The producers of effective greaser cutters can penetrate a new market. Instead of selling to customers, the company can start business-to-business sales, which will lead to an increased profit. The global household cleaner market is one of the areas to target as this sector is steadily expanding. It has been calculated that the market value reached approximately 30 billion U. S. dollars in 2019 (“Cleaning products,” 2022). Notably, even during the pandemic, when many industries and businesses faced financial constraints and losses, the household cleaner market grew by 5.33% (“Cleaning products,” 2022). It is estimated that it can value as high as 40 billion U. S. dollars by 2025 (“Cleaning products,” 2022). People’s concerns regarding hygiene and the prevention of infectious diseases are the primary causes of such growth.
This market is attractive as it is expanding worldwide, so the company will be able to enter domestic and foreign markets as well. It is possible to start with dishwashing products and surface cleaners because these products generate the most profit. The value of the dishwashing products market is estimated to be about 12.9 billion U. S. dollars by 2025, and the surface cleaner market can value up to 12,7 U. S. dollars by the same year (“Cleaning products,” 2022). The company can also collaborate with the producers of other types of cleaners, but the focus can be on the products mentioned above.
The focus on large manufacturers can be a good option, as the development of proper relationships with big businesses ensures stability and sustainable development. At that, working with mid-size and small producers should be a part of the company’s strategy. Since the household cleaner market is a new area for the company in question, it is beneficial to have many partners. In this case, the company will be able to choose the most appropriate strategy for further development.
Reference
Cleaning products. (2018). Statista. Web.