Household Cleaners Market to Attain a Value of US$ 39,400.9 Million by 2024 and Rises at 4.1% CAGR; High Growth Emerging Economies Underpin Momentum, Says TMR

Thursday, October 18, 2018 General News
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ALBANY, New York, October 18, 2018 /PRNewswire/ --

On account of the leading three companies holding almost half

the market share, the global household cleaners market is a consolidated one. Reckitt Benckiser Group plc, Procter & Gamble Co., and S.C. Johnson & Son Inc. are to name three of the top three companies. They have managed to attain prominent
positions by extending their geographical footprints, diversifying product portfolios, and launching new products every now and then. To that end they have been banking upon strategic partnerships and agreements.

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A report on the global household cleaners market finds that it would expand at a 4.1% CAGR over the course of the forecast duration beginning in 2016 and ending in 2024. Rising at this pace, the market which was valued at US$27,468.6 mn in 2015 will likely attain a value of US$39,400.9 mn by 2024.

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The different types of products available in the global household cleaners market can be broadly classified into specialty cleaners, surface cleaners, and bleaches. Among the three, the specialty cleaners contribute the most to the market revenue. In 2015, it led with almost 60.0% share in the overall revenue. With respect to geography, North America at present accounts for a dominant share in the global household cleaners market because of the high degree of product awareness and spending capacity of people in the region. But its market has become somewhat saturated and hence is predicted to pare its share in the near term.

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Concerns About Hygiene Drives Sales in Global Household Cleaners Market 

At the forefront of driving demand in the global household cleaners market is the rising awareness among people about maintaining a hygienic surrounding at home. This, in turn, is because of the rising urbanization and spending capacity of people worldwide. The Asia Pacific and Latin America household cleaners market have emerged as high growth and most players are seen turning their gaze towards them. This is because of the industrialization and consequent urbanization and economic growth in the regions. North America and Europe, on the other hand, have become saturated market that are expected to rise at a slower pace in the forthcoming years.

Further, growing commercial use of household cleaners, namely surface deodorizers and fabric refreshers are also acting as a catalyst for growth. Adds the lead analyst of TMR report, "The hotel industry is a key end user of surface deodorizers and fabric refreshers."

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Cheaper Substitutes Spells Trouble for Market Revenue Growth 

One challenge facing the global household cleaners market is the easy availability of cheaper substitutes, particularly across developing regions of Latin America and Asia Pacific. This is because regional and local players have a solid foothold in these markets and their competitive pricing strategy is dealing a blow to the overall market revenue.

Another factor serving to dampen sales to a degree is the fact that household cleaners have toxic compositions. This has dampened sales of cleaning agents such as disinfectants and bleaches to a considerable extent. In fact, our in-house lead analyst predicts that the share of bleaches in the overall household cleaners market will likely decline in the forthcoming years since it leads to skin allergy and corrosion.

The review is based on the findings of a TMR report, titled, "Household Cleaners Market (Product - Surface Cleaners, Specialty Cleaners, and Bleaches; Application - Bathroom Cleaners, Kitchen cleaners, Floor cleaners, and Fabric care) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016-2024."

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The report segments the Global Household Cleaners Market into the following:

Global Household Cleaners Market, by Product Type 

  • Surface Cleaners
  • Specialty Cleaners
  • Bleaches

Global Household Cleaners Market, by Application Type 

  • Bathroom cleaners
  • Kitchen cleaners
  • Floor cleaners
  • Fabric care
  • Others

Global Household Cleaners Market, by Geography 

  • North America
    • U.S.
    • Rest of North America
  • Europe
    • U.K.
    • Italy
    • France
    • Germany
    • Rest of Europe
  • Asia Pacific
    • India
    • China
    • Japan
    • Rest of Asia Pacific
  • Middle East and Africa
    • UAE
    • South Africa
    • Rest of Middle East and Africa
  • Latin America
    • Brazil
    • Rest of Latin America

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About Us 

Transparency Market Research is a next-generation market intelligence provider, offering fact-based solutions to business leaders, consultants, and strategy professionals.

Our reports are single-point solutions for businesses to grow, evolve, and mature. Our real-time data collection methods along with ability to track more than one million high growth niche products are aligned with your aims. The detailed and proprietary statistical models used by our analysts offer insights for making right decision in the shortest span of time. For organizations that require specific but comprehensive information we offer customized solutions through ad hoc reports. These requests are delivered with the perfect combination of right sense of fact-oriented problem solving methodologies and leveraging existing data repositories.

TMR believes that unison of solutions for clients-specific problems with right methodology of research is the key to help enterprises reach right decision.

Contact: Mr. Rohit Bhisey Transparency Market Research State Tower, 90 State Street, Suite 700, Albany NY - 12207 United States Tel: +1-518-618-1030 USA - Canada Toll Free: 866-552-3453 Email: sales@transparencymarketresearch.com

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SOURCE Transparency Market Research



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