The global carpet cleaning products market size is expected to register revenue of USD 2.0 Billion over the forecast period, according to a new report by Million Insights. It is expected to grow with a 4.5% CAGR from 2019 to 2025. This growth can be attributed to the need for improvement of the aesthetic looks across home and workplaces.
Time and cost-saving features required for carpet cleaning is anticipated to fuel the market demand across the globe. Also, external factors like increasing population, rising per capita income and rapid urbanization play a major role in market growth. Moreover, attractive packaging and various marketing strategies are being implemented by the manufacturers to boost the market growth in upcoming years.
The liquid carpet cleaning product segment held the largest market share of 30.7% across the global market. This can be attributed to the usage of carpet absorbents which can be used with and without water. The spray segment is expected to register the highest CAGR of 4.9% from 2019 to 2025 owing to features like less time consumption and no expertise.
The hotels & restaurants segment of application held the largest share of around 47.2% in 2018. This can be attributed to the rising number of hotels, restaurants, and cafes across the globe. The residential application segment is expected to witness the highest CAGR of 4.8% from 2019 to 2025 owing to the need for cleanliness and hygiene among the consumers.
North America held the largest share of around 51.8% in the global carpet cleaning products market due to the rising trend of carpet flooring across countries like the U.S. and Canada. Asia Pacific is expected to witness the highest CAGR in the global market. Moreover, external factors like increasing population and rapid urbanization are paving way for market growth.
The market includes key manufacturers like Reckitt Benckiser Group PLC; Zep, Inc.; Tesco.com; Acdoco Ltd.; Tesco.com; Cleancare Australia and Sprayway Inc. They are constantly engaged in mergers, acquisitions and product development to boost the sale of their products. They are also majorly focusing on producing products that have natural or organic ingredients.
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Further key findings from the report suggest:
• The liquid product segment held the largest market share of 30.7% in 2018.
• The hotels & restaurants segment of application held the largest share of around 47.2% across the global market.
• The region of Asia Pacific is anticipated to witness the highest CAGR of 5.3% from 2019 to 2025.
Million Insights has segmented the global carpet cleaning products market on the basis of product, application and region:
Carpet Cleaning Products Product Outlook (Revenue, USD Million, 2015 - 2025)
Carpet Cleaning Products Application Outlook (Revenue, USD Million, 2015 - 2025)
• Hotels & Restaurants
Carpet Cleaning Products Regional Outlook (Revenue, USD Million, 2015 - 2025)
• North America
• Asia Pacific
• Central & South America
• Middle East & Africa