The average household expenditure on detergent and other soaps in Canada is forecasted to decline gradually from 2024 to 2028, starting at CAD 87.55 in 2024 and decreasing to CAD 86.31 in 2028. In 2023, the actual expenditure stood slightly higher, setting the context for this decreasing trend. The data indicate a consistent year-on-year decline of approximately 0.36% during this period. The compound annual growth rate (CAGR) from 2024 to 2028 suggests a moderate and stable market contraction, averaging around -0.36% annually.
Future trends to watch for include potential shifts in consumer behavior towards more sustainable products, which could affect expenditure patterns. Additionally, economic factors such as inflation and changes in disposable income may alter these forecasts. Monitoring raw material costs and technological advancements in the detergent industry could also provide insights into future expenditure levels.
