Wrinkle release spray sales around the world will rise at a CAGR of over 5.0% through 2030. According to Future Market Insights (FMI), despite a period of muted growth in 2020, wrinkle release spray sales will improve especially as consumers look for options to ease their daily chores. The FMI study tracks wrinkle release spray sales in 20+ countries, offering a lucid analysis on how growth will unfold.
The study reveals that because of slowdown due to COVID-19 outbreak, the growth of the wrinkle release spray market also is impacted. Several types of retail products are nowadays available to make consumers’ lifestyle more convenient. Within the wide range of retail products, wrinkle release sprays have showcased their presence in the market and have become a regularly bought product. Wrinkle release sprays are chemicals formulated to remove wrinkles for the fabrics and packed in the spray able bottle.
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During the last five years wrinkle release sprays have been moved from speciality product to a general product category in hypermarkets and supermarkets. However, they not yet to become widely sold among consumers due to lack of awareness. Nonetheless, these products are gaining traction among professional fabric care service providers. FMI has projected hypermarkets and supermarkets to account for nearly 20% of wrinkle release sprays sold in 2021.
Key Takeaways from the Wrinkle Release Spray Market Study
- FMI has forecast the global wrinkle release spray market to reach US$ 1.08 Bn by 2030
- Exhibiting consistently high demand, the U.S. will emerge as a key market, accounting for over 88% of wrinkle release sprays market in North America
- The U.K. will exhibit consistent demand, registering 3% Y-o-Y growth in 2021
- Germany and France will emerge as other key markets for wrinkle release sprays in Europe
- In East Asia, the demand from China and South Korea is expected to remain considerably high
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Who is winning?
Some of the key players operating in the wrinkle release spray market are P&G, Kao Corporation, Grove Collaborative, Faultless, Unilever, MiiSTS, Downy, Dryel, Bon Ami, Spray & Forget, The Laundress, Magic, Soak Wash, Fox Valley Traders, Quidsi, Grandma’s Secret, Ecokindness, Bayes Cleaners, Follure Clothing, and Woolite.
The players are aggressively investing in campaigns to attract the consumers. They also are focusing on product development with an aim to gain a competitive advantage. Some of them are entering into strategic collaborations to expand their footprint and portfolio.
Competitive Landscape
The global wrinkle release spray market is quite fragmented exhibiting the presence of a large number of players. Companies operating in the market are focusing on expanding their online presence. Besides this, the market has been showcasing considerable investment towards product launches.
- For instance, B&M sells crease releasing sprays with an aim of saving time on ironing
- Tom and Sheri also introduced wrinkle releasing sprays under the brand name IRON IN A BOTTLE , which is a plant-based formula in 2019
Some of the leading companies operating in the market are:
- Procter & Gamble Co.
- Kao Corporation
- Unilever PLC
- Faultless
- Grandma’s Secret Products
- Cold Iron
- The Laundress
- Grove Collaborative
- MiiSTS
- Real Simple
- FREY Inc.