Economic Downturn & Consumer Spending Impact: Henkel's consumer goods segments (Laundry & Home Care, Beauty Care) are sensitive to shifts in disposable income and consumer confidence, while industrial demand for Adhesive Technologies can decline during economic slowdowns, affecting sales volumes and profitability.

Raw Material Price Volatility & Supply Chain Disruptions: The company relies on a wide range of raw materials, including petrochemicals, oils, and packaging materials. Significant price increases or disruptions in the global supply chain due to geopolitical events, natural disasters, or logistical issues can inflate production costs and impact delivery capabilities.

Intense Competition & Pricing Pressure: Henkel operates in highly competitive markets across all its business units, facing global and local rivals. This intense competition can lead to pricing pressure, increased marketing expenses, and challenges in maintaining or growing market share.