The Kline (market research and management consulting company) report ‘Ingredients for Household, Industrial, and Institutional Cleaning Applications’ about professional cleaning solutions shows that some markets have great growth rates during the forecast period from 2014-2019.
As it is described in an article in ECJ, while mature markets like Europe and the United States represent a large portion of the total market sales, accounting for over USD 11 billion, developing markets – particularly China – are gaining market share.
The Southeast Asia market is expected to grow at a compound annual growth rate (CAGR) of around 4.7 per cent through to 2019.
India is forecast to post the strongest growth of almost 13 per cent over the same time period.
Kline says as the market continues to focus on high efficacy, milder, and eco-friendly products, sales of products such as enzymes, alkyl polyglucosides, and others will continue to grow.
Enzymes are expected to take advantage of the move towards ingredients with higher biodegradability, but also towards ingredients providing a better performance to cleaning products.
This means the enzymes market is expected to grow almost twice as fast as the market average, at 7.3 per cent. In Europe and the United States, consumption of enzymes is additionally boosted as their penetration increases in the I&I segment during the forecast period from 2014-2019.