PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1290807
PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1290807
Washing Capsules Market size was valued at USD 7,560.4 Million in 2022, expanding at a CAGR of 10.7% from 2023 to 2030.
Washing capsules or laundry pods are concentrated forms of detergent. These are convenient for use, as the amount for using the detergents is pre-measured and formulated in these capsules. Users only have to add these capsules to a washing machine or water along with clothes.
Increased use of washing machines, a growing female workforce, the availability of simple financing alternatives for home electronics purchases, and increased consumer desire for environmentally friendly laundry care products are some of the key drivers propelling the growth of the worldwide washing capsules market. Other factors projected to fuel the growth of the washing capsules market during the forecast period include the quickly rising FMCG sector and expanding organised sales channels that concentrate on unexplored markets.Leading companies in the washing capsules market are implementing cutting-edge strategies for marketing their goods in order to affect consumers' purchasing decisions. Aside from that, they are also concentrating on consistently releasing new washing capsules with cutting-edge features and campaigns for raising awareness of these goods. All of these elements will support the market's rising demand for washing capsules.
In Additionally, The increasing use of e-commerce and digital marketing platforms, which enable marketers to increase their market share, has an impact on the global washing capsules market. The rising demand for washing capsules is mostly due to rising consumer spending on laundry care products.
Based on the applicaton, the household segment is expected to capture the largest market share over the forecast period. Manufacturers of washing machines, such as IFB, Whirlpool, and Panasonic, among others, advise utilizing washing capsules to extend the lifespan of the equipment. The concentrated liquid is devoid of components that take a long time to dissolve since they might accumulate and build a layer in various washing machine components, reducing the machine's efficiency. The adoption of products in the household segment has also been positively impacted by celebrity endorsements and promotions via social media influencers.
The North America is expected to dominate the market during the forecast period. The demand for regional products is being driven by an increase in customer desire for convenience, sustainability, and flexibility in the United States and Canada. One of the biggest consumers of washing capsules in the United States has been the hotel business. On the other hand, During the projection period, Asia Pacific is expected to grow at the quickest CAGR due to the expansion of the textile and service industries in developing nations like China and India. Hotels utilise upscale cleaning and sanitation supplies because they place a strong emphasis on providing world-class hospitality. Additionally, it is anticipated that the region's strong growth in e-commerce as a result of rising smartphone usage will create new opportunities.
In July 2022, Unilever launched a new generation of laundry capsules that are intended to reduce plastic packaging, decarbonize laundry, and conserve electricity. This carefully formulated cleaner has been optimized to provide superior cleaning performance in cold and short cycles and contains biodegradable active ingredients that are 65% derived from plant sources. The membrane of the redesigned capsules is completely biodegradable, the fastest-dissolving on the market, and made to leave no trace on clothing. Consumers can save up to 60% energy per use when using the new capsule in cold, brief cycles, which reduces its carbon footprint by 16% compared to the present capsules.
The scope of this report covers the market by its major segments, which include as follows: