NEW YORK, March 25, 2022 /PRNewswire/ — The laundry care market potential growth difference will increase by USD 21.88 billion from 2020 to 2025, as per the latest market analysis report by Technavio. The report also predicts the market to witness an accelerating growth momentum at a CAGR of 4.22% during the forecast period, according to Technavio.
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Laundry Care Market Vendor Analysis
- The market is fragmented, and the degree of fragmentation will accelerate during the forecast period.
- Church and Dwight Co. Inc., Colgate-Palmolive Co., Godrej Consumer Products Ltd., Henkel AG and Co. KGaA, Hindustan Unilever Ltd., Kao Corp., Reckitt Benckiser Group Plc, S. C. Johnson and Son Inc., The Clorox Co., and The Procter and Gamble Co. are some of the major market participants.
- The vendors are focusing on differentiating themselves from each other based on product quality, packaging, product pricing, and product portfolio to compete in the market.
- Vendors such as Reckitt Benckiser Group Pl are offering VANISH liquid detergent which provides amazing, effective and safe stain removal for fabric material.
- To make the most of the opportunities, market vendors will focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
View Report Overview to Know more about the Vendors and their strategic initiatives
Factors such as product innovation and portfolio extension, shift from traditional laundry care products, and improved packaging solutions for laundry care products will offer immense growth opportunities. However, balancing production cost, price, and quality of products, biodegradation and biohazard risks, and low penetration of advanced laundry care products in developing regions will challenge the growth of the market participants.
Laundry Care Market Segmentation Analysis
- Product
- Laundry Detergent
The laundry detergent…
