Sep 19, 2018
Hand Dishwashing Products Gain Upper Hand in Market despite High Demand for Dishwashers, says Fact.MR
by Team Fact.MR
The global dishwashing products market is foretold to gain large attention as households shift from hand dishwashing to dishwashers to save time and energy. The factor of convenience could play a significant role in augmenting the demand in the global dishwashing products market. Since dishwashing machines are an easier way to wash and clean utensils, their demand is expected to increase in the near future due to busy lifestyles of people. The working population may be chiefly attracted to the global dishwashing products market, taking into account their lack of time because of heavy work schedules. All of these factors could work in the favor of the global dishwashing products market.
Fact.MR foresees the global dishwashing products market to attain a valuation of US$19.7 bn by the end of 2022. Despite the impact of positive growth factors, the global dishwashing products market could rise at a plodding growth rate.
However, manufacturers may get their hands around some lucrative business prospects as leading segments of the global dishwashing products market create opportunities. This could be evidenced by the remarkable progress of the liquid market for dishwashing products. The dishwashing liquids market is anticipated to achieve sales worth an over US$7.0 bn by the end of the forecast period 2017-2022. Although dishwashing liquids may secure a higher share of the global dishwashing products market, soaps and other offerings in solid form are projected to gain traction in the coming years.
By type of product, the global dishwashing products market is segregated into ancillary, machine dishwashing, and hand dishwashing products. According to market analysts, dishwashers or dishwashing machines could consistently gain high demand in the near future. Nevertheless, hand dishwashing products are forecast to bag a substantial share of the global market by the end of 2022. For a matter of fact, researchers expect hand dishwashing products to gain a slightly higher demand than dishwashing machines. This could be despite the more than one-third revenue share of the global dishwashing products market obtained by dishwashing machines. In order to improve features of dishwashing machines, companies are predicted to integrate sophisticated technologies.
By sales channel, the global dishwashing products market is classified into e-commerce, grocery store, convenience store, modern trade, and other retail formats. Online sales channels such as e-commerce are envisaged to gather pace in the global dishwashing products market. They could gain a larger share of the global dishwashing products market in the foreseeable future. Besides online channels, grocery stores are envisioned to draw higher sales in the global dishwashing products market. Sales in the global dishwashing products market could be positively influenced by the rising collaboration between manufacturers and retail chains. Nonetheless, modern trade outlets are also expected to achieve high sales in the coming years.
Manufacturers could cash in on the application of dishwashing products in both commercial and personal consumer sectors. The market competition for achieving higher sales of dishwashing products could be unique in each of these sectors. Increase in population size is anticipated to emerge as a powerful factor for the growth of the global dishwashing products market in the personal consumer sector. On the other hand, the commercial sector could be dependent on economic growth for improving the sales of dishwashing products. With a view generate profits, individual businesses are predicted to prioritize their effective marketing strategies and operational efficiency. Dishwashing products are highly demanded in both commercial and residential kitchens.
Economies of scale could provide a massive advantage to large corporations operating in the global dishwashing products market. Small corporations, however, are expected to focus on improving their customer service and offering specialized products to gain impetus in the global dishwashing products market.