In 2022, Southeast Asia accounted for 19% of home care sales in Asia Pacific, second only to China. It is a dynamic region, which offers immense growth potential. Southeast Asia is home to high growth economies such as Indonesia, Philippines and Vietnam which, as per Euromonitor International’s data, are expected to grow faster than China over the forecast period.
Euromonitor International forecasts that Latin America will be the region with the highest rate of inflation in 2022 at 15.1%. Consumers are generally expected to exhibit increasingly price-sensitive behaviour when shopping for home care products. They are expected to purchase in bulk and look for promotions and discounts more frequently.
Returning to the Washington D.C. area in 2022, Cleaning Products US will bring together leading representatives from across the home and personal care sector - including household and cleaning products manufacturers, chemical suppliers, regulatory bodies, and retailers...
Only 55 companies have remained on the Fortune 500 list continuously since its inception in 1955. In that year, GM was the biggest company in the world. 70 or so years later, Wal-Mart, a discount store, is the biggest, while GM filed for bankruptcy in 2009. A generation ago, a “Kodak moment” referred to a picture-worthy moment. Today, it is widely used to describe companies that failed to adapt to market disruptions. Clearly, companies need to innovate their products and business models to survive.
For 6 years, Cleaning Products Latin America has been the leading conference that brings together experts and decision makers from across the cleaning products supply chain to discuss trends and challenges, growth opportunities, and new ideas that are inspiring and progressing continued improvement and innovation within the commercial, household, and personal care sectors in Latin America.
Home care has traditionally been exposed to price sensitivity and downtrading in economic uncertainty. The rise of private label in the global financial crisis of 2008 showed that consumers are quick to rationalise their expenditure when faced with financial tensions. However, home care and its chemistry have been central in providing consumers with hygiene and safety during the Coronavirus (COVID-19) pandemic. Many of the cleaning behaviours will remain, supporting a positive growth outlook.