Trusted Business Insights presents the Latest Study on Liquid Soap Market 2019-2025. The report contains market predictions related to market size, revenue, production, CAGR, Consumption, gross margin, price, and other substantial factors. While emphasizing the key driving and restraining forces for this market, the report also offers a complete study of the future trends and developments of the market. It also examines the role of the leading market players involved in the industry including their corporate overview, financial summary, and SWOT analysis.
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Abstract, Snapshot, Market Analysis & Market Definition: Global Liquid Soap Market
The global liquid soap market size was estimated at USD 18.50 billion in 2018. Rising awareness regarding personal hygiene among adults is expected to remain a key driving factor for the market. These liquid formulations are expected to gain popularity as they have low pH levels which make them gentler and suitable for people with sensitive skin. This factor is anticipated to contribute to the widespread adoption of the product in near future.
Liquid soaps are preferred over soap bars as they can retain more than 30% of skins natural moisture and are considered suitable for dry skin. As per the Bureau of Labor Statistics, in 2016, U.S. household spending on personal care products were around USD 707 per year and it was estimated to continue witnessing significant growth in the future. Growing consumer spending on personal hygiene is expected to promote the product in U.S. during the forecast period.
Rapidly growing consumer awareness regarding health and hygiene is expected to boost the market growth. It has been observed that the consumers are willing to spend on health and personal hygiene products. Manufacturers are concentrating on growing markets such as China and India to gain greater market share. For instance, in 2016, India reported around USD 1.20 billion foreign investments from soap and cosmetic products.
Market Segmentation, Outlook & Viewpoint: Global Liquid Soap Market
Product Market Segmentation & Outlook (Revenue, USD Billion, 2014 – 2025)
Application Market Segmentation & Outlook (Revenue, USD Billion, 2014 – 2025)
Distribution Channel Market Segmentation & Outlook (Revenue, USD Billion, 2014 – 2025)
Supermarkets & Hypermarkets
Key Players, Recent Developments & Regional Insights: Global Liquid Soap Market
Conventional products was accounted for the largest market share of more than 60% in 2018, owing to cost effectiveness and availability of a variety of fragrance choices. These products are available in fragrance variants including vanilla, melon, peach, apricot, honey, chocolate, citrus, herby, floral, fruity, mild, subtle, delicate, grassy, and sweet among others. Furthermore, rising preference for homemade and handcrafted shops is attributing to the segment growth. Ease of manufacturing these products at low cost will attract many small scale private level players to enter the manufacturing of conventional liquid soaps.
Organic products is expected to witness the fastest CAGR of 5.9% from 2019 to 2025. Rising concerns about the adverse effects associated with chemicals such as parabens and sulphates is expected to positively influence the demand for organic products. Rising prevalence of skin diseases is driving consumers to spend on organic products for hand wash and body wash in near future.
Household category led the liquid soap market, accounting for more than 60% of the market in 2018. The demand is generally higher in urban areas in comparison to rural areas. Key factor attributed to this growth include rising consumer awareness regarding hygiene and healthy lifestyle in emerging economies. Government initiatives for improving hygiene in emerging economies such as China and India will further propel the growth. For instance, campaigns like Swachh Bharat Mission and Total Sanitation Campaign among others will boost the spending on sanitary hygiene products like hand washes in India.
Commercial segment is anticipated to expand at a CAGR of 4.5% from 2019 to 2025, attributed to the rising expansion of commercial properties and hospitality industries at global level. In 2018, the U.S. hotel industry expanded by around 5%. Such significant rise can be attributed to the high product demand from commercial segment.
Distribution Channel Insights
Supermarkets and hypermarkets generated a revenue of USD 10.06 billion in 2018 and is expected to grow at a significant pace in the forthcoming years. This channel offers a large variety of goods at one place, giving consumers a chance to physically compare the products before buying. Less operating and selling overheads is anticipated to further contribute to the growth of the segment.
Online stores is expected to expand at a CAGR of 7.8% from 2019 to 2025. Established brands are selling their product online by understanding the market opportunity. Companies like Amazon and Alibaba among others sell products from different retailers on a single platform. Some online health stores such as ProCure Health Limited and TheBetterHealthStore.com among others are also selling liquid soaps to increase their market reach.
Asia Pacific is expand at the fastest CAGR of 6.4% from 2019 to 2025. Growing consumer awareness about hygienic products in China and India is contributing to the high demand from commercial and household applications. Furthermore, new product launches by companies including Unilever and Proctor and Gamble is expected to remain a key driving factor in near future.
North America was the second largest market, accounting over 20% of the global share in 2018. Around 55% of U.S. population prefers liquid soaps over soap bars due to added convenience. Consumers in the age group between 18 and 24 years prefer liquid soap due to hygiene concerns over sharing the soap bars.
Liquid Soap Market Share Insights
The key market players include Reckitt Benckiser Group plc.; Procter & Gamble; Unilever; 3M; Lion Corporation; GOJO Industries, Inc.; Kao Chemicals; Godrej Consumer Products; Bluemoon Bodycare; NEW AVON LLC.; and Pental Products. Companies are working on new product development to gain competitive advantage. For instance, in August 2018, Godrej Consumer Products launched the first ever powder to liquid hand wash called Godrej Protekt Mr. Magic.
Key Insights Covered: Global Liquid Soap Market
1. North America, Europe, Asia Pacific, Middle East & Africa, Latin America market size (sales, revenue, and growth rate) of Liquid Soap industry.
2. Global major manufacturers’ operating situation (sales, revenue, growth rate, and gross margin) of Liquid Soap industry.
3. Global major countries (United States, Canada, Germany, France, UK, Italy, Russia, Spain, China, Japan, Korea, India, Australia, New Zealand, Southeast Asia, Middle East, Africa, Mexico, Brazil, C. America, Chile, Peru, Colombia) market size (sales, revenue and growth rate) of Liquid Soap industry.
4. SWOT analysis, New Project Investment Feasibility Analysis, Upstream raw materials and manufacturing equipment & Industry chain analysis of Liquid Soap industry.
5. Global market size (sales, revenue) forecast by regions and countries from 2019 to 2024 of Liquid Soap industry.
Research Methodology: Global Liquid Soap Market
- Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analyzed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please Request a Sample Report.
- Demand Side Primary Contributors: OEMs, Industrial Professionals, Researches, Suppliers and Distributors, Group Purchasing Organizations, Associations, Insurers, Universities, Technological Writers, Scientists, Promoters, Investors among others.
- Supply Side Primary Contributors: Product Managers, Marketing Managers, C-Level Executives, Distributors, Market Intelligence, Regulatory Affairs Managers among other
Quick Read Table of Contents of this Report @ Liquid Soap Market Size, Share, Global Sector / Industry Report & Analysis, 2019-2025
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