Laundry and Fabric Care – UK – 2024
Research into the UK’s laundry and fabric care market revealed a sector that is experiencing robust value growth. Bolstered by improvements in personal finances since the pandemic, consumers are increasingly seeking out products that offer more than basic functionality. Fabric care in particular is benefitting from this key development signalling the importance of manufacturer and own label innovation to tap into an evolving consumer.
Third-party data analysed for the report demonstrated how product inflation in this sector was outpacing that of the broader economy. Fabric care products, especially rinse conditioners, were identified as being a key driver for growth. Here, as a growing number of consumers returned to what can be considered a discretionary item, innovation was noted as playing an especially important part in driving forward expansion with a growing number of product launches.
However, the research noted how the ongoing cost-of-living crisis continued to cast a shadow over opportunities for manufacturers and retailers. With the recent financial pain of the cost-of-living crisis, many households have cut back on their laundry routines. Acknowledging this, the report identified how manufacturers need to offer brands that provide value to price-sensitive consumers as well as catering to wealthier households eager for new innovations. In summary, the importance of a segmented market approach is important for all those operating in this market.