Home & Laundry Care - Iceland | Statista Market Forecast

In 2024, the Home & Laundry Care market in Iceland is projected to generate a revenue of US$33.08m.
This market is expected to grow at an annual rate of 3.65% (CAGR 2024-2029).
The largest segment within this market is Laundry Care, which is estimated to have a market volume of US$14.56m in 2024.
When compared to other countries globally, United States leads in terms of revenue generation, with an estimated revenue of US$32bn in 2024.
In relation to the total population of Iceland, the per person revenue in the Home & Laundry Care market is projected to be US$87.58 in 2024.
Furthermore, online sales are expected to contribute 16.2% of the total revenue in the Home & Laundry Care market by 2024.
Iceland's home and laundry care market is experiencing a surge in demand for eco-friendly and natural products.

Definition:

The Home & Laundry Care market covers cleaning products used for private households. This market only takes into account consumable detergents for use in private households (B2C). Auxiliary cleaning equipment (e.g., mops and brooms) are not included. Professional products for industry use or household cleaning services (B2B) have also not been included.

Structure:

Home & Laundry consists of 4 different markets:

The Laundry Care covers all detergents purchased by consumers that are intended for the care of textiles in the form of powder, tabs, or liquids.
The Household market covers all consumer products used for the cleaning of surfaces, windows, and toilets.
The Dishwashing Detergents cover cleaning products used for washing up and cleaning dishes and cutlery. Both detergents for dishwashers and hand dishwashing detergents in liquid, powder, or tab form are included in this market.
The Polishes, Room Scents & Insecticides cover several specialty cleaning products for narrowly defined niche uses. The market includes polishes for shoes, floor, furniture, and coach care, along with room deodorants and household insecticides..

Additional Information:

The market comprises revenue, average revenue per capita, sales channel. The market encompasses retail sales through both online and offline sales channels to private end customers (B2C). For more information on the displayed data, click the info button on the right side of each box.

Laundry detergents
Household cleaners
Dishwashing detergents
Specialty products (polishes, room scents, household insecticides)
Cleaning products for private consumers (B2C)

Cleaning equipment (e.g. mops or cleaning cloths)
Cleaning services (laundry services, house cleaning)
Professional products for bulk consumers (B2B)

The Home & Laundry Care market in Iceland is witnessing moderate growth, fueled by increasing consumer awareness of hygiene, a shift towards eco-friendly products, and the convenience of modern cleaning solutions. These trends are shaping the industry's future trajectory.

Customer preferences: Consumers in Iceland are increasingly prioritizing sustainability in their home and laundry care choices, driving demand for eco-friendly and biodegradable products. This shift is influenced by a strong cultural emphasis on environmental preservation and a growing awareness of carbon footprints. Additionally, younger demographics are gravitating towards multifunctional cleaning solutions that offer convenience and efficiency, reflecting busy lifestyles. As remote working becomes more common, there's a rising preference for products that enhance home comfort and cleanliness, aligning with a heightened focus on creating inviting living spaces.

Trends in the market: In Iceland, the Home & Laundry Care market is increasingly seeing a shift towards eco-friendly and biodegradable products, driven by a strong cultural commitment to environmental sustainability. This trend signifies a broader consumer awareness of carbon footprints and the impact of household products on the planet. Additionally, younger consumers are favoring multifunctional cleaning solutions that cater to busy lifestyles, reflecting a demand for convenience and efficiency. As remote work becomes more prevalent, there's an increasing focus on products that enhance home comfort and cleanliness, prompting industry stakeholders to innovate and adapt to these evolving consumer preferences.

Local special circumstances: In Iceland, the Home & Laundry Care market is shaped by its unique geographical conditions, including a reliance on renewable energy sources and abundant natural resources. This has fostered a strong emphasis on sustainability, leading consumers to prioritize eco-friendly products. Culturally, the Icelandic population values cleanliness and minimalism, influencing preferences for simple, multifunctional solutions that align with their lifestyles. Furthermore, stringent regulations on harmful chemicals in household products encourage innovation in safer alternatives, differentiating Iceland from other markets.

Underlying macroeconomic factors: The Home & Laundry Care market in Iceland is significantly influenced by macroeconomic factors such as the country’s economic stability, consumer purchasing power, and fiscal policies promoting sustainability. As Iceland maintains a robust economy, characterized by low unemployment and rising disposable incomes, consumers are more willing to invest in premium, eco-friendly products. Additionally, government initiatives aimed at reducing carbon footprints and enhancing recycling practices bolster the demand for sustainable home care solutions. Global trends toward environmental consciousness resonate with Icelandic values, further driving innovation and competition within the market.

Data coverage:

The data encompasses B2C enterprises. Figures are based on the total consumer spending on home and laundry care products. The market encompasses cleaning products designed for private households, including laundry care, household cleaners, dishwashing detergents, and polishes, room scents & insecticides.

Modeling approach:

Market sizes are determined through a top-down approach, building on specific predefined factors for each market segment. As a basis for evaluating markets, we use resources from the Statista platform as well as in-house market research, international institutions, and the experience of our analysts. In addition, we use relevant key market indicators and data from country-specific associations, such as GDP and consumer spending. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, regression analysis and Monte Carlo simulations are particularly suited for forecasting in the Home and Laundry Care market, due to the unpredictable variability and complex dynamics in consumer behavior and product adoption. The main drivers are GDP and consumer spending.

Additional notes:

The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice per year in case market dynamics change.

This report presents a comprehensive analysis and additional information on the Consumer market, in a PDF format.

Consumers’ interest in cleaning supplies has kept on growing in the last few years. As awareness on the importance of good hygiene practices increases, so does the revenue of the global home and laundry care market, which was estimated to add up to nearly 200 billion U.S. dollars in 2024 and to grow to over 230 billion U.S. dollars by 2029. The United States is the leading region in the market, having recorded over 30 billion U.S. dollars in revenues as of 2023, followed by China and India.