According to researchandmarkets.com, amid the COVID-19 crisis, the global market for Household Cleaners, estimated at US$35.4 Billion in the year 2020, is projected to reach a revised size of US$50.8 Billion by 2026, growing at a CAGR of 5.9% over the analysis period. The report also specifies that household cleaners are growing in demand with increasing awareness for hygiene, cleanliness, and sanitation. Specialty Cleaners, one of the segments analyzed in the report, is projected to record a 5.6% CAGR and reach US$29.6 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Surface Cleaners segment is readjusted to a revised 6.6% CAGR for the next 7-year period. (Source: https://www.businesswire.com/news/home/20220328005432/en/Global-Household-Cleaners-Market-Trajectory-Analytics-Report-2022-Increasing-Popularity-of-Premium-Products-to-Drive-Household-Cleaning-Products-Market—ResearchAndMarkets.com)
As per the same research report, The Household Cleaners market in the U.S. is estimated at US$10 Billion in the year 2021. China, the world`s second-largest economy, is forecast to reach a projected market size of US$8.4 Billion by the year 2026 trailing a CAGR of 7.9% over the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 4.3% and 5.2%, respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 4.6% CAGR. The pandemic has sharpened consumer focus on disinfection practices in homes. Maintaining clean and sterile household surfaces to reduce infection risk has become the primary focus, driving the growth of washing and cleaning products.
One small-cap Company that could benefit from the increasing demand for cleaning agents is CleanGo Innovations Inc. (SOFSF). As per the Company’s website, CleanGo Innovations is on a mission to provide North American and International customers and businesses with access to quality green, non-toxic, and most importantly, SUPER EFFECTIVE cleaning supplies built by ESG companies changing the world for the better. (Source: https://cleangoinnovations.com/investor-info/how-to-invest/).
As per the Company’s website, The Company is proud of its suite of proprietary, certified, non-toxic green products that are Health Canada approved to claim 99.9% disinfecting of viruses and bacteria. CleanGo’s portfolio is also proud to be cruelty-free / Leaping Bunny certified while being family and pet safe. It is CleanGo’s mission to create the worlds leading non-toxic, green solutions for the world’s cleaning problems. It will be interesting
Earlier on March 24, 2022, CleanGo Innovations Inc – (CSE:CGII) (CNSX:CGII.CN) (OTC:SOFSF) (FRA:APO2) announced that through their Strategic Partnership with CleanSweep Industrial they have now received the most significant single purchase order in the Company’s history with a bulk order of 10,000 liters of CleanGo GreenGo’s Proprietary Oil and Gas formulation. (Source: https://www.marketscreener.com/quote/stock/CLEANGO-INNOVATIONS-INC-126829916/news/CleanGo-Innovations-Inc-Receives-its-Largest-Purchase-Order-in-Company-History-39851729/)
Sales growth is particularly important for small-cap stocks because younger companies should be able to deliver higher revenue growth than larger, more mature companies. If you’re looking for a small-cap growth stock, revenue growth over 20% is ideal, as well as a track record of steady revenue growth. Based on the recent press releases issued by the Company, CleanGo Innovations Inc (OTC: SOFSF) seems to be heading in the right direction. As always, follow trader’s vigilance and conduct your own due diligence. Other stocks in the household cleaning sector to watch our are Procter & Gamble (NYSE:PG), Church & Dwight (NYSE:CHD), Unilever (NYSE:UL) and Clorox (NYSE:CLX).
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