Household cleaners market to soon exhibit growth with rise in commercial use

Market - Mohit Shah - May 04,2017

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household cleaners market to soon exhibit growth with rise in commercial use

The household cleaners sector would be experiencing significant growth with a value CAGR of 4.1% from 2016 to 2024.

Considering the developed and developing economies, there has been an increasing trend for the use of homecare and hygiene products. This aspect is expected to fuel the global demand for household cleaners. 

As per the recent market research report offered by Transparency Market Research (TMR), the household cleaners market on the global scenario which was valued at US$ 27,468.6 mn in 2015, would boost up to reach US$ 39,400.9 mn by 2024; the CAGR is anticipated to be valued at  4.1% during 2016 to 2024.

It is interesting to know that, factors such as adoption of healthier lifestyles as well as increasing concern for infectious diseases are seen as the key drivers of the market prevailing since the last few years. Also, the increase in use of surface deodorizers and fabric refreshers has led to the rising demand for household cleaners.

The various popular products under household cleaners market are segmented as specialty cleaners, surface cleaners, and bleaches. The segment of specialty cleaners manages the dominant share in the global market as per the stats of 2015, which accounts for over 60% of the market.

The geographical divergence of the household cleaners market reveals North America to be the dominant region in terms of revenue, accounting for over 31% as noted in 2015, followed by Europe with a share of 28.5%. Also, Asia-Pacific is expected to emerge as the most attractive market for household cleaners on the grounds of future growth potential. In this region, higher awareness related to following a healthy lifestyle along with growing concerns about the opposing effects of infectious diseases is inspiring the demand for household cleaners. Several key manufacturers from the global household cleaners sector are Henkel AG & Company KGaA (Germany), Unilever (U.K), Colgate-Palmolive (U.S), Procter & Gamble (U.S) and Reckitt Benckiser Group plc (U.K). 

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