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The detergent market is fragmented and the vendors are deploying various organic and inorganic growth strategies to compete in the market. Companies are engaging in the launch of innovative products and strengthening their leadership with mergers and acquisitions of other regional players. For instance, Henkel AG and Co. KGaA signed a material development agreement with Nexa3D for next-generation functional polymer in November 2021 . The company also launched SLA 3D printing resin for its open materials platform around the same time in the last year.
Some Dominant Companies Covered in this Report are:-
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Accelerate at a CAGR of 5.03%
APAC, North America, Europe, South America, and MEA
China, US, India, Canada, and UK
Leading companies, competitive strategies, consumer engagement scope
Church and Dwight Co. Inc., Colgate-Palmolive Co., Ecolab Inc., Henkel AG and Co. KGaA, Kao Corp., Lion Corp., McBride Plc, Reckitt Benckiser Group Plc, The Procter and Gamble Co., and Unilever Group
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and future consumer dynamics, market condition analysis for the forecast period.
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Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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