New York, United States , March 01, 2023 (GLOBE NEWSWIRE) -- The Global Household Cleaning Products Market Size to grow from USD 100.50billion in 2021 to USD 177.13billion by 2030, at a Compound Annual Growth Rate (CAGR) of 6.5%during the forecast period. One of the key drivers of Household Cleaning Products market expansion is due to an increased attention on cleanliness and maintaining a hygienic atmosphere among people as well as an increase in the COVID-19 pandemic's prevalence. Furthermore, it is anticipated that leading market participants would find the opportunities presented by the rising demand for environmentally friendly home cleaning products to be appealing. According to projections, an ageing population, expanding urbanisation, and rising income levels will drive Household Cleaning Products market demand.
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Rising awareness among people regarding keeping the household clean has become one of the primary driving factors for the household cleaner market growth. Additionally, the easy availability of household cleaners coupled with several variations including different fragrances is also likely to boost the market advancement. Consumers are increasingly shifting towards natural or "green" household cleaners, as they provide a sense of sustainability and do not contain hazardous chemicals. This lowers the risks to one's health. Many companies are launching home cleaning products that are eco-friendly.
The report offers a comprehensive perspective of the market size, share, revenue, and volume. It has deep-dived into SWOT analysis. Quantitative and qualitative assessments have provided a holistic view of the market. The primary interviews validate assumptions, findings, and the prevailing business scenarios. The report also includes secondary resources such as annual reports, press releases, white papers, and journals.
COVID-19 IMPACT ANALYSIS
The COVID-19 pandemic has made an adverse impact on credit portfolios. There has been an unprecedented rise in unemployment and disruption in economic activity, putting a strain on the solvency of customers and companies. Central banks have taken a proactive approach by injecting liquidity into the market by lowering interest rates and asset purchase programs. Managing and monitoring credit, market, liquidity, and operational risk across financial markets were hard enough with ongoing geopolitical tensions, international trade wars, and the occasional hurricanes and earthquakes. The current pandemic situation has forced chief risk officers and their teams to recalibrate old assumptions and models used to manage and monitor risk. COVID-19’s global impact has shown that interconnectedness plays an important role in international cooperation. As a result, many governments started rushing toward identifying, evaluating, and procuring reliable solutions powered by AI.
Browse 51 market data Tables and 61 Figures spread through 279 Pages and in-depth TOC on "Global Household Cleaning Products Market Size, Share, and COVID-19 Impact Analysis By Product (Dishwashing products, Surface cleaners, Textured wheat protein, Glass cleaners, Laundry detergents and Others), By Distribution channel (Convenience stores, Online retail stores, Supermarkets/hypermarkets, and Other), and by Region (North America, Europe, Asia-Pacific, Latin America, Middle East and Africa), Analysis and Forecast 2021 – 2030." View a detailed Table of Content here.
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The Surface cleanerssegment to account for the largest market size during the forecast period.
Based on the Product, the global Household Cleaning Products Market is categorized into dishwashing products, Surface cleaners, Textured wheat protein, Glass cleaners, Laundry detergents and Others. The Surface cleaners segment to account for the largest market size during the forecast period. The Surface cleaners market category now has the largest market share and is anticipated to expand at a high CAGR over the anticipated years because Customers are increasingly reliant on surface cleaners to disinfect spaces around the home, which has had a substantial influence on the demand for surface cleaners because to the COVID-19 epidemic. The use of cleaning solutions and the sales of surface cleaners have surged at an unprecedented rate as a result of the growing COVID-19 pandemic danger. The need for surface cleaning solutions has increased due to greater awareness of personal hygiene and the risk of contagious illnesses. The segment's expansion will be driven by the widespread availability of surface cleaning products at convenience shops, supermarkets, and hypermarkets.
The Convenience stores segment to hold a higher CAGR during the forecast period.
Based on the Distribution channel, the Household Cleaning Products Market is categorized into Convenience stores, Supermarkets/hypermarkets, Online retail stores and Other. The Convenience stores segment to hold a higher CAGR during the forecast period. Throughout the forecast period, the Convenience stores segment is anticipated to maintain its leading position while expanding at the fastest CAGR. the merchants are focusing on developing joint marketing initiatives to advertise and promote the product to the target market. These tactics help manufacturers of household cleaning products draw in more customers, increase sales, and increase profitability. Due to advantages such as prompt product returns without delay, individualised product selection experiences, and individualised staff recommendations that will enhance the market share for convenience stores will experience increased sales.
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Asia-Pacific to hold a higher CAGR during the forecast period.
The Global Household Cleaning Products Market has been segmented into five major regions: North America, Europe, Asia-Pacific, South America, The Middle East and Africa. North America is estimated to account for the highest market share in 2022. The demand for Household Cleaning Products is being driven by the rising acceptance by the market. The market for Household Cleaning Products was dominated by the North America region. In recent years, the use of cleaning chemicals has dramatically expanded in North American nations, notably the U.S. The region's expanding middle class benefits the manufacturers and major players, particularly in the home cleaning goods industry. The expansion of the home cleaning products market in Italy is being driven by both the high standards of living of the consumers and the high employment rate. The development of high-quality goods, increased sanitary requirements, and new market entrants are all anticipated to fuel market expansion in the future.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.
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