London, 15 October 2015: Technavio, the independent tech-focused global research firm, has published a report on the global household cleaning products market 2015-2019, which is predicted to grow at a CAGR of 4.97% during the forecast period of 2014-2019.
The changing buying pattern of consumers regarding the usage of household cleaning products has triggered the market growth. Increasing awareness about family health and hygiene is motivating consumers to use household cleaning products daily.
“Convenience, better packaging, and aesthetic appeal are key attributes of premium household cleaning product brands. Vendors are increasing their profit margins by charging premium prices for these products,” says Faisal Ghaus, Vice President of Technavio.
“Vendors are trying to bring in advanced and attractive packages that help improve convenience, safety, and handling. Manufacturers also use advanced dispensers and aerosol systems as well as compact packages to further improve the convenience for consumers.”
Key Market Drivers
- Evolving buying pattern of consumers
- Emerging middle class and increasing disposable income
- Technological advances and product innovation
- Growth in organized retail
Key Market Trends
- Growing demand for premium products
- Packaging innovation
- E-tailing and social media marketing
- Green household cleaning products
- Rise in demand for fragrances
Key Market Vendors
- P&G
- Unilever
- Reckitt Benckiser
- Henkel
- Colgate-Palmolive
To define the market circumstances in the next 3-4 years, Technavio analysts have conducted in-depth analysis of the impact of market drivers, challenges and trends featuring data on product segmentations, vendor shares, growth rate by revenue and an evaluation of the different buying criteria in the order of importance.
If you are interested in more information on this topic and our upcoming research on the Global Household Cleaning Products Market 2015-2019, please send an e-mail to media@TechNavio.com.
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