Driven, in part, by online sales, the global laundry care market will reach nearly $127 billion by 2027, according to a new FMI report. The report presents the value and volume forecast of the global laundry care market and provides key insights into the factors driving market growth as well as the factors restricting market growth. The estimates point to sales growth from about $75.5 billion in 2017 to $126.9 billion by the end of 2027, representing a CAGR of 5.3% over the forecast period.
The report segments the global laundry care market on the basis of product type (fabric softeners, laundry detergents, others), on the basis of source type (synthetic, organic, others), on the basis of form type (powder, cake/block, liquid, others) and on the basis of distribution channel (wholesaler/distributors, supermarket/hypermarket, convenience stores, ecommerce, grocery stores, others).
According to FMI:
- Fabric softener sales will reach $29.1 billion (CAGR 5.6%);
- Laundry detergent sales will reach $75.0 billion (CAGR 5.3%);
- “Synthetic source” detergent sales will reach $66.0 billion (CAGR 5.1%);
- “Organic source” detergent sales will reach $38.3 billion (CAGR 5.6%);
- Powder detergent sales will reach $38.5 billion (CAGR 5.4%);
- Liquid detergent sales will reach $58.3 billion (CAGR 5.5%);
- Convenience store sales will reach $34.0 billion (CAGR 5.5%);
- Finally, ecommerce sales are expected have a CAGR of 6.1% to reach $14.5 billion.
According to FMI, the Asia Pacific (excluding Japan) market is expected to exhibit a CAGR of 5.7% through 2027 to reach nearly $36 billion in sales. Meanwhile, Western Europe will grow at a CAGR of 5.4% to nearly $26.7 billion by 2027.