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/
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