Latin American Detergent Market is Expected to Reach $28.08 Billion by 2025

Latin American Detergent Market is Expected to Reach $28.08 Billion by 2025

According to a report released by Grand View Research on the Latin American detergent market from 2018 to 2025, the demand for washing machines in developing countries in Latin America is rising, and the demand for washing powder in rural areas is increasing. The increase will drive the Latin American market to grow at a compound annual growth rate of 5.9% in the future. By 2025, the total value of the Latin American detergent market is expected to reach $28.08 billion.

The report shows that the competition in the laundry liquid market is increasingly fierce compared to washing powder. In developing economies, the ease of use and ease of dissolution of liquid detergents has led to a sharp rise in demand. For consumers, the use of liquid detergents to remove stains is more convenient than washing powder.

The Latin American market has introduced various regulations to regulate the safe use of detergent raw materials. Encouraged by increased consumer demand for biodegradable and environmentally friendly detergents, manufacturers are investing heavily in research and development and launching innovative products to meet consumer demand.

The home/dining detergent market is expected to achieve steady growth. As the population of Latin America increases, keeping home and business areas clean and healthy can effectively avoid the threat of disease and infectious diseases. These trends are likely to affect the market demand for detergent products.

Industrial applications are expected to become more attractive, and Latin America's investment in this area is also increasing. The large daily flow of people in hospitals and commercial areas has led to a surge in demand for proper sanitization, which will drive an increase in the demand for floor cleaners in the field to protect people's overall safety.

The report also released some important data. From 2018 to 2025, detergent product revenue is expected to grow at a compound annual growth rate of 5.8%. By 2025, the detergent industry revenue will reach 12.59 billion US dollars. The civil sector in 2017 is the main source of revenue in the detergent market. As people's awareness of the importance of family health continues to deepen, as of 2025, the civilian detergent market is expected to reach 60% of the total market share.

With the entry or establishment of many global and small-scale enterprises, the competition in the Latin American detergent market will be more intense. Companies in Latin America typically use mergers and acquisitions to increase market share and increase product mix. In addition to multinational brands such as Procter & Gamble, the main participating companies also have local cleaning product manufacturers. Among them, the Colombian detergent market is expected to reach US$2.74 billion by 2025 with the emergence of multiple brand and store-owned brand detergent manufacturers.