With the outbreak of COVID-19, growing concerns over health and hygiene led to surging demand for household and personal care products. Rapid digitalization of operations, e-commerce sales, and entry to new markets have allowed these companies to profit substantially. Rising demand has incentivized these companies to launch quality and eco-friendly products. The global household care market is expected to grow at a 1.5% CAGR to reach $127.63 billion by 2026.
In addition, users’ growing interest in natural, organic, and chemical-free skincare, makeup, haircare, and fragrance products and emerging beauty trends have been driving the personal care segment’s growth. The global personal care market is expected to grow at a 10.6% CAGR to reach $322.69 billion by 2025. Despite rising inflation, the inelastic demand for these products should help household and personal care products stay afloat.
