Global Drain Cleaner Market 2018-2022| Growing Adoption of Omni-Channel Retailing to Boost Growth| Technavio
LONDON--(BUSINESS WIRE)--Jan 3, 2019--The global drain cleaner market is expected to post a CAGR of close to 5% during the period 2018-2022, according to the latest market research report by .
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Technavio predicts the global drain cleaner market to post a CAGR of close to 5% by 2022. (Graphic: Business Wire)
A key factor driving the growth of the market is rising online sales. The revenue generated by the global drain cleaner market through online distribution channels has been growing gradually. In developed regions like the Americas and Europe, the online distribution network attained a significant growth momentum in 2017. Therefore, players in the US, the UK, Germany, France, and Italy will generate huge sales through online distribution channels by the end of the forecast period. In developing regions, with the growing adoption of smartphones and internet penetration, the sales of drain cleaners are expected to gain momentum through e-commerce sites and expand exponentially 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 growing adoption of omnichannel retailing as one of the key emerging trends in the global drain cleaner market:
Global drain cleaner market: Growing adoption of omnichannel retailing
The adoption of the omnichannel strategy is an emerging trend in the global drain cleaner market. To expand customer base and increase revenue, vendors are integrating their offline-online presence by implementing omnichannel strategy in their respective business models. Evolving customer shopping patterns, changing online purchasing behavior, and the growing number of digitally driven customers, particularly the millennial population, are some of the factors encouraging vendors to shift toward online retailing. Product improvement, appropriate channels of distribution, effective advertising, and aggressive pricing strategies are essential factors that affect the promotion of products among end-users. Owing to busy schedules, consumers prefer to shop online rather than at physical stores for convenience. Factors such as rising internet penetration and adoption of digital products such as tablets, smartphones, and laptops have boosted online sales.
“Consumers today are more engaged in social networking and blogs to educate themselves about various products. Social media is a boon for any industry as it provides a platform to actively engage with consumers. Vendors, therefore, prefer to use social media platforms, such as Facebook, Twitter, Instagram, and YouTube, to increase awareness and promote their products.” says a senior analyst at Technavio for research on cosmetics and toiletry.
Global drain cleaner market: Segmentation analysis
This market research report segments the global drain cleaner market by product type (liquid and gel, and others) and geographical regions (APAC, EMEA, and the Americas).
The EMEA led the market in 2017 with a market share close to 41% of the market share, followed by APAC and Americas respectively. However, during the forecast period, the APAC region is expected to register the highest incremental growth, followed by the Americas.
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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SOURCE: Technavio Research
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PUB: 01/03/2019 09:05 AM/DISC: 01/03/2019 09:05 AM