FILIP HOFFMANN-HAEUSSLER
Euromonitor International, London, United Kingdom

Abstract

The home care industry’s enduring growth defies uncertainty due to its essential role in daily life. Universally relevant, home care transcends income, driven by hygiene and quality of life. Private label ascends during economic challenges, reflecting prudent spending habits. Industry leaders invest in R&D to distinguish their products, mitigating migration to lower-priced options. Sustainability emerges as a vital solution, spurred by regulations and advancements in energy-efficiency. Amid energy cost spikes, energy-saving solutions take center stage. Cold wash gains traction for its performance and efficiency. The confluence of pricing, sustainability, and consumer evolution will shape the industry going forward.

THE UNIQUE NATURE OF THE HOME CARE INDUSTRY
The home care industry has been witnessing growth for a considerable time, thriving even in uncertainty, whether economic or political. The industry’s relative immunity to external factors can be ascribed to the metronomic nature of its products as an essential part of consumers’ everyday lives.

Consumption of home care while certainly income related has never been particularly driven by income. This is interesting as it means that cleaning is universal; i.e. everyone on the planet has access to a cleaning product, whether this is hand made from local ingredients, a multi-purpose bar of soap used for everything from washing clothes to washing hair, or branded products found in modern retail channels.

Home care is therefore ubiquitous and fulfils a basic human need, which falls between the many stools of health, hygiene, quality of life as well as self worth and the broader consideration of family. When stacked against these core drivers, income plays an important but far from central role. For this reason, income-based forecasts, although useful in seeing how tre ...