Detergent Market in India to Expand at 9.9% cagr till 2020
Research On Global Markets has announced the addition of a market research report titled “Detergent Market In India 2017” to their offering. According to the report, the detergent market in India is anticipated to expand at a compound annual growth rate (CAGR) of 9.9% during the 2015-2020 period, owing to rising consumer demand. The demand for hand wash detergents is high in India, since only 33% of the population use washing machines and require machine-wash detergents, and the rest of the population use hand-wash detergents for washing clothes.
The research report indicates that market demand for washing machines has recently expanded at an impressive rate in India. The growing penetration of washing machines is directly responsible for the increase in the demand for machine-wash laundry detergents. Moreover, the purchasing power of Indians has increased, which is encouraging many players in the detergent market to expand their network and upturn product penetration, especially in the rural market.
However, given the price of the products, laundry detergent manufacturers in India often face stiff competition. In addition, there is not much scope of product differentiation in the sector. Thereby, product differentiation, and high competition act as deterrents to the growth for the market players, according to Research On Global Markets.
Research On Global Markets tracks the performance of the major players in the detergent market in India. Laundry detergent companies like Hindustan Unilever Ltd. (HUL), Rohit Surfactants Pvt. Ltd. (RSPL), and Proctor and Gamble Home Products Ltd. (P&G) dominate the market, owing to high customer satisfaction both at national and regional levels. Apart from these players, Nirma, Jyothy Laboratories, Fena, and Reckitt Benckiser also operate in the market. Among the major laundry detergent brands, Ghari had the largest market share during the period of 2015-2017, followed by Surf, and Wheel.
Key highlights of this report:
- Market size & Growth Forecast (Value-Wise; FY 2015 - FY 2020e) and Current Market Scenario
- Player Wise Segmentation and Category Wise Segmentation
- Comprehensive analysis of the export and import numbers
- Key market opportunities
- Key growth drivers of the market
- Key deterrents to the growth of the market
- Analysis of the competitive landscape
This report has been formulated and designed with the purpose of giving businesses a concise understanding of the demand for detergent in India to determine the viability of the market, develop strategies based on the drivers, and to help brands identify competition and respond accordingly.