The global laundry detergent pods market size is estimated to expand to USD 3,567.7 million by 2023, asserts Market Research Future (MRFR). It can exhibit 5.04% CAGR over the forecast period (2018-2023) to reach this benchmark. Its value in 2017 was USD 2,664.3 million.
Investments in research and development by detergent manufacturers to create and manufacture innovative products for consumers is expected to work in favor of the laundry detergent pods market. The dissolvable nature of the pods coupled with its functional benefits have appealed to consumers. In addition, their compatibility with washing machines is a plus for the market growth. Integration of new and aromatic fragrances which can remain on fabrics can drive market demand. Furthermore, the need for convenient solutions by consumers in urban areas in developing countries is expected to open up expansion opportunities for the laundry detergent pods market till 2023.
Environmental concerns regarding these pouches can act as growth deterrent. The unsafe nature of these pods for children owing to unseemly challenges taken by them has led to manufacturers taking preventive measures to safeguard their health.
The laundry detergent pods market encompasses industry leaders by the names of Church & Dwight Co., Inc. (U.S.), Henkel AG & Co. KGaA (Germany), Procter & Gamble Co. (U.S.), Dapple (U.S.), and MaddieBrit Products LLC (U.S.).
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The laundry detergent pods market is segmented by application and distribution channel.
By application, the residential segment can generate close to USD 2,945.9 million by 2023 for the laundry detergent pods market.
By distribution channel, the store-based segment can generate USD 2,527.1 million in revenue for the laundry detergent pods market by 2023.
By geographical locations, the laundry detergent pods market includes North America, Europe, Asia Pacific (APAC), and Rest-of-the-World (RoW). North America held close to 55.2% market share in 2017, followed by Europe (27.6%), APAC (13.7%), and RoW (3.6%).
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