Published on : Sep 09, 2016
ALBANY, New York, September 09, 2016: The research report, titled “Research Report on Home Care Product Industry in China, 2016-2020,” has been added by ResearchMoz.us to its ever-growing online directory. The report contains an extensive assessment of the home care products available in the China market and the shifting demand patterns. The report segments the products available in this market and provides a SWOT analysis of the segments. This market measurement tool is exceptionally useful for determining strengths, weaknesses, opportunities, and threats impacting the segments. Furthermore, the competitive landscape has been studied using the Porter’s five forces analysis that evaluates the bargaining power of suppliers and consumers and the intensity of the competition. Thus, the report provides the readers a 360-degree view of the market and its critical elements.
According to the research report, the home care product industry in China is anticipated to grow at a CAGR of 7.7% over the forecast period of 2016 and 2020. The various products available in the China home care products industry are used for cleaning and conserving furniture, clothes, floor, bathroom, and kitchen. The industry has also been successful in commercializing products for improving household environment such as air fresheners. Players such as Blue Moon, Unilever (China), Liby, Nice, and Procter & Gamble (China) hold a share of more than 50% in the overall industry. The competitive landscape is exceptionally intense in the overall industry with over a thousand products in the market and the possibility to new introductions in the coming years.
The growth of the home care product industry is primarily driven by female consumers due to their bigger role in running households. Furthermore, the rise in the number of working women has led improved disposable incomes, which, in turn, has increased the uptake of home care products in China. Students are also augmenting the demand for laundry detergents as it is a necessity to maintain clothes while living outside homes. They are also responsible for the growing consumption of dish washing agents and fruit washing soaps.
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The improving economy of China is a remarkable growth driver for the home care product industry. This industry is also receiving an impetus from the changing perceptions of hygiene and cleanliness amongst the overall population in China. The research report observes that the consumers in the China home care product industry prefer effective and strong cleaning agents that do not cause harm to the residents. The wide range of fragrances available in the market are also luring in consumers to try out products.
The booming commercial segments such as offices and restaurants are also opting for home care products to maintain excellent levels of sanitation and hygiene. Thus, the demand for soaps and detergents in both these sectors is on the upswing. Researchers predict that increasing investments in manufacturing less harmful home care products with appealing fragrances will favor the market’s growth in the coming few years.
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