Increasing consumer spending on fabric care is creating attractive opportunities, particularly in developing economies such as India, China, Brazil, the UAE, Russia, and Australia.
DUBAI, UAE / ACCESSWIRE / March 8, 2021 / Future Market Insights: FMI states in its recent study that the wrinkle release spray market will record an impressive CAGR of r% in the forecasted period 2020-2030. Demand for wrinkle release spray is anticipated to continue surging because The laundry sector is experiencing strong year-on-year growth.
"The global wrinkle release spray market is quite fragmented exhibiting the presence of a large number of players. Companies operating in the market are focusing on expanding their online presence." says the FMI analyst.
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Wrinkle release spray Market - Important Highlights
- Increasing numbers of producers are likely to focus on improving their online presence
- The scented wrinkle release sprays segment is projected to show continuous growth and account for three-fourths of the value-added share over the forecast period
- Conventional wrinkle release sprays and their use in the fabric care industry are expected to remain strong over the period
- The North America market, led by the U.S. is expected to make a substantial contribution to the overall sales growth
Wrinkle release spray Market - Drivers
- Rising customer spending on fabric treatment is likely to generate a lucrative opportunity in the coming years.
- The rise in the hospitality and tourism sector is driving the growth of the Asian market.
- Ease of applicability is a major factor fuelling the market for wrinkle-release sprays.
Wrinkle release spray Market - Restraints
- The rapid change in consumer needs is compelling the manufacturers to keep up with the latest technologies which are hindering the growth of the market.
- Less social recognition may serve as a restriction and will impede development.
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COVID-19 Impact on Wrinkle release spray Market
Consumers remained home-bound and self-quarantine for much of the 2020 timeframe during the prolonged lockdown around the world. Home culture work has become more popular than ever before, and virtual communication has emerged as the most trusted and secure means of communication. As people around the world stayed indoors, the use of clean, pressed, and wrinkled-free clothes were restricted, as people preferred to wear casual clothes when working from home.
Competitive Landscape
Besides adopting different strategies for expansion, the key market players are therefore focusing on product launches. Also, the industry has shown significant investment in a product launch. For example, B&M sells crack release sprays to save time on ironing.
Some of the leading companies operating in the market are Procter & Gamble Co., Kao Corporation, Unilever PLC, Faultless, Grandma's Secret Products, Cold Iron.
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About the Study
The study offers readers a comprehensive assessment of the wrinkle release spray market. Global, regional, and national-level analysis of the latest trends influencing the market is covered in this FMI report. The study provides insights based on product type (scented, unscented), an sales channel (Wholesalers/Distributors, Hypermarkets/Supermarkets, Multi-Brand Stores, Exclusive Stores/ Franchise Outlets, Departmental Stores, Independent Small Stores, Online Retailers) and across key regions (North America, Europe, China, Asia Pacific, Middle East & Africa).
Table Of Content
1. Executive Summary
1.1. Global Market Outlook
1.2. Demand Side Trends
1.3. Supply Side Trends
1.4. Product Evolution Analysis
1.5. FMI Analysis and Recommendations
2. Market Overview
2.1. Market Taxonomy
2.2. Market Definition
3. Key Market Trends
3.1. Key Trends Impacting the Market
3.1.1. Rising Concern About The Spread of Coronavirus Have Surge in Demand for Hygiene Products
3.1.2. Fabric Care Companies Moving Towards Plant-based Ingredients
3.1.3. Growing Trend of Laundry on Demand (LOD)
3.1.4. Increase Focus on the Customer Experience
3.1.5. Rise in Trend of Go Green
3.1.6. Growing Popularity of Commercial Laundry
3.1.7. Growing Demand For Personalized Service In Fabric Care Service Industry
3.1.8. Trend of Growing Consciousness About Grooming Among Consumers
3.1.9. Demand for Chemical Free Fabric Care Products
3.1.10. Wrinkle Release Spray- An Alternative to Ironing For Removing Wrinkles & Freshening Fabrics
3.1.11. Significant Research and development Activities Taking Place Related To Fabric Care Products
3.1.12. Marketers Reach Out To Millennial
3.1.13. Impact of Covid-19 on The Market
3.1.14. Growing Consumer Awareness of Environmental Hazards Creating Demand For Natural Products
3.1.15. Product Premiumization
3.1.16. Consumers Selecting for At-home Services, Using e-Commerce
3.1.17. Innovative Packaging- A Key To Brand Differentiation For Fabric Care
3.1.18. Rise in Product Trial Ups Consumption
3.1.19. Globalization Impacting Lifestyles
3.2. Product Innovation Trends
3.2.1. Companies Increasingly Spending on R&D and Stepping Up Innovation
3.2.2. Growing Consumer Interest in Multifunctional Products
3.2.3. Prominent Players are Now Diversifying Into other Profitable Segments
3.2.4. Evolution in Product Design
3.3. Evolution of Fabric Care Industry
3.3.1. Key Developments Roadmap
3.3.2. Product Launches
3.3.3. Acquisition & Mergers
3.3.4. Expansion
3.4. Future Prospects of Fabric Care Industry
3.4.1. Factors Fuelling Growth
3.4.2. Influx of Brands
3.4.3. Increasing Demand of Herbal/ Natural Products
3.4.4. Innovative Distribution & Marketing Strategies
4. Brand Mapping Analysis
4.1. Price v/s Product
4.2. Value for Money
4.3. Top of Mind Wrinkle Release Spray Brands
4.4. Brand Portfolio-by Key Players
4.5. Brand Loyalty Mapping
4.6. Usage Pattern Overview
5. Impact of Covid-19 on The Global Market
5.1. Covid-19 The Situation Now
5.2. The Effects of National Lockdown on Various Countries
5.3. Scenarios For The Economic Impact of The Covid-19 Crisis
5.4. Industries Affected By Coronavirus Outbreak Worldwide
5.5. Projected Recovery for Hardest Hit Sectors
5.6. Coronavirus Impact on The World of Work
5.7. Impact of Covid-19 on Manufacturing Industry
5.8. Manufacturing Purchasing Managers Index, 2020
5.9. Impact of Covid-19 on Supply Chain Worldwide
5.10. Planning & Managing During Covid-19 Pandemic
5.11. Upcoming Pointers Business Leaders Should Focus On
6. Covid-19 Impact On Retail Industry
6.1. Coronavirus Impact Matrix
6.2. Consumers View Travel and Tourism as Having High Virus Risk
6.3. Sales Increased Dramatically Across Most Categories; Paper Products, Home Care and Frozen Foods Spiked in all Countries
6.4. Europe Consumers Impact - Winning and Losing Segment Spending
6.5. Consumers Shifting Toward Spending Online Sales Channel
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About Future Market Insights
Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, the global financial capital, and has delivery centers in the U.S. and India. FMI's latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.
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