The Global Laundry Capsules Market Growth Accelerated By Rise In Single Person Households

 

Laundry capsules, also known as single-use or unit-dose laundry detergent pods, offer an easy to use solution for laundry needs. They contain essential ingredients like surfactants and enzymes in a pre-measured, spill-proof capsule form. This eliminates the need to measure powder or liquid detergents and removes error and mess. Their compact size and spill resistance make them very convenient for smaller loads and for individuals living alone.

The global Laundry Capsules Market is estimated to be valued at US$ 4.79 billion in 2024 and is expected to exhibit a CAGR of 3.0% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market key trends:
The rise in single person households across developed nations has been a key driver propelling the adoption of laundry capsules. As per recent estimates, about 28% of all households in the US and 26% households in Europe now comprise of only one resident living alone. For these individuals, laundry capsules offer a small, easy to use solution suitable for their smaller load sizes without any wastage. Their compact packaging requires less storage space as well. This emerging lifestyle trend is expected to continue fuelling demand over the coming years.

Segment Analysis

The global laundry capsules market is segmented by form into non-bio capsules and bio capsules. The non-bio capsules segment holds the largest market share and is expected to remain the dominating sub-segment over the forecast period. This is majorly due to the availability of a wide range of product choices from various established brands in an affordable price range.

Key Takeaways

The Global Laundry Capsules Market Size is expected to witness high growth over the forecast period of 2023 to 2030. With projected growth at a CAGR of 3.0% between the forecast period, the market size is anticipated to reach US$ 4.79 Bn by 2024.

Regional analysis
The Asia Pacific region currently dominates the global laundry capsules market with the largest market share. Factors such as rising middle-class population, rapid urbanization, and increasing demand for convenient laundry products are expected to drive the market growth in the region. China holds the leading position in the region owing to high detergent powder consumption. North America is projected to witness significant growth over the forecast period.

Key players

Key players operating in the laundry capsules market are Tata Chemicals Limited, Solvay SA, FMC Corporation, Soda Sanayii A.S., and OCI Company Ltd. Tata Chemicals Limited is a prominent player in detergent capsules. It offers products such as Tide Naturals Capsules, Tide Pods, and Ariel Caps. Solvay SA is a global producer of soda ash globally and offers laundry capsules under the brand name Skip Ultra.

For More Insights, Read: https://www.newswirestats.com/laundry-capsules-market-trends-growth-and-regional-outlook-2023-2030/