HOUSEHOLD CLEANERS MARKET ANALYSIS

Household Cleaners MarketSize and Trends

Global Household Cleaners Market Outlook:

• North America accounted for 30% of the global household cleaners market followed by Europe in 2016. These products have been already adopted for very long time in these developed markets as a result of existing awareness and importance of cleaners. Similarly, high standard of sustainable living lifestyle also appertains to maturity of these markets. However, increasing regulation on use of chemical cleaners has led to minimal growth in both of the regions. Occupational Safety and Health Administration (OSHA) revised its regulations by GHS (HazCom 2012), which will govern labelling of products. According to OSHA, products labelling must have brand name, hazard statement, precautionary statement, and pictogram. This is expected to lead to declining popularity of these cleaners among consumers, owing to increasing awareness regarding harmful chemicals used in them.
• Enhanced sanitation standards in emerging countries of Asia Pacific is expected to lead to increasing demand for household cleaners. According to country statistics available in JMP database of 2010, there has been a proportional increase of 20% in people of East Asia, who have improved sanitation from 1998 to 2008. Therefore, Asia Pacific market is expected to exhibit high growth over the forecast period.
• According to Coherent Market Insights’ analysis, the market in China is expected to exhibit 5% CAGR over the forecast period (2017–2025).According to World Vision Data of 2010, emerging countries such as India, Vietnam, Pakistan, and Nepal are expected to witness growth, as over 2.6 million people lack proper sanitation, therefore demand for these is high in these countries.
• According to Coherent Market Insights, specialty household cleaners segment is expected to exhibit a CAGR of 6.9% in the U.S. Increasing demand for chemical-free solution and development of eco-friendly cleaners has boosted demand for specialty cleaners. For instance, Resolution, a U.S.-based company launched ResGel in 2017, which is a non-toxic cleaning solution and is free of volatile organic compounds.
• Key players in the market are focusing on increasing their product portfolios through acquisition strategy and to maintain their positions in the competitive market. For instance, SC Johnson, a U.S-based company that manufactures household cleaning products acquired Method and Ecover brands from People Against Dirty in September 2017.The objective of the company was to enhance its product portfolio.