Dishwashing Detergent Industry Overview
The global dishwashing detergent market size was valued at USD 17.98 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 8.2% from 2022 to 2028.
This can be credited to the growing demand for sustainable and efficient cleaning products. Emerging economies and rising disposable income are likely to propel the market demand over the forecast period. In addition, increasing demand for eco-friendly and bio-based products over chemical-based products has augmented the growth of the market. Growing adoption of the product in the primary and secondary housing sectors, coupled with developments in detergent product packaging, is also likely to boost the market growth over the forecast period.
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Factors such as environmental regulations and changing behavior of consumers toward eco-friendly products are anticipated to drive the market over the forecast period. Furthermore, growing rapid urbanization across the world is expected to augment the market growth over the coming years. Additionally, advertisement and promotional strategies by the key players aid in the growth of the market.
The COVID-19 pandemic has negatively impacted various industries as well as global economies. The whole world was suffering from the lockdown situation and strict social distancing announcing to limit the spread of the virus. Owing to the COVID-19 pandemic, the growth of the industries such as consumer goods and packaging had been steady. Supply chains of raw materials required for manufacturing and the supply chain of dishwashing detergents got affected, thus hindering the growth of the market. With a short period of crisis, the global economy is expected to grow normally as earlier.
Dishwashing detergents are used for cleaning utensils as cleaning agents. Considering the busy lifestyles and convenience of the citizens, dishwashing detergents become more popular. The growing investment by major players to launch new products is further estimated to boost the industry sales. However, the availability of counterfeit or cheap substitutes and strict environmental regulations in some regions may hamper the growth of the market over the coming years.
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Key Companies Profile
Some prominent players in the global dishwashing detergent market include:
- Procter & Gamble (Cascade)
- Henkel AG & Co. KGaA (Pril)
- Reckitt Benckiser Group PLC (Finish)
- Colgate-Palmolive Company
- Kao Corporation
- The Clorox Company
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