Dublin, Sept. 18, 2024 (GLOBE NEWSWIRE) -- The "India Home & Laundry Care Market 2024: Market Size, Trends, Opportunities and Forecast 2020-2030" report has been added to ResearchAndMarkets.com's offering.
This report highlights different factors and opportunities prevailing in India's Home & Laundry Care Market. According to the report, the Indian Home & Laundry Care Market valued at USD 8.1 billion in 2023 is expected to grow at a CAGR of 6.2% during 2025-2030.
The home and laundry care market in India is a dynamic and rapidly evolving sector, characterized by significant growth potential driven by various socio-economic factors. The market encompasses a broad range of products, including laundry detergents, fabric softeners, dishwashing products, surface cleaners, and air care products. Over the past decade, this sector has seen substantial growth due to rising disposable incomes, increasing urbanization, and changing consumer lifestyles.
One of the primary drivers of the home and laundry care market in India is the country's expanding middle class, which has been steadily increasing in both size and purchasing power. As more households move into higher income brackets, there is a greater demand for quality home care products that promise convenience, efficiency, and superior performance. This shift is particularly evident in urban areas, where busy lifestyles and the need for time-saving solutions have led to increased adoption of premium and specialized products such as liquid detergents and fabric softeners. These products, although more expensive than traditional powders, offer ease of use and better results, thus appealing to the growing segment of urban, time-constrained consumers.
Another significant factor contributing to market growth is the penetration of modern retail formats and e-commerce. Traditional small local grocers continue to dominate distribution in many parts of the country, especially in rural and semi-urban areas. However, the rise of supermarkets, hypermarkets, and online retail platforms has revolutionized the way home and laundry care products are marketed and sold. Modern retail outlets provide a wider range of products and brands, enabling consumers to make more informed choices. E-commerce platforms, on the other hand, offer the convenience of home delivery and attractive discounts, which have been particularly appealing during the COVID-19 pandemic when consumers were more inclined to shop online to avoid physical stores. This shift towards online shopping is expected to persist, driving further growth in the market.
Product innovation and differentiation are also key trends shaping the home and laundry care market in India. Companies are continually introducing new products with enhanced features to cater to the evolving needs of consumers. For instance, the growing awareness about hygiene and cleanliness has led to increased demand for disinfectant and antibacterial cleaning products. Brands are responding by launching products that not only clean but also disinfect surfaces, thereby addressing consumer concerns about germs and viruses. Similarly, there is a rising preference for eco-friendly and sustainable products. Consumers are becoming more environmentally conscious and are seeking products that are free from harmful chemicals, use natural ingredients, and come in biodegradable or recyclable packaging. This trend has given rise to a niche but rapidly growing segment of green home care products.
The rural market, which constitutes a significant portion of India's population, presents immense growth opportunities for the home and laundry care sector. Despite the challenges of lower disposable incomes and limited access to modern retail, rural areas are witnessing a gradual shift in consumption patterns. Increased government initiatives for rural development, improved infrastructure, and better connectivity are facilitating greater access to branded products. Companies are strategically expanding their distribution networks and tailoring their product offerings to meet the specific needs and price sensitivities of rural consumers. Smaller pack sizes, affordable pricing, and localized marketing campaigns are some of the strategies being employed to penetrate this market.
By Product, Dishwashing detergents account for approximately 39% market share in 2023
One of the primary drivers of growth in the dishwashing detergent segment is the rising awareness of hygiene and cleanliness among Indian consumers. This shift is largely attributed to the increased penetration of media and the efforts of both the government and private sector in promoting the importance of sanitary practices. Urbanization is another crucial factor contributing to the expansion of the dishwashing detergent market in India. As more people migrate to urban areas in search of better employment opportunities and living standards, the adoption of modern lifestyles and household practices has increased. Urban households are more likely to use liquid dishwashing detergents and dishwasher machines, which are perceived as more convenient and efficient compared to traditional bar soaps and powders.
Market Segmentation
By Product Type:
- Polishes, Room Scents and Insecticides
- Laundry Care
- Household Cleaners
- Dishwashing Detergents
- Other Product Types
By Form:
- Liquid
- Powder
- Cake/Block
- Other Forms
By Sales Channel:
- Online
- Offline
By Geography:
- South (Tamil Nadu, Karnataka, Andhra Pradesh, Telangana, Rest of South)
- North (Chandigarh, Haryana, Uttar Pradesh, Punjab, Delhi, Himachal Pradesh, Uttarakhand, Rest of North)
- West and Central (Maharashtra, Gujarat, Rajasthan, Madhya Pradesh, Chhattisgarh, Goa, Rest of West and Central)
- East (Bihar, West Bengal, Odisha, Rest of East)
Key Companies
The report assesses the competitive developments, strategies, mergers and acquisitions and new product development and market share portfolio of top 15 companies. Key companies in the India Home & Laundry Care Market include:
- Reckitt Benckiser
- Hindustan Unilever Limited
- ITC
- Proctor and Gamble India
- Marico
- Dabur
- Godrej Consumer Products Limited
- SC Johnson
- Nirma Limited
- Jyothy Laboratories
- Other Leading Companies
For more information about this report visit https://www.researchandmarkets.com/r/f1q80u
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