The economic downturn proved challenging for home care, with cheaper brands offering strong innovations at lower prices triggering a round of price promotion, making it difficult to drive value growth. Consumer demand in emerging markets is increasingly reflecting that of developed markets as they seek more specialised products. Going forward, brands perceived as good value for money, with a regionally diverse presence, are expected to drive strong growth.
Growth in Western markets is almost entirely dependent on successful product launches and marketing campaigns, due to market maturity. Despite these difficulties, Western markets remain key, as consumers have higher spending power. North America and Western Europe combined are projected to post over US$1.4 billion in absolute growth between 2010 and 2015.
Home Care Market
Emerging markets are growing fast, as increasing incomes prompt consumers to expand their cleaning regime and to embrace more sophisticated products. Consumers are becoming increasingly savvy, and manufacturers are having to adapt their products to meet regional preferences.
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Published: March 2012
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