Global Detergent Market 2019-2023 | Increasing Acceptance of Liquid Detergents to Boost Growth | Technavio
LONDON--(BUSINESS WIRE)--Jan 6, 2019--The global detergent market is expected to post a CAGR of close to 5% during the period 2019-2023, according to the latest market research report by .
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Technavio predicts the global detergent market to post a CAGR of close to 5% by 2023. (Photo: Business Wire)
A key factor driving the growth of the market is the growth in surfactants market. Surfactants help in reducing the surface tension of water and thereby increase the wetting and spreading dynamics of water. These compounds improve the cleaning performance by enabling quick and effective wetting of substrate surfaces such as clothes dishes and others. Moreover, the detergent segment accounted for the largest share in the global surfactants market in 2017. Thus, the growth in surfactants is expected to enhance the growth of the detergent market, during the forecast period.
This market research report on the also provides an analysis of the most important trends expected to impact the market outlook during the forecast period. Technavio classifies an emerging trend as a major factor that has the potential to significantly impact the market and contribute to its growth or decline.
In this report, Technavio highlights the increasing acceptance of liquid detergents as one of the key emerging trends in the global detergent market:
Global detergent market: Increasing acceptance of liquid detergents
The concept of liquid detergent was introduced after powder detergents and bars/soaps, but the adoption of liquid detergent has gained significant market share over the latter. This scenario has propelled the demand and value of liquid detergent. Some of the benefits of using liquid detergents are liquid detergents completely dissolve in water, whereas powder detergents do not completely dissolve; liquid detergents do not accumulate on clothes, whereas powder detergents leave stains; liquid detergents do not clog the process flow of washing machine, whereas powder detergents sometimes clog the workflow, leaving residues. Thus, these factors drive the adoption of liquid detergents, fueling the growth of the detergent market.
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Global detergent market: Segmentation analysis
This market research report segments the global detergent market by end-user (household, commercial and industrial), by type (powder, liquid) and geographical regions (APAC, EMEA, and the Americas).
The APAC region led the market in 2018 with a market share close to 53%, followed by EMEA and Americas respectively. During the forecast period, the APAC market is expected to continue dominating the global detergent market and register the highest incremental growth.
Technavio’s sample reports are free of charge and contain multiple sections of the report such as the market size and forecast, drivers, challenges, trends, and more.
Some of the key topics covered in the report include:
Market LandscapeMarket ecosystem Market characteristics Market segmentation analysis
Market SizingMarket definition Market size and forecast
Five Forces Analysis
Geographical SegmentationRegional comparison Key leading countries
Vendor LandscapeVendors covered Vendor classification Market positioning of vendors Competitive scenario
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