High Prices of Laundry Detergent Pods and Concerns for Poisoning
The laundry detergent pods are highly concentrated liquid and are often dangerous when consumed. Many children mistakenly consume the brightly colored packets of the laundry detergent pods as the packaging resembles to that of hard candies, leading to many death cases. Owing to such a factor, several restrictions were recorded for the product in the past. Moreover, laundry detergent pods are priced at a higher end for which the product might not be widely accepted across many developing countries. Such factors are anticipated to hinder the growth of the global laundry detergent pods market during the forecast period.
The global laundry detergent pods market is thriving on the back of high superiority of laundry detergent pods when compared to other liquid or powder detergents. Moreover, increasing shipments of detergents on the back of rising demand for laundry products around the globe is also anticipated to contribute significantly towards the growth of the global laundry detergent pods market. According to United States Census Bureau, product shipments value of household detergents increased from 3,532,162.00 US$ 1000 in the year 2002 to 10,137,793.00 US$ 1000 in the year 2016.
The market is anticipated to record a robust CAGR throughout the forecast period, i.e. 2020-2028. The global laundry detergent pods market is segmented by application into domestic and commercial, out of which, domestic segment is anticipated to hold the largest market share on the back of growing acceptance of washing machine as a household appliance amongst consumers. Consumers around the globe are shifting towards electrical consumer appliances which makes their life easier and convenient. Products such as washing machine are widely accepted owing to the numerous benefits provided by the appliance, such as saving time of the user while the user can focus on other important tasks. Moreover, washing machine manufacturers recommend using laundry detergent pods as they help to maintain longer life of the machines. The concentrated liquid in the laundry detergent pods does not contain slow dissolving components which usually gets stuck in different parts of the washing machine and forms a layer affecting the machine’s performance. According to the statistics of National Bureau of Statistics, China, sales of household washing machine in the nation increased from 3,471 (10,000 sets) in the year 2000 to 19,194.63 (10,000 sets) in the year 2017. CLICK TO DOWNLOAD SAMPLE REPORT
Rising Popularity of High-Efficiency (HE) Detergents
Growing concern for shortage of water around the globe and amount of water wasted during the process of cleaning of clothes in laundry machines is raising the demand for high-efficiency (HE) detergents that are used at a minimum quantity to gain maximum number of washes. HE detergents provides maximum cleaning performance when applied in HE washers and helps to achieve energy and water savings.
Moreover, HE detergents are thick concentrated liquids which helps to keep the washer in excellent working condition. The biggest concern with conventional detergents is to decide the exact quantity of detergent required for a certain load of laundry. Liquid detergent pods come in pre-determined dose and thereby helps from the excessive use of detergent which might harm the fabric and reduce the fabric’s life.
Growing Awareness for Laundry Detergent Pods
Detergent manufacturers are increasingly spending on celebrity endorsements so as to create awareness amongst consumers for laundry detergent pods. Additionally, several strategies have been adopted by manufacturers so as to convince the consumers to try these products. Celebrity endorsements provide an extra edge of brand recognition and credibility to detergent manufacturers and helps to gain instant recognition, trust and traction in both domestic and commercial applications. Manufacturers have also further utilized the online e-commerce distribution channel for the availability of laundry detergent pods amongst the consumers at an ease. The companies are also investing heavily to create product awareness in the rural and semi-urban population in the developing economies, where the adoption of washing machines is increasing at a rapid pace. Such factors are anticipated to drive the growth of the global laundry detergent pods market in the upcoming years.
Our in-depth analysis of the global laundry detergent pods market includes the following segments:
By Distribution Channel
On the basis of regional analysis, the global laundry detergent pods market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region.
North America is anticipated to hold the largest market share on the back of growing demand for innovative products in household care that provide convenience, sustainability and flexibility amongst the consumers, especially in nations such as U.S. and Canada. Moreover, the laundry detergent pods available in the region usually contains a mixture of detergent, stain remover and cloth brightener, which seems appealing to consumers. Additionally, growing need for products amongst hoteliers in the region that helps them to maintain their service standards is also anticipated to promote significantly towards the growth of the laundry detergent pods market in the region throughout the forecast period.
The global laundry detergent pods market is further classified on the basis of region as follows:
Unilever announced that it has achieved a breakthrough innovation in the laundry category with Persil Powergems which a new kind of premium detergent that is neither powder nor liquid.
Church & Dwight Co., Inc. announced that it has developed a new product called the “ARM & HAMMER™ Plus OxiClean™ Super Concentrated Liquid Laundry Detergent” which is an innovative and affordable solution from the house of its sub-brand ARM & HAMMER™.
In 2023, market players might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain.
Controlling Inflation has become the first priority for global economies from last quarter of 2022 and to be followed in 2023. With skewed economic situations, rise in interest rate by governments to control spending and inflation, spiked oil and gas prices, high inflation, geo-political issues including U.S. & China trade war, Russia-Ukraine conflict to intensify the global economic issues.
The interest rates in the U.S. may be less sensitive in 2023 as compared to 2022; sigh of relief for businesses. Positive business sentiments, healthy business balance sheets, growth in construction spending (private construction value in 2022 stood at $1,429.2 billion, 11.7 percent (±1.0 percent) above the $1,279.5 billion spent in 2021, Residential construction in 2022 was $899.1 billion, up by 13.3 percent (±2.1 percent) from $793.7 billion in 2021, non-residential construction touched $530.1 billion, 9.1 percent (±1.0 percent) above the $485.8 billion in 2021.) showcases minimal impact of recession in the country.
Similarly, spiked spending in the European and major Asia economics including, India, China & Japan to showcase less impact on the global demand.