Press Release
Press Release
According to a new report by EMR titled, ‘Global Home Care Market Report and Forecast 2024-2032’, the market attained a value of nearly USD 105.33 billion in 2023. The market is further expected to grow at a CAGR of around 3.5% between 2024 and 2032.
The increasing demand for household care products, owing to the rising standards of living, rapid urbanisation, and increasing consumer focus on household aesthetics, is driving the market growth. The expansive portfolio of major home care products manufacturers is further propelling the growth of the market. Moreover, the increasing demand for bathroom and laundry care products owing to the growing consumer awareness about hygiene and sanitation is boosting the market for home care products. Over the forecast period, the adoption of innovative branding and promotion strategies by major home care product manufacturing companies, coupled with the thriving e-commerce sector, is anticipated to significantly contribute to the market growth.
The growing research and development activities aimed towards producing innovative and efficient home care products are expected to support the market growth in the forecast period. For instance, in June 2021, Unilever Plc (OTCMKTS: UNLYF) announced the launch of BotaniTech, a new cleaning and disinfection range under its brand Lifebuoy to provide a nature-powered homecare solution. The range includes a multi-surface cleaner with an eco-refill, a general cleaner, antibacterial wipes, along with an aerosol. These are based on 100% naturally derived cleaning ingredients and essential oils and provide anti-bacterial protection. Furthermore, the availability of a wide variety of home care products such as dishwashing soaps and bathroom care products across online platforms like Amazon (NASDAQ: AMZN) and Alibaba (NYSE: BABA) is anticipated to propel the online sales of home care products.
Geographically, the Asia Pacific accounts for a significant share in the market, owing to the high population base in countries like India and China. Further, the growing health awareness among consumers is leading to the increased adoption of cleaning and hygiene products in an endeavour to keep any harmful bacteria and virus at bay. Additionally, the robust development of supermarket and hypermarket chains in the region is anticipated to be a major driving factor for the market growth.
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The major players in the global home care market are Unilever Plc, The Procter & Gamble Company, Henkel AG & Co. KGaA, Kao Corporation, S.C. Johnson & Sons Inc., Natures Organics Pty Ltd, George Weston Foods Limited, and Saraya Goodmaid Sdn. Bhd., among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.
Expert Market Research (EMR) is a leading market research and business intelligence company, ensuring its clients remain at the vanguard of their industries by providing them with exhaustive and actionable market data through its syndicated and custom market reports, covering over 15 major industry domains. The company's expansive and ever-growing database of reports, which are constantly updated, includes reports from industry verticals like chemicals and materials, food and beverages, energy and mining, technology and media, consumer goods, pharmaceuticals, agriculture, and packaging.
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