Laundry Detergent Pods Market is estimated to touch a value of USD 3,567.7 million by 2023, Displaying a strong CAGR of 5.04%: MRFR

Laundry Detergent Pods Market is estimated to touch a value of USD 3,567.7 million by 2023, Displaying a strong CAGR of 5.04%: MRFR

“\”Laundry Detergent Pods Market Research Report – Global Forecast till 2023\””
Laundry Detergent Pods Market Research Report: by Application (Residential, Commercial), by Distribution Channel (Store Based, Non-store Based), and Region – Global Forecast till 2023. The global laundry detergent pods market is estimated to touch a value of USD 3,567.7 million by 2023 by displaying a strong 5.04% CAGR over the forecast period (2018-2023), states Market Research Future (MRFR).

Laundry Detergent Pods Market Overview:

Laundry Detergent Pods Market is estimated to touch a value of USD 3,567.7 million by 2023 by displaying a strong 5.04% CAGR over the forecast period (2018-2023), states Market Research Future (MRFR). The market demand can touch 12,000.1 million units by 2023, exhibiting 3.59% CAGR over the forecast period.

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Development of new household care products for customers in urban areas is likely to bolster the market demand. The superior functionality and convenience offered by detergent pods over its liquid and powder counterparts can augur well for pod manufacturers. In addition, the inclusion of sweet-smelling fragrances in formulations is likely to drive market growth. Options of releasing different smells which ensures a long-lasting scent on fabrics have been devised by detergent manufacturers to entice customers in buying the product.

But high prices of detergent pods and environmental concerns associated with them are factors which can restrain market growth.

Segmentation Overview

By application, the laundry detergent pods market is segmented into commerical and residential. The commerical segment held a paltry 17.9% share, while the residential segment accounted for 82.1% market share in 2017. Both of the above-mentioned applications can experience massive growth owing to their use in households and the hospitality sector. By distribution channel, the market is segmented into store-based and non-store based. The store-based segment accounted for 72.1% share of the laundry detergent pods market, while the non-store based channel held 27.9% market share in 2017. The distribution channels can offer ample revenue to the market.

Regional Analysis

Region-wise, the laundry detergent pods market is segmented into North America, Asia Pacific (APAC), Europe, and Rest-of-the-World (RoW). Europe is projected to exhibit the highest growth rate among the regions owing to penetration of next-generation laundry products in the region. Agreements by detergent manufacturers with ecommerce companies to chart out new distribution channels and reach maximum consumers at a rapid pace is likely to boost the regional laundry detergent pods market. North America is predicted to be one of the lucrative regions for the market till 2023 owing to the need for innovative products in household care. In addition, detergent pods available in the region contain a triad of detergent, stain remover, and brightener appealing to consumers.

Competitive Analysis

Key manufacturers in the laundry detergent pods market include Church & Dwight Co., Inc. (U.S.), Henkel AG & Co. KGaA (Germany), Procter & Gamble Co. (U.S.), MaddieBrit Products LLC (U.S.), and Dapple (U.S.). Investments in research and development, novel product launches, and agreements are strategies followed by players to gain a competitive edge in the market.

Research Methodology

Data analysts of MRFR employ a selective body of methods which assist in a scientific and systematic approach to research of the given field of study. Primary methods such as interviews with decision makers of leading competitors in the market have been used along with secondary methods to provide a comprehensive view of the market scenario. Credible sources such as white papers, annual reports, and SEC filings have been used as a part of objective secondary research methods. Top-down and bottom-up approaches have been applied to the field of study to provide accurate estimation and validation of the market. Inquisitive and proficient data analysts exhaust every line of research based on pertinent parameters to offer intelligent inputs and a dependable understanding of the market in its entirety.

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Analysis Period

Base Year – 2017

Projection Period – 2018 to 2024

Market Valuation – USD Million

Market Volume – Million Units

For the scope of the report, the laundry detergent pods market is segmented in the following manner

Application

Residential

Commercial

Distribution Channel

Store Based

Non-store Based

Region

North America

Europe

Asia Pacific (APAC)

Rest-of-the-World (RoW)

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About Market Research Future:

At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.

MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by Components, Application, Logistics and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.

In order to stay updated with technology and work process of the industry, MRFR often plans & conducts meet with the industry experts and industrial visits for its research analyst members.

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