Home Care Products Market

Home Care Products Market is accounted for USD 95,423 million in 2020, growing at a robust CAGR of 3.5% during forecast period

Introduction of the Home Care Products Market Report

Homecare products are the products used to maintain the interior of a home or any commercial building. It includes all the personal care products such as hair gel, face wash, and many more. Moreover, it can range from decorative products to cleaning products to various gadgets that can simplify a consumer’s life.

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Market Dynamic

Key Drivers and Emerging Trends

The market’s growth is attributed to growing urbanization and the modification in lifestyle due to the increasing disposable income. Additionally, the fluctuating lifestyle of consumers and growing preference towards advanced sanitation is positively impacted the market growth. For instance, the introduction of air purifiers, vacuum cleaners, window cleaner robots, robot mop, multipurpose cleaning kits, and others had surged the demand for home care products among the consumers. Further, growing consumer awareness and the rising importance of improved lifestyles and concerns regarding health and hygienic living propel the market towards growth.

Moreover, the spread of the COVID-19 during 2020 had also boosted consumer mindfulness regarding home hygiene resulting in a profitable sale of the Home Care Products. Various government and organizational initiatives are also propelling the growth of the market. For instance, the World Health Organization, during March 2020, had set interim procedures regarding the Home Care for Patients with COVID-19 with unimportant symptoms. Such guidelines boost the utilization of several Home Care Products on an unvarying basis. Thus, these factors are boosting home care product market growth.

Restraint in the Home Care Products Market

However, the scarce resources and the need to maintain the stability between price and quality might restrict the growth of the market within the forecast period. Moreover, changing taxation policies of the product may increase the price of the product, which further hampering the market growth.

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Product – Segment Analysis

Based on the Product, the household care segment is expected to grow at a higher CAGR in the global home care products market during the forecast period. This can be attributed to the fact that proper home care enhances the beauty of the home and, at the same time, reduces the risk of infection due to poor sanitation, especially in remote areas. Thus, it helps to control or reduce the growing rate of hospitalization due to infections.

Distribution Channel – Segment Analysis

Based on the Distribution Channel, Online Stores are projected to grow at a higher CAGR in the global home care products market during the forecast period due to the increasing trend of e-commerce. This segment’s growth is also attributed to the companies’ attractive discounts over online platforms and the easy convenience of delivery provided by the e-commerce platforms. Moreover, the rapid digitalization and the rising penetration of electronic devices in emerging nations are expected to boost the demand for home care products through e-commerce websites.

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Regional – Segment Analysis:

Based on the region, The North America region is expected to grow at a higher CAGR in the global home care products market during the forecast period. This can be attributed to the rising living standards and high consumer purchasing power, which, in turn, are boosting the demand for quality home care products in the region. Moreover, with the outbreak of the COVID-19 pandemic, there is expected to be a growth in product demand from countries like the US and Canada due to the increasing focus on sanitation and hygiene of homes to remove the risk of infections. Therefore, these factors are propelling the growth of the home care product market.

Top Market Players

Various notable players operating in the market, include, Church & Dwight Co Ltd, Procter & Gamble, S.C. Johnson & Son Inc, Reckitt Benckiser Group PLC, Godrej Consumer Products Limited, Kao Corporation., Unilever, Henkel Adhesives Technologies India Private Limited, The Clorox Company, Elixir Home Care Pvt. Ltd, among others.

Key Developments:

• • In Oct 2021, Clensta, an IIT Delhi Startup, announced the launch of super Cleanser. It is the first Innovative Home Care Solution with Smart Concentrates to drive away from Single-Use Plastic Pollution and save households’ pockets.
  • In Aug 2021, Godrej Consumer Products Limited had announced the launch of its digital-first brands as it capitalized on the growing shift of packaged consumer goods to e-commerce.

Segments covered in the Report:

The global Home Care Products Market has been segmented on the basis of Product, Distribution Channel, and regions. Based on Product, the market is segmented into Household Care, Kitchen Care, Laundry Care, Bathroom Care and Others. Based on Distribution Channel, the market is segmented into Convenience Stores, Online Stores, Supermarket and Hypermarket and Others.

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Key questions answered in this research report:

• • At what pace is global Home Care Products Market growing? What will be the growth trend in the future?
  • What are the key drivers and restraints in Home Care Products Market? What will be the impact of drivers and restraints in the future?
  • What are the regional revenues and forecast breakdowns? Which are the major regional revenue pockets for growth in the global Home Care Products Market?
  • Which Product generated maximum revenues in 2020 and identify the most promising Product during the forecast period?
  • What is the various Distribution Channel of global Home Care Products Market and how they are poised to grow?
  • What companies are the major participants in this market and their business strategies, how does the competitive landscape look like?

Market Segmentation

Global Home Care Products Market by Product

• • Household Care
  • Kitchen Care
  • Laundry Care
  • Bathroom Care
  • Others

Global Home Care Products Market by Distribution Channel

• • Convenience Stores
  • Online Stores
  • Supermarket and Hypermarket
  • Others

Global Home Care Products Market by Region

• • North America Home Care Products Market (Option 1: As a part of the free 25% customization)
    • By Product
    • By Distribution Channel
    • US Market All-Up
    • Canada Market All-Up
  • Europe Home Care Products Market (Option 2: As a part of the free 25% customization)
    • By Product
    • By Distribution Channel
    • UK Market All-Up
    • Germany Market All-Up
    • France Market All-Up
    • Spain Market All-Up
    • Rest of Europe Market All-Up
  • Asia-Pacific Home Care Products Market (Option 3: As a part of the free 25% customization)
    • By Product
    • By Distribution Channel
    • China Market All-Up
    • India Market All-Up
    • Japan Market All-Up
    • Rest of APAC Market All-Up
  • RoW Home Care Products Market (Option 4: As a part of the free 25% customization)
    • By Product
    • By Distribution Channel
    • Brazil Market All-Up
    • South Africa Market All-Up
    • Saudi Arabia Market All-Up
    • UAE Market All-Up
    • Rest of world (remaining countries of the LAMEA region) Market All-Up

Major Players Operating in the Market Name (Option 5: As a part of the Free 25% Customization – Profiles of 5 Additional Companies of your Choice)

• • Church & Dwight Co Ltd
  • Procter & Gamble
  • C. Johnson & Son Inc
  • Reckitt Benckiser Group PLC
  • Godrej Consumer Products Limited
  • Kao Corporation.
  • Unilever
  • Henkel Adhesives Technologies India Private Limited
  • The Clorox Company
  • Elixir Home Care Pvt. Ltd