Home care products are the basic products for daily care and cleaning purposes in households. These products are widely used for household care as well as to maintain the health requirements and well-being of the people. Growth of micro-organisms, germs, dirt, and others on surfaces has become a major cause of several diseases in recent times.
The global homecare ingredients market is expected to surpass US$ 34,828.2 Million by the end of 2030 in terms of revenue, exhibiting a CAGR of 8.11% during the forecast period (2022 to 2030).
Drivers
Homecare ingredients such as surfactants, polymers, and others are multifunctional ingredients used for manufacturing safe and effective home care products. They are used in various applications for cleaning and sanitizing home
There has been an increase in awareness among consumers regarding hygiene and cleanliness at home to prevent the spread of diseases and viruses. A strong focus on household cleaning and hygiene is propelling demand for homecare products, which in turn is driving the global homecare ingredients market growth.
Governments and healthcare organizations have been focusing on disinfecting the surfaces, maintaining hygiene & cleanliness at homes. For instance, in October 2021, the Centers for Disease Control and Prevention (CDC) released guidelines to clean and disinfect home, which include laundry, surface cleaning, among others. Moreover, an increase in the spread of diseases is augmenting demand for homecare ingredients for preventive care. According to the World Health Organization, poor sanitation causes transmission of various human diseases such as cholera, dysentery, intestinal worm infections, typhoid, and others.
Among region, Asia Pacific held a dominant position in the global homecare ingredients market with a revenue share of 48.66% in 2021 and is expected to maintain its dominance during the forecast period. Key countries & sub regions in the Asia Pacific region including China, India, Japan, and ASEAN have shown significant growth in the consumption of homecare ingredients owing to the growing disposable income of consumers. Low manufacturing and labor cost in above-mentioned countries is also boosting the economic growth and thus likely to boost the homecare ingredients market growth over the forecast period.
Figure 1. Global Homecare Ingredients Market Revenue Share (%), By Region, 2021
Market Restraints
Toxicity caused by certain chemicals is expected to hamper the global homecare ingredients market growth over the forecast period.
Chemicals such as sodium lauryl ether sulphate, cetrimonium chloride, sodium hydroxide, sodium hypochlorite, and others are widely used in toilet cleaners. They have corrosive effect on human tissues and can damage internal human organs upon contact. These chemicals can be highly poisonous to both humans and animals if swallowed.
Moreover, household bleach includes chemical sodium hypochlorite, which may cause dermatitis along with the irritation to the skin, eyes, nose, and throat.
Thus, all the above factors are expected to restrain the global homecare ingredients market growth.
| Report Coverage | Details | ||
|---|---|---|---|
| Base Year: | 2021 | Market Size in 2021: | US$ 17,353.9 Mn |
| Historical Data for: | 2017 to 2030 | Forecast Period: | 2022 to 2030 |
| Forecast Period 2022 to 2030 CAGR: | 8.11% | 2030 Value Projection: | US$ 34,828.2 Mn |
| Geographies covered: |
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| Segments covered: |
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| Companies covered: |
Aarti Surfactants, Akzo Nobel N.V., Antozyme Biotech Pvt Ltd, ARC Surfactants, Ashland, BASF SE, Behn Meyer, Cargill, Incorporated, Clarient, Croda International Plc, and DuPont Nutrition & Biosciences |
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| Growth Drivers: |
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| Restraints & Challenges: |
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Market Trends
An increase in the adoption of natural and herbal homecare products is emerging as a lucrative market trend. Consumers are preferring these products for their households due to harmful health effects caused by chemical-based products.
For instance, in August 2021, Trident Ltd., an India-based home textiles, paper & chemicals manufacturing company, launched a new product into laundry business, the 'Tri-Safe' washing powder. It contains natural ingredients such as neem.
In January 2021, a U.S.-based multinational company, Amway launched ’Amway Home Fruit & Veggie Wash’, the cleaning solution which is made of natural cleaning agents. It has no added chlorine, alcohol, artificial color, or animal-based ingredients.
Figure 2. Global Homecare Ingredients Market Revenue Share (%), By Application, 2021
Among application, surfactant segment held a major market share of 41.1% in 2021 and is expected to retain its dominance throughout the forecast period. Surfactants are the most versatile products of the chemical industry. Surfactants have a wide range of applications in the manufacturing of detergents as cleaning, wetting, dispersing, emulsifying, foaming, and anti-foaming agents. Surfactants are amphiphilic molecules that have hydrophobic and hydrophilic parts. The hydrophobic tail is a hydrocarbon, fluorocarbon, or siloxane. Surfactants are typically classified based on their polar heads as the hydrophobic tails are often similar.
Global Homecare Ingredients Market - Impact of Coronavirus (COVID-19) Pandemic
The COVID-19 pandemic has drastically affected the overall operations of industries across different regions, owing to lockdown imposed for prolonged periods, restrictions enforced on international trades, shutdown of manufacturing units, travel bans that led to supply chain disintegration, shortage of raw materials, and others. Homecare ingredients are used in other industries and in other industry. As the lockdown restrictions were relaxed, raw materials were supplied to the manufacturing units and consequently market players expanded their production capacity. Demand for homecare ingredients was continuously rising as home cleaning was considered as an everyday routine. The COVID-19 pandemic has brought a positive change about sanitation and prevention of infection. The pandemic has raised awareness among the consumers of the importance of cleaning to kill viruses and bacteria. Thus, homecare ingredients market is expected to witness a positive growth over the forecast period 2022-2030.
Competitive Section
Major players operating in the global homecare ingredients market include Aarti Surfactants, Akzo Nobel N.V., Antozyme Biotech Pvt Ltd, ARC Surfactants, Ashland, BASF SE, Behn Meyer, Cargill, Incorporated, Clarient, Croda International Plc, and DuPont Nutrition & Biosciences.
The growth of the homecare ingredients market is attributed to rising living standards, growing disposable income, rapid urbanization, and substantial investment by the governments. Moreover, the home care industry is governed by regulatory agencies, with increasing demand for cleaning products, all of which drive the growth of the global homecare ingredients market.
Market Dynamics
Homecare ingredients are widely used in products such as floor cleaners, toilet cleaners, surfactants, and others. These products are used for maintaining healthy lifestyle by preventing infectious diseases and controlling allergens.
Consumers prefer homecare products for everyday uses and is considered an essential product. An increase in household expenditure is the factor, which is expected to drive the market growth due to growing need for using homecare products. This factor is attributed by the increase in online sales of household cleaning products, increase in number of houses, rise in disposable income, and others. For instance, according to the Organization for Economic Co-operation and Development data published in April 2022, the household spending in Canada increased from US$ 953.71 billion in 2020 to US$ 1,026.02 billion in 2021. Similarly, according to the World Bank, the final consumption expenditure in India grew from US$ 1.94 trillion in 2020 to US$ 2.24 trillion in 2021.The significant increase in household expenditure around the world is expected to drive the global homecare ingredients market growth.
Key features of the study:
Detailed Segmentation:
“*” marked represents similar segmentation in other categories in the respective section.
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