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Global carpet cleaning products market - introduction of differentiated products to boost growth through 2022
Global technology research and advisory company Technavio has published a new market research report on the global carpet cleaning products market from 2018-2022.
The company projects the global carpet cleaning products market to post a compound annual growth rate of over 3% during the forecast period and says that the introduction of differentiated products along with innovative packaging are key emerging trends to drive the market.
The inclination towards hygiene and cleanliness is a key driver, which is expected to positively impact market growth during the period 2018-2022. Carpets require high maintenance such as deep cleaning and regular vacuuming as they are susceptible to allergens such as dust mites, mould and pet dander, acknowledge the report's writers, who add: "To eliminate bacteria contamination from carpets, vendors have introduced carpet cleaning that keeps the carpet floor clean."
They go on to say that one of the most important aspects of carpet cleaning is efficacy, hence packaging needs to showcase the quality and efficiency of products. The development of new formulas, in innovating and informative packaging help to improve the overall customer experience. Smaller bottles use less space and ease the process of carrying, storing, using and handling of the products.
According to a senior analyst at Technavio, "The new line of 2X concentrated formula, incorporating optimised ergonomics and dispensing features which improve the overall consumer experience, will lead to the growth of the market."
This market research report segments the global carpet cleaning products market by end-user (commercial and residential), and key regions (the Americas, APAC, and EMEA).
The commercial end-user segment accounted for over 85% of the market in 2017, followed by the residential segment. However, with increasing emphasis on hygiene, the residential segment is expected to witness a growth in its market share over the forecast period.
In 2017, the global carpet cleaning products market was led by the Americas which accounted for over 43% share followed by EMEA and APAC respectively. APAC is expected to witness an increase in its market share over the forecast period, while the Americas and EMEA will see a corresponding decline in their market shares by 2022.
The report is available at a discounted price for a limited time.
7th June 2018