The market prospect of daily chemical cleaning products is promising

At the recent American Cleaning Institute (ACI) annual meeting held in Orlando, Florida, the participants said that due to the strong innovation capabilities of daily chemical cleaning product manufacturers and the growing demand for products from consumers, the industry market outlook is still optimistic. This will strengthen suppliers' ability to withstand the economic crisis.

Manufacturers of daily chemical cleaning products predict that in 2023, the daily chemical cleaning product industry will face the challenges of inflation and consumer savings. But in general, there are growth opportunities in the market, and companies are confident that they can capture these opportunities through innovation.

At the meeting, Amita Gupta, vice president of BASF’s care chemicals business in North America, said: “Recent indicators show that the global economy is better than initially expected, which will stimulate market recovery. The outlook is optimistic. Although January was a bit weak for us, we are starting to see growth momentum.” Brad Pearson, global business director of cleaning supplies at Nouryon in the Netherlands, also pointed out that customers are optimistic that 2023 The global cleaning supplies market demand will grow steadily in 2020, partly due to the improvement of demand in China. Farouk Alam, global strategic marketing manager for Dow Chemical's personal and home care company, expects inflation to prompt consumers to be more cautious. But despite inflation, cleaning brand owners see opportunities for growth, especially in expanding product categories and growing consumer demand for innovative products, he said.

After 3 years of unusual experience, the daily chemical cleaning product market has returned to normal, which also increased the enthusiasm of investors. Participants reported that discussions about new formulations of household cleaning products were temporarily suppressed after the industry grapples with unprecedented supply chain disruptions last year. In 2020 and 2021, the new formula debugging laboratory of daily chemical cleaning products will be closed due to the outbreak of the new crown epidemic, and the focus will turn to cleaning products with health and hygiene attributes. Until 2023, the daily chemical cleaning product market will return to normal.

Nouryon is very interested in solutions that can significantly reduce its environmental impact, said Brad Pearson, global business director for cleaning products at Nouryon. Stewart Holt, Nouryon's strategic marketing manager for cleaning products, pointed out that for the global household cleaning products market, sustainability has always been a prominent factor driving market demand growth. Michal Ben Mayor, vice president of global perfume sustainable development at Firmenich, the world's largest fragrance raw material research and production company, said that the company's daily chemical cleaning products business mainly revolves around sustainability. Now, the company focuses on how to achieve a win-win situation while balancing performance and sustainable development.

The enthusiasm for innovation has come at an opportune time for the industry to drive sustainable development. Farouk Alam, global strategic marketing manager for personal and home care companies owned by Dow Chemical, said there is growing recognition that the next step towards sustainable development requires more drastic reform and innovation. "There's also a recognition that we can't do this on our own. We have to be more open and collaborative. There's also a consensus that consumers won't pay for sustainability. You have to put sustainability Sex is associated with some sort of performance benefit or consumer benefit."