Store - Household

There are many different types of household products, including cleaning products, laundry care products, air care products, and polishes and waxes. The cleaning products sub-sector is the largest, accounting for 36% of the overall market. The household products industry is driven by a number of factors, including population growth, urbanization, and the increasing disposable income of consumers.

The rise of e-commerce and online shopping, the popularity of subscription-based models for product delivery, and the increasing focus on sustainability and eco-friendly packaging. In addition, changing demographics are resulting in more single households and smaller families, which is impacting demand for certain types of products. The aging population will continue to drive demand for certain types of products, such as those that help with mobility or that are designed for seniors. Additionally, the growing middle class in developing countries is expected to create new opportunities for growth in the household products industry.

Emerging markets are expected to be a major growth driver for the industry over the forecast period.

The Global Household Products Market

In terms of product segments, the global market for household products is classified into laundry care, dishwashing, surface cleaning, air care, and general-purpose cleaners. Among these, the laundry care segment accounted for the largest share of the global market and is expected to maintain its dominance over the forecast period. This can be attributed to the increasing awareness about hygiene and growing health consciousness among consumers worldwide.

On the basis of distribution channels, grocery stores dominated the global household products market with a share of 45%. The trend is expected to continue over the forecast period on account of the wide product availability and discounts offered by these stores. Online retailing is also gaining popularity as a distribution channel for household products due to the ease of shopping and home delivery option.

Some of the key players operating in the global household products market are Unilever, Procter & Gamble, Henkel AG & Company KGaA, Reckitt Benckiser Group plc., Church & Dwight Co., Inc., S. C. Johnson & Son, Inc., and Clorox Company.

The US Household Products Market

The US Household Products Market is huge and growing. The average American spends over $100 per year on household products, and the total market size is over $200 billion.

There are many different types of household products, including cleaning supplies, laundry detergent, paper goods, and much more. The vast majority of Americans use some type of household product every day.

Household products are typically purchased at grocery stores, drug stores, mass retailers, and online retailers. The largest category of household product spending is cleaning supplies, which account for nearly 30% of all spending.

Laundry detergent is the second-largest category, accounting for about 15% of spending. Paper goods (including toilet paper, paper towels, and napkins) account for another 10%.

Other categories include pet supplies, personal care products, and home improvement supplies.

The US Household Products market is forecast to continue growing in the coming years. This growth will be driven by population growth and increases in spending power. The total market size is expected to reach $250 billion by 2025.

One of the major trends in the US Household Products market is the shift towards natural and eco-friendly products. Consumers are becoming more aware of the impact that their purchase choices have on the environment. As a result, they are increasingly choosing household products that are made from sustainable materials and that have minimal impact on the environment.

Another trend in the market is the growth of online retailing. More and more consumers are purchasing household products online, either through direct retailers or through marketplace platforms such as Amazon. This trend is being driven by the convenience and selection that online shopping provides.

There are several key drivers of growth in the US Household Products market. One of the most important drivers is population growth. The US population is expected to reach 350 million by 2050, which will create additional demand for household products.

Another key driver of growth is increases in spending power. As incomes rise, consumers will have more disposable income to spend on discretionary items such as household products.

Finally, another driver of growth is innovation. Household product manufacturers are constantly introducing new products and technologies that make it easier and more convenient to keep homes clean and organized. This innovation is driving consumer demand and leading to higher sales.

The European Household Products Market

The European household products market is forecast to grow at a CAGR of 3.5% from 2018 to 2023. The market is driven by the rising demand for eco-friendly and biodegradable products, the growing health consciousness among consumers, and the increasing disposable income.

However, the market growth is hindered by the declining birth rate in Europe and the high cost of raw materials.

The major players in the European household products market are Henkel AG & Co., Reckitt Benckiser Group plc, Unilever plc, Colgate-Palmolive Company, and Procter & Gamble Company.

The Asia-Pacific Household Products Market

The Asia-Pacific household products market is forecast to reach US$802 billion by the year 2025. This represents a compound annual growth rate (CAGR) of 4.4% from 2020 to 2025.

The Asia-Pacific region is expected to be the fastest-growing market for household products due to the rising population and urbanization, as well as the increasing disposable incomes of consumers. China and India are projected to be the major contributors to market growth in the region.

Some of the key trends driving market growth in the Asia-Pacific region include an increasing focus on health and hygiene, rising concerns about environmental sustainability, and a growing preference for natural and organic household products.

The household products market in the Asia-Pacific region is highly fragmented, with a large number of small and medium-sized enterprises (SMEs) operating in various product segments. The presence of many local players makes it difficult for international players to gain a significant foothold in this market.

The Middle East & Africa Household Products Market

The Middle East & Africa Household Products Market is forecast to grow at a CAGR of 5.8% during the period 2022-2025.

Household products are those that are used for cleaning and maintenance of the house such as detergents, soaps, cleaning agents, air fresheners, etc. The rising standards of living and changing lifestyles of consumers in the region are the major drivers for the growth of this market.

The Latin America Household Products Market

The Latin America Household Products Market is forecast to grow at a CAGR of 5.5% during the period 2016-2022.

The market is driven by factors such as the growing population, rising income levels, and the changing lifestyle of consumers in the region. The growth of the e-commerce industry is also expected to boost the demand for household products in the region. However, the high cost of raw materials and transportation is expected to restrain the growth of the market.

Key Players in the Household Products Industry

The household products industry is made up of many types of companies, each with their own unique offerings. The key players in the industry can be divided into three main categories:

1. Consumer packaged goods (CPG) companies: These are large and well-known brands that offer a wide variety of household products, from cleaning supplies to personal care items. Some of the biggest CPG companies in the industry include Procter & Gamble (P&G), Unilever, and Reckitt Benckiser.
2. Private label manufacturers: These companies produce generic or store-brand versions of household products for retailers to sell under their own labels. Private label manufacturers often have close relationships with retailers, allowing them to tailor their products to meet the specific needs of each retailer.
3. Store brands or private label products: These are the store-brand or private-label versions of household products offered by supermarkets, drugstores, and other retail outlets. Store brands typically cost less than national brands, but they may not always offer the same quality or variety.

Conclusion

The household products industry is forecast to grow at a moderate pace over the next decade. Innovation and new product development will be key growth drivers, as manufacturers look to tap into new trends and consumer needs. Sustainability will also remain a key focus for many companies in the industry, as consumers increasingly seek out eco-friendly products. With these factors in mind, we expect the household products industry to continue to evolve and grow over the coming years.