June 13, 2024
Global Fabric Wash and Care Product Market

The Global Fabric Wash and Care Product Market Is Estimated to Driven By Growing Focus on Hygiene

Fabric care products including detergents, fabric softeners, and stain removers help keep clothes and textiles clean, fresh and wrinkle-free. With rising concerns about hygiene and wellness, demand for effective fabric care solutions has increased substantially. Detergents and laundry aids help eliminate damaging microbes, allergens and odors from fabrics to provide a hygienic environment. The global fabric wash and care product market encompasses a wide range of laundry supplies that help consumers maintain the quality and longevity of their wardrobes. The market comprises laundry detergents, fabric softeners, bleach, stain removers and other specialty laundry products. Fabric care goods facilitate cleanliness while preserving the quality of textiles over multiple washes.

The global Fabric Wash and Care Product Market is estimated to be valued at US$ 131.33 Mn in 2024 and is expected to exhibit a CAGR of 5.3% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.

Market key trends:
Premiumization is a key trend influencing the laundry and fabric care market. Consumers are willing to pay more for innovative products with added benefits. Demand is growing for specialty laundry formulations containing ingredients like activated oxygen for deep cleaning, essential oils for enhanced fragrance, and fabric conditioners that impart softness as well as anti-static and color protection qualities. Eco-friendly natural and organic detergents also have high demand due to rising concern for sustainability and ingredient safety. Manufacturers are actively developing sustainable packaging and green formulations made from plant-based surfactants to appeal to health-conscious buyers. Innovation in product formats including pods, pacs and concentrates further enhances convenience. Going forward, technologies like nanotechnology, digital connectivity and artificial intelligence will positively impact market growth through superior product attributes and consumer experience.

Porter’s Analysis

Threat of new entrants: The threat of new entrants is moderate as the fabric wash and care product market requires high capital investment for manufacturing facilities and R&D for product development. The established brands have strong brand loyalty that makes it difficult for new players to gain significant market share.

Bargaining power of buyers: The bargaining power of buyers is high given the availability of substitute products. Buyers can switch between brands easily based on product quality and price.

Bargaining power of suppliers: The bargaining power of suppliers is moderate as raw materials required for fabric wash and care products such as surfactants and fragrances have few manufacturers globally with established supply networks.

Threat of new substitutes: The threat of substitutes is moderate as there are alternative cleaning methods like dry cleaning and hand washing. However, fabric wash and care products offer convenience.

Competitive rivalry: The competitive rivalry is high considering the market is dominated by global players. Companies compete based on product innovation, pricing, and marketing.

Key Takeaways

The Global Fabric Wash And Care Product Market Size is expected to witness high growth over the forecast period. The global Fabric Wash and Care Product Market is estimated to be valued at US$ 131.33 Mn in 2024 and is expected to exhibit a CAGR of 5.3% over the forecast period 2024 to 2031.

Regional analysis:

Asia Pacific dominates the global fabric wash and care product market with China being the largest producer and consumer. India is another major market led by growing population and rising standards of living. Europe is a significant regional market led by countries such as Germany, UK, and Italy. North America accounts for a substantial share led by US, Canada, and Mexico.

Key players:

Key players operating in the fabric wash and care product market are ABB, EDF, Enel SPA (Enel), General Electric (GE), The Tata Power Company Limited, Mitsubishi Hitachi Power Systems Inc., Toshiba Corporation, Korea Electric Power Corporation, Siemens AG, and Yokogawa Electric Corporation.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it