The global Homecare Ingredients Market was valued at US$ 18.59 Billion in 2022, according to the Global Homecare Ingredients Market Report, By Type (Surfactants (Anionic (Acid slurry and others), Non Ionic, Cationic, and Amphoteric) and Polymers), By Application (Laundry Detergents, Dish Wash, Toilet Care, Surface Cleaners, and Others (Air Care, Home Insecticides, and Other (air care, home, insecticides) ), and By Region (North America, Latin America, Asia Pacific, Europe, and Middle East & Africa), as published by Coherent Market Insights.
The global homecare ingredients market is expected to reach US$ 32.26 Bn by 2030, exhibiting a CAGR of 7.1% during the forecast period (2023-2030). The market is expected to witness significant growth over the forecast period due to the rising demand for homecare ingredients for various applications such as laundry detergents, dishwashing detergents, toilet care products, and surface cleaners.
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Key Trends and Analysis of the Global Homecare Ingredients Market:
Rising health and hygiene awareness among consumers is a major factor expected to drive the global homecare ingredients market growth. Increasing government hygiene and sanitation awareness about programming guidance and promotions, particularly in developing nations, as well as stringent government rules for the installation and use of advanced products for cleaning in several countries are anticipated to boost the growth of the global homecare ingredients market.
Key Takeaways of the Global Homecare Ingredients Market:
- Among type, the surfactants segment, in the global homecare ingredients marketis dominant over the forecast period. Surfactants are the most versatile products in the chemical industry. Surfactants have a wide range of applications in the manufacturing of detergents as cleaning, wetting, dispersing, emulsifying, foaming, and anti-foaming agents. Surfactants are amphiphilic molecules that have hydrophobic and hydrophilic parts. The hydrophobic tail is a hydrocarbon, fluorocarbon, or siloxane. Surfactants are typically classified based on their polar heads as the hydrophobic tails are often similar. If the head group has no charge, the surfactant is called non-ionic. If the head group has a positive charge, it is called cationic, and if the head group has a negative charge, it is called anionic surfactant. Anionic and non-ionic surfactants are by far the most commonly used surfactant types in the homecare industries. Anionic surfactants find use, especially in cleaning products such as laundry detergents and shampoos. Cationic surfactants are used as a textile softener in detergents and as an anti-static agent. The increasing use of detergents and cleaning products is driving the demand for surfactants globally.
- A polymer is a chemical compound with molecules bonded together in long, repeating chains. Polymers are both man-made and naturally occurring. Polymers are used as a solution in laundry care, dishwashing, hard surface cleaning, and hand sanitizers. It is used as a thickener and to maintain low pH levels of dishwashing liquids as well as provide a creamy, dense, and table-foaming texture to sanitizers. Polymers are also used in detergent powder as an anti-re-depositing agent and anti-scaling agent to maintain the color of the cloths. Polymers in detergents act as anti-soil re-deposition agents.
- The major players operating in the global homecare ingredients market include Aarti Surfactants, Akzo Nobel N.V., Antozyme Biotech Pvt Ltd, ARC Surfactants, Ashland, BASF SE, Behn Meyer, Cargill, Incorporated, Clarient, Croda International Plc, and DuPont Nutrition & Biosciences
- Technology launches, acquisitions, and Research and Development activities are some of the key strategies adopted by the key players in the global homecare ingredients market. For instance, in June 2021, Lifebuoy, a brand under Unilever, is a fast-moving consumer goods company launched a new range of dermatologically tested cleaning products for homecare. These products are called Botanitech, and the range includes surface sprays, general-purpose cleaners, trigger sprays, eco refills, and antibacterial wipes.
Global Homecare Ingredients Market - Impact of Coronavirus (COVID-19) Pandemic:
The emergence of the COVID-19 pandemic disrupted the global economy and had numerous consequences on the supply chain in market. In 2020, there was a shortage of raw materials and complex transportation due to travel restrictions. The COVID-19 pandemic has intensified the focus of the world on cleaning as well as sanitizing surfaces at home. The Global Homecare Ingredients Market witnessed a high demand for homecare products. However, due to supply chain disruptions and lockdowns in major countries, such as the U.S. and India, the homecare ingredients market growth reduced in 2020. Also, due to disruptions in transportation, the production and supply of raw materials for the homecare ingredients market slowed down worldwide. There was large negative growth in the first phase of the year 2020 due to delayed import shipments and a decrease in manufacturing activities for the safety of employees. This resulted in high prices for raw materials and ingredients in homecare products.
