The Saudi Arabia Home Care market is projected to grow at a CAGR of around 5.0% during the forecast period of 2023-28, cites MarkNtel Advisors in the recent research report. The ever-increasing rapid urbanization with a large population moving from rural to urban areas owing to job opportunities & better livelihoods has enhanced the demand for home care products in the country. The country has a diverse population belonging to different nations, and indulging in several jobs in the country has augmented the need for these products. For instance, in 2022, the Saudi Arabia Labor market exceeded to around 1.9 million, and the Kingdom of Saudi Arabia has also launched nearly 30 nationalization decisions for new professionals in the country.
In the year 2021, the government of Saudi Arabia allocated around USD2.67 billion to facilitate employment opportunities for Saudi nationals in the private sector. This strategic move by the government aims to bolster the presence of young individuals in the labor market while concurrently elevating the level of economic participation among citizens. Moreover, the Kingdom’s vision for the 2030 plan aims to boost female participation in the workforce from 22% to 30% by 2030. As a result, it would create a demand for these goods for the females to manage their work-life balance in the country.
Additionally, Saudi Arabia has also resumed the Umrah services at full capacity in the two Holy cities of Makkah & Madinah for pilgrims in 2021, which fostered the demand for home care in the hospitality industry. Moreover, the ever-increasing construction industry pushed the development of smart city projects in the country, such as The Line, Neom, and several others, which would accommodate more than 10 million people, hence directly creating the demand for products like cleaning agents, laundry detergents, air fresheners to dishwashing liquids, etc., in the coming years, further states the research report, “Saudi Arabia Home Care Market Analysis, 2023.”
Laundry Care Products Leads in Saudi Arabia Home Care Market
Based on Product Type, the market is bifurcated into Air Care, Dishwashing, Home Insecticides, Laundry Care, Polishes, Surface Care, and Toilet Care. Among them, Laundry Care has dominated the market in the historic years & is presumed to continue to do the same during the forthcoming period as the country has a very hot climate that requires frequent changes of clothes.
Companies & retailers adopt widespread use of advertisements to promote these products, and as a result, more & more people become aware of these products. Therefore, with such tactics & strategies adopted by the companies in the country, the demand for laundry care products would flourish in the country, further positively impacting the market's revenue growth in the following years.
Central Region to Hold the Lion’s Share
Geographically, the Central region is anticipated to attain a significant share of the Saudi Arabia Home Care market during 2023-28. The Central part of the country is highly dense & populated due to economic growth as the country’s capital Riyadh lies in the same region. With the removal of COVID-19 restrictions, more & more people in this region returned to the in-store shopping experience & purchased these products, therefore contributing to the market expansion.
Moreover, the region is highly developed & the number of supermarkets/hypermarkets & shopping complexes is high, as well as the frequent visit of individuals to these places pushes for impulsive buying of home care products, thus increasing the revenue growth of the market in the future.
With strategic initiatives, such as mergers, collaborations, and acquisitions, the leading market players including 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 position.
Key Questions Answered in the Research Report