The household products market has been forecast to increase at a compound annual growth rate (CAGR) of 3.4% over the next three years, increasing from total revenues of $178.1 billion in 2011, to reach a value of $210.3 billion by the end of 2016.
According to a recently published report, titled 'Household Products: Global Industry Almanac,' the paper products segment was the markets most lucrative in 2011, with total revenues of $59.5 billion, equivalent to 33.4% of the market's overall value.
The household products market is composed of a diverse group of companies. These manufacturers of consumer goods, used in and around the home, offer their wares to various wholesalers and retailers.
Demand for household cleaners continues to grow due to consumer awareness concerning the importance of hygiene and the spread of infectious diseases. The global household cleaners market is benefiting from increased focus on safe food storage, hygienic garbage disposal, the importance of sanitary conditions and the need to disinfect household surfaces.
Diversity is a key characteristic of this group. Household products companies are, for the most part, conglomerates. Many possess a long roster of goods, spanning the brand-name, generic and private-label categories that satisfy a broad customer base.
Overseas expansion also lends opportunity for US-based companies to push sales and earnings higher. North America, Europe and the Asia/Pacific regions are the largest, most attractive markets, but they are generally mature and highly competitive.Developing nations hold greater growth potential, thanks to the rising affluence of their populations.
Although there are clear, large-cap leaders in this group that will appeal to conservative investors, there are a few narrowly focused small-cap members that may attract the venturesome.
Promotional strategies look set to play a key role in customer interest over the coming years. Companies are focusing on high-profile marketing and advertising efforts to reach prospective customers.
Leading players in the global household product industry are following the trend of social marketing seen in other sectors, relying on social network sites such as Facebook and Twitter to actively communicate with their consumer base.
For more information on the household products market, see the latest research: Household Products Market
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