Home care is a broad and varied industry with high penetration rates right across the income spectrum. Regardless of its great variety there are a number of truly global trends which we can identify as manufacture led, socially led, economically led and demographically led. The following document forms a review of our top ten.
A positive correlation is found between income and home care spending per household as indicated by the 2% decrease in disposable income of Western Europe households and the simultaneous 1.5% decrease of home care expenditure over 2011-2016.
While at global level, couple with children remains the dominant household type, in Europe, single-person households outgrew couple with children in 2009-2010 for the first time. Due to urbanisation, age of first marriage being pushed back and high disposable income enabling the young population to live by themselves, the number of single-person households is expected to grow the fastest among all household types in both Western and Eastern Europe.
Rapid urbanisation and growing disposable incomes have led to a shift from traditional to modern retailing in Asia Pacific and the Middle East and Africa, allowing international brands to more easily penetrate fast-growing markets. Hygiene concerns have also triggered home care sales as global brands have joined forces to raise awareness around the issue and to develop affordable cleaning solutions.
As Asia Pacific and the Middle East and Africa largely comprise emerging markets, rising population and GDP per capita are characteristic positive drivers for home care players in these markets. Moreover, habit persistence of consumers’ willingness to spend more on premium and added-value cleaning solutions will contribute to sales growth in these regions.
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