PORTLAND, Oregon, October 17, 2018 /PRNewswire/ --
Rise in disposable income of the middle-class population and advent of technologically advanced laundry care system would propel the growth of the global fabric softeners and conditioners market
Allied Market Research published a report, titled, Fabric Softeners and Conditioners Market by Product Type (Liquid Softener, Dryer Sheet, and Others) and Application (Residential and Commercial): Global Opportunity Analysis and Industry Forecast, 2018-2025. The report offers comprehensive analyses of the drivers & opportunities, key investment pockets, market size & estimations, strategic developments, and competitive landscape. According to the report, the global fabric softener and conditioners market generated $16.90 billion in 2017 and is expected to reach $23.52 billion by 2025, registering a CAGR of 4.3% from 2018 to 2025.
High disposable income of the middle-class population and advent of technologically advanced laundry care system drive the growth of the industry. The use of synthetic chemicals that can harm the environment hinders the market. On the other hand, increasing demand for fabric softeners and conditioners in various sectors including households, laundry services, textile industry, hospitality, and others would create new opportunities for the market players in future.
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Liquid softeners segment to maintain its dominance by 2025
Liquid softeners segment contributed more than two-thirds of the total market share in 2017, owing to their ability to easily dissolve during the rinsing cycle in washing machines coupled with their growing popularity in laundry services, textile, and hospitality sectors. This segment is expected to maintain its major share in terms of revenue by 2025. However, dryer sheets segment registered the highest CAGR of 4.6% from 2018 to 2025, owing to better convenience and ease of use as compared to liquid softeners. The report also analyzes other product types.
Commercial application segment to lead throughout the forecast period
Commercial applications segment contributed more than half of the total market share in 2017 and is expected to maintain its lead position throughout the forecast period. This segment is expected to register the fastest CAGR of 4.5% from 2018 to 2025, owing to the use of fabric softeners and conditioners in laundry services, textile, and other sectors for the removal of static cling and ensure improved shelf-life of clothes. The residential application segment would grow at a steady rate during the forecast period.
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North America: The highest revenue generating region
North America contributed nearly one-third of the total market share in 2017 and is expected to maintain its dominance by 2025. This is due to the rise in consumption of fabric softeners in the laundry and textile sectors of the region. However, huge population base and rise in demand for clothing in emerging economies such as India and China have enabled the Asia-Pacific region to register the fastest CAGR of 5.0% from 2018 to 2025.
Leading industry players
The key market players analyzed in the research include Reckitt Benckiser Group PLC., Unilever PLC., Dropps, Colgate Palmolive Company, Henkel AG & Co. KGaA, Lion Corporation, Procter & Gamble Co., LG Household and Healthcare, Kao Corporation, and The Sun Products Corporation. They have implemented different strategies including expansion, collaborations, joint ventures, mergers & acquisitions, partnerships, and others to gain a leading position in the industry.
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SOURCE Allied Market Research