Global Fabric Care Market: From an estimated market size of US$ 90,658.6 Mn in2018, the value sales of fabric care products are expected to reach US$ 151,726.3 Mn by 2027, with at a CAGR of 5.9%
Valley Cottage, NY -- (SBWIRE) -- 06/27/2019 -- According to the market report published by Future Market Insights titled 'Fabric Care Market: Global Industry Analysis 2013-2017 and Opportunity Assessment 2018-2027,' the revenue generated from fabric care is estimated to be valued at over US$ 90,658.6 Mn in 2018, which is projected to increase at a CAGR of 5.9% during the forecast period (2018-2027).
Fabric care detergents, a product type segment, is projected to gain significant growth in the global fabric care market owing to the increasing use of liquid fabric care products, rise in the adoption of washing machines in developing countries, frequent launch of new fabric care products that are compatible with various types of washing machines and the ease of use associated with liquid fabric care detergents as compared to soaps, bars and blocks are some of the key factors driving the demand for fabric care products across the globe. Moreover, rapidly growing population, increasing per capita expenditure on household cleaning products, expanding global FMCG industry and the growing trend of hygienic personal care are also among factors that are expected to boost the demand for fabric care products during the forecast period.
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Companies in the fabric care market are adopting various marketing strategies to increase their market share, revenue, penetration and customer base. For instance, various players offer combo deals, which helps boost their sales & generate profits, product innovation to create loyalty to the brand and the introduction of various products in same product category for different user groups are some of the factors contributing to the global growth of the fabric care market. Moreover, packaging plays an important role in protecting and extending the shelf life of a wide range of FMCG products, thus, nowadays, consumers are not only concerned about buying natural & green-label home care, personal care and fabric care products, but are also demanding environment-friendly packaging. Thus, growing consumer expectations for eco-friendly packaging and consciousness about the detrimental effects of fabric care containers and plastic packaging on the environment are projected to accelerate the growth of the natural fabric care market worldwide. Moreover, the frequent launch of fabric care products that target specific customers, coupled with increasing demand for green products, is creating considerable opportunities in the global fabric care market.
The global fabric care market is segmented on the basis of regions, which include North America, Latin America, Asia Pacific Excluding Japan (APEJ), Europe, Middle East & Africa and Japan. Among all the regions, the Asia Pacific excluding Japan and Europe regions are estimated to have a substantial value share. In terms of value, APEJ is the most attractive region in the global fabric care market, and is expected to grow at a CAGR of 6.9% over the forecast period. In the global fabric care market, the region is expected to gain 278 BPS during the forecast period.
On the basis of product type, the fabric care market is segmented into fabric detergents, fabric softeners/enhancers, stain removers/bleach and other fabric care products. In 2018, the fabric detergents segment accounted for the highest revenue share of 48.7% in the global fabric care.
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Key Players in the Global Fabric Care Market
Detailed profiles of companies are also included in the global fabric care market report to evaluate their performance, key product offerings and recent developments. Some of the key players profiled in the global fabric care market study include Alicorp S.A.A.; S.C. Johnson & Son Inc.; Reckitt Benckiser Group PLC; LG Household & Health Care Ltd.; Golrang Industrial Group; Wings Corporation; Whealthfields Lohmann Guangzhou Ltd.; RSPL Limited; Church & Dwight Co., Inc.; Lion Corporation; Nice Group Co., Ltd.; Kao Corporation; Fabrica de Jabon La Corona; SA de CV; Henkel AG & Co. KGaA; Unilever PLC; Guangzhou Blue Moon Industry Co., Ltd.; Procter & Gamble Co.; Amway Corporation; Guangzhou Liby Enterprise Group Co., Ltd. and others.