Home And Laundry Care Market Size, Share, Growth Analysis, By Type(Laundry Care, Household Cleaners), By Distribution Channel(Online, Offline), By Region - Industry Forecast 2024-2031

Global Home and Laundry Care Market size was valued at USD 188.65 Billion in 2022 and is poised to grow from USD 201.29 Billion in 2023 to USD 338.17 Billion by 2031, at a CAGR of 6.70% during the forecast period (2024-2031).

Growing public awareness of the importance of laundry and household hygiene has been a primary driver of industry expansion. Additionally, it is anticipated that the easy accessibility of laundry and domestic cleansers as well as the availability of variations such as various fragrances in the market will fuel market expansion.

Due to growing disposable income and increasing initiatives by manufacturers to introduce organic cleaning products, the global home and laundry care market is anticipated to witness rapid expansion in the upcoming years. The online sales distribution channel is anticipated to be crucial in positively influencing market expansion.

It is also anticipated that the dissemination of COVID-19 would increase consumer awareness of the importance of maintaining good personal hygiene and clean home, which will propel the market's expansion.

The demand for household and laundry care goods increased as a result of significant infrastructure investments brought on by rising disposable income and growing urbanization. Also, more possibilities for key industry players are anticipated to arise from the rising demand for environmentally friendly and sustainable laundry and household cleaning products, which is predicted to significantly fuel this market's expansion throughout the course of the forecast year.

Increasing environmental worries about the hazardous chemicals included in cleaning products, together with rising health and hygiene awareness, are expected to be important market drivers throughout the course of the forecast period. Many industry actors are making significant efforts to launch eco-friendly cleaning products in order to meet the expanding customer demand.

The introduction of COVID-19 had a huge influence on the world economy, and major market participants had to deal with serious issues like decreased product demand, halted transit, and supply chain disruption. The World Health Organization (WHO) mandated the use of household disinfection methods in response to the pandemic to reduce the danger of virus contamination. Home care items like household cleansers, detergents, and room disinfectants saw a surge in demand as a result of this. For instance, according to data from Stepan Company's annual report, sales of floor surfactants in North America increased by 8% in 2020 compared to the prior years. The business added that the increase in sales volume was mostly fueled by consumers' strong demand for cleaning, disinfection, and personal wash products.

US Home and Laundry Care Market is poised to grow at a sustainable CAGR for the next forecast year.