Home Care Chemicals Market Size, Share, Industry Report 2032

Report Description

The global home care chemicals market size was USD 24.3 Billion in 2023 and is likely to reach USD 47.4 Billion by 2032, expanding at a CAGR of 7.7% during 2024–2032. The market growth is attributed to the ­­growing awareness for hygiene and increasing government initiatives.

Home care chemicals are one of the fundamental things, present in every household for activities such as cleaning and washing in kitchen and toilets. The rising demand for the surfactants, solvents, and additives is increasing the production and manufacturing of these chemicals. Hand sanitizers, toilet & washroom cleansers, and deodorants are examples of these substances. The Covid-19 pandemic has fueled up the market expansion significantly.

Hospitals and clinics rely on home care chemicals as disinfectants and cleaning agents to maintain a sterile environment. Similarly, food preparation facilities, such as restaurants and cafes, utilize home care chemicals to ensure a clean and hygienic environment. A range of home care chemicals is available, including air care, bleach, dishwashing agents, insecticides, laundry detergents, surface cleaners, and toilet bowl cleaners.

• In March 2023, Reliance Consumer Products Ltd. (RCPL), a leading FMCG company, has introduced a comprehensive range of home and personal care products, including toilet and floor cleaners, dishwashing bars and liquids, soaps, and laundry detergents. These innovative products will be widely available across all channels, including retail outlets, making them easily accessible to consume

Home Care Chemicals Market Dynamics

Major Drivers
Growing awareness for hygiene is driving the global home care chemicals market. Moreover, the increasing demand in the laundry care, surface cleaning, and dishwashing is expected to propel the global market in the coming years. Increasing product launch is boosting the global market significantly. Additionally, the rising government’s focus on healthcare and hygiene is fueling the global market.

Existing Restraints
Increasing usage of eco-friendly products is expected to hamper the global market. The use of harsh chemicals in home care products has raised concerns about their impact on the environment and human health. Moreover, the regulatory concerns for the approvals of the home care chemicals are expected to hamper the global market the global market during the projection period.

Emerging Opportunities
Growing demand for environmentally friendly and sustainable products, driven by consumer awareness and regulatory pressures. Furthermore, the increased demand for natural and organic products, driven by consumer preferences and health concerns. Additionally, development of advanced materials and formulations to improve cleaning efficiency, effectiveness, and sustainability.

Scope of the Home Care Chemicals Market Report
The market report includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.

Market Segment Insights
Regional Analysis
In terms of region, the global home care chemicals market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. Asia Pacific dominates the global market in 2023 owing to the large population and rising demand. The growing awareness about the importance of cleanliness and hygiene in the region, driving the demand for home care products. Furthermore, the increasing supply of labor and raw material manufacturers is driving the product base and eventually leading the growth of regional market. For instance,

• In April 2021, Godrej Consumer Products Ltd. (GCPL) has launched a new 2-in-1 liquid detergent, Ezee, in India. This innovative product is designed for use with both washing machines and buckets, offering consumers greater flexibility and convenience. By introducing this new product, GCPL aims to de-seasonalize its liquid detergent offerings and expand its presence in the regular cloth detergent segment.

The market in North America is projected to grow at a significant pace in the years to come owing to the well-developed economy of this region. The region has a well-developed economy with a high standard of living, driving the demand for premium home care products. Additionally, a relatively favorable regulatory environment, with fewer restrictions on the use of certain chemicals, making it easier for manufacturers to operate, is fueling the regional market.

Segment Analysis
Product Segment Analysis
Based on product, the home care chemicals market is divided into surfactants, solvents, pigments, additives, and others. The surfactants segment held the largest share in the global market in 2023 owing to the range of its applications. Applications of surfactants including laundry and floor cleaning is boosting the segment significantly. Surfactants lowers down the surface tension in water and control the molecules in the compound to interact with the oil and grease on the surfaces.

The solvents segment is anticipated to grow at a substantial CAGR during the forecast period due to the wide range of applications in home care products, including cleaning, degreasing, and disinfecting. Additionally, the increasing demand for the solvents due to its ability to dissolve and remove dirt, grime, and other substances from surfaces is boosting the segment.

Application Segment Analysis
On the basis of application, the global market is segregated into laundry/fabric care, hard surface cleaning, dishwashing, and others. The laundry/fabric care segment is anticipated to register a considerable CAGR in over the predicted period due to the powerful ingredients present in it. The laundry/fabric care products are highly used fir the removal of different salts, dusts, sweat, stains, from cloths and textiles, driving the segment. High surfactant has proper chemical ratios that are necessary in laundry or fabric detergents for the cleaning action.

The hard surface cleaning segment is projected to register a robust growth rate during the assessment years owing to the its range of use in commercial setting. Commercial settings such as hospitals, schools, and offices, use hard surface cleaning agents regularly driving the demand. Furthermore, the increasing government’s initiatives in maintaining the hygiene in hospitals and schools post pandemic is expected to propel the segment during the projected period.