15 September 2022 09:00–09:30 Brazil Time
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This infographic highlights recent trends in home care and Euromonitor's projections for the industry.
Home care innovation strategy in 2024 is being developed in the context of a more challenging economic and financial environment. Large multinational producers have focused on reducing rather than expanding the number of brands in their portfolios, with Procter & Gamble and Unilever focusing innovation on their leading brand portfolio and on fewer but more disruptive product launches.
There is no shortage of decisions regarding attributes that companies need to consider when innovating in their industries and introducing new products to the market. In an industry like air care, scent is one such attribute that can significantly impact a new product’s performance. Scents have a powerful conscious and unconscious influence on consumers and so companies need to carefully monitor how consumer preference is changing.
Home care in the Middle East is undergoing a remarkable transformation, driven by the convergence of two factors: a surge in consumer demand for innovative cleaning solutions and the active promotion of sustainable and eco-friendly practices by governments. As such, consumers are seeking cleaning solutions that offer eco-friendly formulations, sustainable packaging, and stress-relieving fragrances tailored to regional preferences
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Inflation and rising energy costs are key driving forces behind product innovation in Home Care, enabling more efficient energy consumption, particularly in Laundry Care and Dishwashing. This also works as a more sustainable alternative for a growing base of environmentally conscious consumers globally. In addition, growing consumer awareness of self-care and wellness is being addressed through focus on features such as scent in new product launches, especially in Air Care.
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