The household cleaning products market is expected to grow by USD 15.7 billion during 2020-2024. The report also provides the market impact and new opportunities created due to the COVID-19 pandemic. We expect the impact to be significant in the first quarter but gradually lessen in subsequent quarters – with a limited impact on the full-year economic growth according to the latest market research report by Technavio.
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Technavio has announced its latest market research report titled Global Household Cleaning Products Market 2020-2024 (Graphic: Business Wire)
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The rising number of new houses and rental houses have been fueling the global primary and secondary housing sectors. Besides, the market is witnessing an increase in the number of home renovation and modification activities. In addition, improvements in infrastructure and the living standards of people worldwide have increased the importance of cleanliness and hygiene. These factors have generated a new demand for home care items such as household cleaning products, thereby driving the growth of the market.
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As per Technavio, the growing demand for premium products will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other significant trends and market drivers that will influence market growth over 2020-2024.
Household Cleaning Products Market: Growing Demand for Premium Products
There has been an increase in the demand for premium household cleaning products, especially from consumers in developed countries such as the US, the UK, Canada, and Japan. To capitalize on this trend, vendors are introducing a wide range of premium cleaning products. For instance, Bar Keepers Friend offers a range of premium household cleaning products such as Cleanser & Polish, Soft Cleanser, MORE Spray & Foam, Cookware Cleanser & Polish, and Cooktop Cleaner in the US. The introduction of such premium products will have a positive impact on global household cleaning products during the forecast period.
“Emergence of eco-friendly and sustainable products in household cleaning and rising demand for automatic dishwashing tablets will further boost market growth during the forecast period”, says a senior analyst at Technavio.
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Household Cleaning Products Market: Segmentation Analysis
This market research report segments the household cleaning products market by Product (Surface Cleaners, Dishwashing products, Toilet cleaners, and Other cleaning agents) and Geographic Landscape (APAC, Europe, MEA, North America, and South America).
The APAC region led the household cleaning products market in 2019, followed by Europe, MEA, North America, and South America respectively. During the forecast period, the APAC region is expected to register the highest incremental growth due to the expanding middle-class population in the region.
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Some of the key topics covered in the report include:
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