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Market Analysis Of Household Cleaning Products

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Marketing
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George Washington University
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Running head: MARKET ANALYSIS OF HOUSEHOLD CLEANING PRODUCTS 1
MARKET ANALYSIS OF HOUSEHOLD CLEANING PRODUCTS
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MARKET ANALYSIS OF HOUSEHOLD CLEANING PRODUCTS 2
MARKET ANALYSIS OF HOUSEHOLD CLEANING PRODUCTS
Industry Analysis
The global household cleaning product sales continue to increase steadily over the years.
In 2017, cleaning products generated US$28.61 billion, which grew to 29.87 in 2018 and then
31.19 in 2019 (Conway, 2020). The global market for cleaning products is projected to reach
$52.4 billion in 2020 and $68.6 billion by 2027, rising at a CAGR of 3.9 percent ("Global
Industrial Products Industry," 2020). In 2020, the US has a 27 % share in the global market
for household cleaning products, accounting for $14.1 billion. The US market is estimated to
grow at 7.2% CAGR between 2020 and 2027. China, the global second-largest market for
cleaning products, is expected to grow at 7.2% CAGR to reach $14.8 billion by 2027. The
cleaning products market size is likely to increase by $15.7 billion between 2020 and 2024. Its
growth momentum will increase during the projected period due to the constant annual growth.
Notable trends are seen in subsectors of the household cleaning products industry. The
sanitation and janitorial cleaning segment is estimated to grow at 5.1% CAGR to reach $21.4
billion by 2027 ("Global Industrial … Products Industry," 2020). The kitchen and cleaning
products subsector is expected to grow at 3.4 CAGR for seven successive years. The
industrial/institutional cleaning agents are projected at $14.1 in 2020. The industrial/technical
cleaning subsector is forecasted at 2.8% CAGR to reach $9.6 billion by 2027.
Competition in the cleaning products market is intense. Several large players in the
cleaning products market command a significant market share. Formular 409, which is owned by
Clorox, has a 2.15% share. Some of the most notable players with significant market share
include Church and Dwight, with a market share of 4.6%, Colgate Palmolive 14.66%, and
Ecolab 3.07%.

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Running head: MARKET ANALYSIS OF HOUSEHOLD CLEANING PRODUCTS MARKET ANALYSIS OF HOUSEHOLD CLEANING PRODUCTS Name: Institution affiliation: Date: 1 MARKET ANALYSIS OF HOUSEHOLD CLEANING PRODUCTS 2 MARKET ANALYSIS OF HOUSEHOLD CLEANING PRODUCTS Industry Analysis The global household cleaning product sales continue to increase steadily over the years. In 2017, cleaning products generated US$28.61 billion, which grew to 29.87 in 2018 and then 31.19 in 2019 (Conway, 2020). The global market for cleaning products is projected to reach $52.4 billion in 2020 and $68.6 billion by 2027, rising at a CAGR of 3.9 percent ("Global Industrial … Products Industry," 2020). In 2020, the US has a 27 % share in the global market for household cleaning products, accounting for $14.1 billion. The US market is estimated to grow at 7.2% CAGR between 2020 and 2027. China, the global second-largest market for cleaning products, is expected to grow at 7.2% CAGR to reach $14.8 billion by 2027. The cleaning products market size is likely to increase by $15.7 billion between 2020 and 2024. Its growth momentum will increase during the projected period due to the constant annual growth. Notable trends are seen in subsectors of the household cleaning products industry. The sanitation and janitorial cleaning segment is estimated to grow at 5.1% CAGR to reach $21.4 billion by 2027 ("Global Industrial … Products Industry," 2020). The kitchen and cleaning products subsector is expected to grow at 3.4 C ...
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