The Washing and Cleaning Preparations Market in Singapore exhibited fluctuating trends from 2012 to 2023. The market value increased significantly from 2012 to 2014, with 2013 experiencing an 18.84% growth. However, from 2015 onwards, the market saw a mixture of declines and modest recoveries. Notably, the market experienced a steep decline of -16.57% in 2020, concurrent with the COVID-19 pandemic. Recovery efforts were observed with a 15.03% growth in 2021. The Compound Annual Growth Rate (CAGR) for the most recent five-year period stands at 0.6%, indicating a stagnant market with minor fluctuations.
Future trends to watch include the impact of eco-friendly and sustainable cleaning products, increasing automation in household chores, and potential market disruptions stemming from technological innovations and shifts in consumer preferences. Furthermore, global supply chain dynamics and regulatory changes related to chemical safety could also shape the market outlook.