Homecare Ingredients Market Set For Strong Growth Owing Tothe Use Of Bio-Based And Plant-Derived Homecare Ingredients
Homecare Ingredients Market Set For Strong Growth Owing Tothe Use Of Bio-Based And Plant-Derived Homecare Ingredients
The global Homecare Ingredients Market is driven by the growing demand for sophisticated and high-performance homecare products from consumers.

Homecare Ingredients Market Set For Strong Growth Owing Tothe Use Of Bio-Based And Plant-Derived Homecare Ingredients

Homecare ingredients are essential components used in the formulation of various homecare products such as detergents, cleaners, and disinfectants. Homecare ingredients provide cleansing, softening, and antibacterial properties to homecare products.

 The global Homecare Ingredients Market is estimated to be valued at US$ 19.91 Bn in 2023 and is expected to exhibit a CAGR of 7.1% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Homecare ingredients such as surfactants, enzymes, builders, and polymers are increasingly being used in homecare formulations to deliver superior cleaning and care of hard surfaces, fabrics, dishes, and overall hygiene. The global Homecare Ingredients Market is estimated to be valued at US$ 19.91 Bn in 2023 and is expected to exhibit a CAGR of 7.1% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market key trends:
The use of bio-based and plant-derived homecare ingredients is one of the key trends being witnessed in the global homecare ingredients market. Major homecare companies are focusing on developing bio-based ingredients to reduce reliance on petrochemicals and meet the growing demand for sustainable products from consumers. For instance, Croda International Plc offers various plant-based homecare surfactants such as sodium cocoyl isethionate and cocamidopropyl betaine. Such bio-based ingredients not only provide excellent performance in homecare formulations but also offer environmental benefits. This trend of adopting bio-based homecare ingredients is expected to continue in the coming years.


Segment Analysis

The global homecare ingredients market is dominated by the laundry detergents segment. This is due to the rising demand for laundry detergents in residential and commercial applications to effectively clean and sanitize clothes and linen. Growth in population and urbanization are expected to drive the demand for laundry detergents. Rising disposable income is also increasing the sales of laundry detergents.

Key Takeaways

The Global Homecare Ingredients Market Size is expected to witness high growth over the forecast period of 2023 to 2030. Rapid urbanization, rising middle class population and increasing disposable incomes in developing regions are major factors fueling the demand for homecare products and subsequently homecare ingredients.

Regional analysis
Asia Pacific region dominates the global homecare ingredients market and is expected to witness the fastest growth during the forecast period. Countries such as China, India, Indonesia and Vietnam are major markets driving the demand in the region. Rising population, improving living standards and economic growth are contributing to the increased consumption of homecare products in Asia Pacific.

Key players operating in the homecare ingredients market are Aarti Surfactants, Akzo Nobel N.V., Antozyme Biotech Pvt Ltd, ARC Surfactants, Ashland, BASF SE, Behn Meyer, Cargill, Incorporated, Clarient, Croda International Plc, and DuPont Nutrition & Biosciences. Major players are focusing on new product development and capacity expansion strategies to strengthen their market position.

Get more insights on this topic:

https://www.marketwebjournal.com/homecare-ingredients-market-market-size-and-share-analysis/

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