The liquid detergent market is anticipated to witness a steady growth in its demand during the forecast period on account of environmental concerns which has led the companies to adopt eco friendly manufacturing techniques. Some of the major brands that are operating in this segment include Persil Bio, and Omo Green among others.
Some of the key factors pushing the demand for this market include increasing sales network for such products. Rapid advancements in the field of technology leading to the influx of 4G and 5G internet services has led the manufacturers to resort to selling products online in order to expand their sales network and in order to address a broader base of consumers. This factor has led the consumers resort to online purchases for convenience. Further, rapid penetration of the e-commerce companies has induced a stiff competition amongst them and they have resorted to aggressive marketing and promotional activities by way of offering huge discounts in order to lure the consumers to buy products online. This factor has further boosted the demand for the market to a great extent and is likely to retain the same trend during the forecast period as well.
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Environmental concerns have further induced the manufacturers to shift their focus to eco-friendly liquid laundry detergents that are made from natural substances, which is another major factor pushing the demand forward for liquid detergents. This trend is likely to come from the consumers as well due to increased concerns regarding hygiene. This has also led the manufacturers to use ingredients such as coconut oil and mineral based surfactants and plant based enzymes among others.
Research and development in this field provides with ample opportunity for the manufacturers to create new products that will cater to the changing needs and preferences of the consumers and thus this factor is expected to pose as a suitable opportunity for the growth of this market in the future.
Based on types the liquid detergent market is segmented into organic and inorganic liquid detergents, where the latter is expected to lead the market throughout the forecast period. This is due to well established consumer base for inorganic/synthetic detergents among the consumers and as they come at a cheaper price, they appear to be more lucrative for the consumers. The organic segment is expected to maintain a rapid growth during the forecast period on account of its eco-friendly nature and also due to the rising health and hygiene concerned consumer base.
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Based on channels, the market is segmented into online channel, supermarkets and hypermarkets, departmental stores and convenience stores. Online channel is expected to register the fastest growth rate during the forecast period, while the offline channels accounted for a dominant market share when combined.
Based on end use, the market is segmented into residential and commercial. Liquid detergents used for commercial purposes are expected to exhibit fair growth during the forecast period.
Geographically, North America and Europe accounted for the dominant share and are expected to lead the market throughout the forecast period. Asia Pacific, however is anticipated to maintain the fastest growth rate during the forecast period. Latin America is expected to exhibit a fair growth trend for this market due to the major contributing countries such as Brazil and Argentina among others.
The global liquid detergent market is marked by some intense competition from the major manufacturers operating in this market. Frequent mergers and acquisitions, joint ventures and partnerships, product innovations and geographical expansions are some of the major strategies adopted by these companies in order to ensure long term sustenance in this market. Some of the major companies operating in this market include Henkel & Company KGaA, Church and Dwight Company, The Clorox Company, Unilever Plc and Procter and Gamble among others.
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