New York, NY -- (SBWIRE) -- 11/19/2018 -- According to the latest market report published by the company titled 'Laundry Detergent Market: Global industry analysis and forecast, 2018 – 2026,' the global laundry detergent market is projected to reach US$ 215.3 Bn by the end of 2026 and grow at a CAGR of 6.2% during the forecast period.

Laundry detergent industry is mostly volatile to frequent shift in consumer buying trends and demands. Shopping habits of consumers' has been shaped by the changes in forces such as product availability, cultural tradition, financial considerations and product innovations. Rising aspirations for services and products that were previously not available or affordable. Rising consumer income levels and greater disposable incomes, consumers will definitely look out for premium products.

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Moreover, increasing availability of washing machineries along with different laundry services for both residential and commercial purpose, demand for detergents has increase at a faster rate in this decade compared to historic figures. Rising disposable income in the Asia Pacific region and other developing markets, the shift from traditional hand washing to appliance supported methods have driven the automatic detergent consumption influencing laundry detergent market. It is the era where the largest growth of urbanization in the history is undergoing.

Over half of the global population lives in cities and towns, and by 2030 this will increase to approximately 5 million. With this for several consumers, urbanization means smaller storage spaces that will increase demand for smaller sized packages multifunctional multiuse and concentrated detergent verities. The laundry detergent market along with the consumer point of view has tremendously changed over the past decade even from the producer's side as well and the most important of it is that the active ingredients of detergents have become increasingly concentrated.

Effective product packaging has also been a key promotion strategy. Bulk sized, large packets for long term savings, or small packets for consumers with strict budgets, refills and concentrates etc all of these package offering from industry participants has been very effective in attracting new customers.

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The report provides an extensive qualitative and quantitative analysis of the market trends and growth prospects of the Global Laundry Detergent Market, 2017-2026. This report comprises a detailed geographic distribution of the market across North America, Europe, APAC and South America, and MEA. North America is further segmented into U.S., Canada. Europe is divided into Germany, UK, Italy, and Rest of Europe. Asia-Pacific is bifurcated into China, India, Japan, and Rest of Asia-Pacific.

Competitive Landscape and Key Vendors

The Asia Pacific region is anticipated to be the largest region in the global laundry detergent market. Though it is a developing market in terms of detergent manufacturing base, sales figures in the emerging nations of this region are substantial. Sales are anticipated to be driven partly by volume and premiumization as the region's economic prosperity has allowed consumers to buy greater array of these products. Competition has been intense, large volume growth is unlikely and innovation of high quality and more efficient products is the major strategy of the companies operating in this geography.

Global Laundry Detergents Market – Major Players

1. Alpha Chemical
2. General Organics, Inc.
3. Clean Bubbles, Inc.
4. Procter & Gamble
5. Nirma
6. Hindustan Unilever Limited
7. Henkel AG & Company
8. KGaA
9. Church & Dwight Co, Inc.
10. Henkel, etc.

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