Sponge and Scouring Pads Market will Witness Consistent Growth; Driven by Rising Demand for Effective Kitchen Cleaning Solutions, says FMI
Demand for efficient kitchen cleaning products in both commercial and household sectors is on the rise, and spurring sales of sponge and scouring pads. Future Market Insights (FMI) in its recent report revealed that market is poised to grow over 4% between 2020 and 2030. FMI studied 12 factor that influences sponge and scouring pads purchase and reached to the conclusion.
Sponge And Scouring Pads Market
A recent market study published by Future Market Insights on the sponge and scouring pads ...
The report offers an executive level blueprint of the market, uncovering the hidden opportunities and potential threats. According to FMI, commercial segment will account for the lion’s share of sale witnessed in the market.
However, growth witnessed in the market is expected to be stunted owing the unprecedented COVID-19 outbreak, which compelled governments to impose strict curbs. As restaurants and food service chains remain shuttered, the sales of sponge and scouring products will significantly decelerate. Nonetheless, FMI forecasts the demand from the household segment to rise steadily helping the market stay afloat.
Driven by the rising demand for efficient methods of home cleaning, manufacturers are expected to focus on innovations. Despite limited scope of product differentiation they are expected to research on various materials to make scouring pads and sponges suitable for various cleaning purposes.
FMI offers in-depth insights into the global sponge and scouring pads market. Some of these are:
- Overall demand growth is projected to remain over 4% till 2030
- Among materials used steel will remain more popular. Early entry has enabled steel-based sponges and scouring pads to penetrate deeper into the market
- Polymer-based scouring pads are cheaper than their steel based counterparts. Higher demand for polymer scouring pads is likely especially for cleaning more delicate surfaces
- Kitchen utensils will account for higher share in the market among applications
- Household spending on sponge and scouring pads reported to increase in first half of 2020
- Online sales of sponge and souring pads reported three-fold increase in H1 2020 comparing against H1 2019
- Regionally, North America is expected to remain highly lucrative market for sponges and scouring pads
“Significant growth is likely in the household segment. The rising population and higher focus on maintaining clean environment in homes will drive demand in the category. The market will particularly gain due to rising middle-class population and their willingness to spend on efficient cleaning solutions,” said a lead analyst at FMI.
Who is winning?
Global sponge and scouring pads market is largely fragmented with a handful of companies have worldwide reach. Though, in terms of market value, these global corporations lead the share cart. Almost three fourth of the companies operating in global sponge and scouring pads market operates locally. Since, it is a low complexity and low valued products all such small and large companies have sponge and scouring pads in their portfolio as a subset offering of a large SBU.
Some of the leading companies operating in the sponge and scouring pads market are The Clorox Co., Reckitt Benckiser Group Plc, The Procter & Gamble Co., The Libman Co., and Unilever Group, The Crown Choice; Scrub-It, O-Cedar, 3M, Weiman Products, LLC.., Amway, among others.
They are more likely to focus on expansion of their ecommerce presence to reach wider base of consumers. Besides this, they will continue investing in product launches and advertising campaigns to gain competitive edge.
Get Valuable Insights into Sponge and Scouring Pads Market
Future Market Insights, provides an unbiased analysis of the global sponge and scouring pads market in its new offering, giving historical demand data (2015-2019) and forecast statistics for the period from 2020-2030. The study divulges compelling insights into the market. In terms of type, the market can be segmented into sponges, sponge scrubbers, and hand pads. Based on distribution channel, the market can be classified into online and offline. In terms of raw material the market can be bifurcated into steel and polymer. Regionally, the market covers North America, Latin America, Europe, East Asia, South Asia, Oceania, and the Middle East and Africa.
About Consumer Products division of FMI
Expert analysis, in-depth insights, and strategic recommendations - the Retail & Consumer Products team at Future Market Insights helps clients from all over the globe with their unique business intelligence needs. With a repertoire of over 500+ reports, the team has analyzed the consumer goods industry lucidly in 80+ countries for over a decade. We provide end-to-end research database on retail & consumer products market and consulting services; reach out to explore how we can help.
About Future Market Insights (FMI)
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, and has delivery centers in the UK, 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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