Market Size of Detergents Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | > 4.00 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Asia Pacific |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Detergent Market Analysis
The detergents market is projected to register a CAGR of over 4% during the forecast period.
COVID-19 negatively impacted the market in 2020. It paused the production of laundry detergents and disrupted the supply chain. However, the consciousness regarding personal hygiene and clean surroundings increased in the current situation, stimulating the demand for laundry and household cleaning products and enhancing the market growth of detergents in 2021.
- Over the short term, increasing usage of detergents in the personal and laundry care segment is the major factor driving the market's growth.
- However, stringent environmental regulations are a key factor anticipated to restrain the growth of the target industry over the forecast period.
- Nevertheless, adopting organic laundry detergent and increasing the application of detergents as cloth softeners will likely create lucrative growth opportunities for the global market soon.
- The Asia-Pacific region is expected to dominate the market across the world, with the largest consumption from countries such as China and India.
