How to Start a Detergent/ Washing Powder Business. Profitable Manufacturing Industry for Starting your own Business.
The industry of Indian detergent is widely divided into 2 markets of organized and unorganized players. The major products retailed here are the detergent bars, detergent powder, and liquid detergent. A big portion of Indian detergent lies in the rural area where people are not much aware of the brands just bought from the general retails and are also highly price sensitive. Additionally, consumers can easily shift to another product if it is being offered at a lower price. Therefore, the competition of prize is a major factor in the Indian detergent market. Whereas, urban people have knowledge of the trends, brands, and fabric hygiene. Moreover, the urban population also buys detergents from multi-brand retails and E-commerce. Thus, the premium detergent products like washing machine powder and liquid detergents were manufactured targeting the urban audience.
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The Forecasted Market Growth of Detergent Industry
The market of Indian detergent was valued at INR 42,827.4 crore in the year 2019 and is expected to record the growth of 73,660.4 crores by the year 2027 and is expected to increase at a CAGR of 7.0% from the year 2020 to 2027. The detergent market comes under the segment of FMCG, which is in the maturity stage and also has growth potential. Although, the consumption in India is less compared to other Asian countries where the growth is increasing rapidly. The per capita detergent consumption in India is almost 2.7 kg per year, whereas places such as the Philippines and Malaysia account for the per capita consumption at 3.7 kg, and in the US it is around 10kg.
The gradual shift experienced in the sector from the mass segment to premium and the super-premium segment is going to bring another round of growth for the household detergent sector. The India fabric detergent market is expected to witness a CAGR close to 5% during the forecast period. In the laundry care industry, the detergent is growing from INR 57 billion in the year 2006 to INR 130 billion in the year 2018, recording a growth of 11% in the period.
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Detergent Trends in India with Key Growth Factors
Increasing income growth is one of the reasons that has led to high penetration of washing machines in India, in both urban and rural households. This has been a great opportunity for the laundry detergent industry.
Moreover, the new launches in the laundry industry are slanted towards high priced powder detergent and high-quality hand washes detergents targeting the urban consumers that are boosting the value growth for the overall detergent market. On the basis of pricing the organized detergent market is divided into 3 categories, like popular, mid-range, and premium. Whereas Hindustan Unilever dominates the high priced premium and mid-range category, Ghari dominates the popular low-priced category. In the year 2018, powder detergent type dominated the fabric detergent market in India. The demand for fabric liquid detergent is majorly driven by the ease in application and less wastage in comparison to detergent powders. The detergent powder category is also coming under increasing pressure from liquid detergents as it provides premium wash, particularly to delicate clothes at a similar cost. With consumers experiencing a high-quality wash at a similar price, they are shifting towards liquid detergent.
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Conclusion
The project report from NPCS named “Market Research Report on Detergent Industry in India (Market Size, Opportunities, Comparative Financial Analysis, Demand-Supply Scenario, Outlook and Forecasts Up to 2017” the market research report gives you a clear picture of the industry. The report also provides the forecasted trends and growth to give an idea of forecasted market tendency. The forecasted data is provided after secondary research and are also cross-validated through the interaction with the industry players. All the data provided in the report is taken from reliable sources.
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