Press Release

A USD 1.73 Billion Saudi Arabia Home Care Market to Flourish at a CAGR of Around 6.18% During 2024-30

The Saudi Arabia Home Care Market size is valued at around USD 1.73 billion in 2024 and is anticipated to grow at a CAGR of about 6.18% during the forecast period of 2024-30, cites MarkNtel Advisors in the recent research report. The home care industry in Saudi Arabia is growing & flourishing due to increasing urbanization. Cities continue to grow through new residential developments and infrastructure and as a result, home care solutions are in greater demand. A growing population in urban areas due to rapid urbanization creates a demand for convenient home care products to maintain hygiene and cleanliness with efficient cleaning agents. Sustainable and eco-friendly home care products that meet the needs of urban households are in high demand as the focus on health and hygiene increases. Thus, the inclination towards eco-friendly solutions is changing market dynamics and ultimately augmenting the size & volume of the industry.

A significant growth opportunity exists in the Saudi market with the rising living standards of people of Saudi Arabia as an effect of rapid growth in smart city development. Moreover, the country is experiencing a shift in its demographics with a notable increase in the number of senior citizens hence the smart city projects are well-positioned to meet the demands of an aging population. Because of this, the market for home care products grows to meet consumer demand. The companies thus have a great chance to increase the production of these goods to meet future market demand.

But the market also has some obstacles, in particular disruptions in the supply chain. Natural screw-ups, logistical troubles, and geopolitical unrest are some examples of factors that can boost the price of raw materials and cause production delays. In addition, these disruptions result in product shortages which have an impact on customers and businesses alike. To hold the market strong and guarantee consistent product availability, it is necessary to address these supply chain troubles.

Moreover, growing customer cognizance of and demand for eco-friendly products is one prominent trend in the market. Customers are supporting environmental sustainability projects increasingly more and are getting more thoughtful about what they buy. Customers' preferences are changing because of this shift in the direction of green products and organizations are being compelled to adjust their product offerings as a result. A large dedication to upholding a sustainable environment and gratifying converting consumer demands is meditated within the increasing market for non-toxic and biodegradable domestic care products, further states the research report, “The Saudi Arabia Home Care Market Analysis, 2024”.

 

Segmentation Analysis:

Online Retail/E-commerce Segment Holds the Largest Market Share

Based on the distribution channel, the Saudi Arabia Home Care Market is bifurcated into Supermarkets/Hypermarkets, Convenience Stores, Online Retail/E-commerce, Traditional Retailers, and Others. This market is seeing a rapid expansion in the online retail and e-commerce segment. Online shopping has increased in Saudi Arabia due to the growing use of smartphones and the busy schedule of consumers. The choice of e-commerce platforms by consumers for convenient home or workplace shopping is also influenced by their busy lifestyles. Moreover, with the help of online retail platforms, consumers can save their precious time and also can save money in the form of discounts & rebates. These benefits motivate end-users to buy home care products through online retail / E-commerce, ultimately driving segmental revenue growth.

The East Region Leads the Saudi Arabia Home Care Market

Because of the various industrial and economic activities like the infrastructure of residential & commercial buildings and the increasing urbanization in the East region, are currently generating massive revenue growth for home care manufacturers, which is ultimately augmenting the size & volume of the Saudi Arabian home care market. The greatest industrial centers and petrochemical complexes are found in and around Dhahran a city in eastern Saudi Arabia. This region is experiencing a rapid increase in urbanization which is driving up demand for home care products and expanding the market size & volume.

Competitive Landscape

With strategic initiatives such as mergers, collaborations, and acquisitions, the leading market companies, Unilever, Henkel Jebel Ali FZCO, Reckitt Benckiser Group PLC, The Clorox Company, Procter & Gamble, Knooz Al-Ardh Detergent Manufacturing Co. LLC, Madar Group, Basic Chemical Industries, Gulf Hygiene Co. Ltd., 3M, and others are looking forward to strengthening their market positions.

Key Questions Answered in the Research Report

1. What are the industry’s overall statistics or estimates (Overview, Size- By Value, Forecast Numbers, Segmentation, Shares)?
2. What are the trends influencing the current scenario of the market?
3. What key factors would propel and impede the industry across the country?
4. How has the industry been evolving in terms of geography & product adoption?
5. How has the competition been shaping up across the country?
6. How have buying behavior, customer inclination, and expectations from product manufacturers been evolving during 2019-30?
7. Who are the key competitors, and what strategic partnerships or ventures are they coming up with to stay afloat during the projected time frame?