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Soap Market to Register 5.0% CAGR till 2027; Growing Number of Online Retail Channels for Personal Care Products to Accelerate Market Expansion

June 01, 2020 | Consumer Goods

The global soap market size is projected to reach USD 55.29 billion by 2027 on account of extensive usage of traditional solid soap products around the globe. Fortune Business Insights™ shares this information in its new report, titled “Soap Market Size, Share & Industry Analysis, By Product Type (Bath & Body Soaps, Kitchen Soaps, and Laundry Soaps), Form (Solid and Liquid), Application (Household and Commercial), Distribution Channel (Hypermarkets/Supermarkets, Pharmacies, Online Channels, and Others), and Regional Forecast, 2020-2027”. According to the report, the market value stood at USD 34.09 billion in 2019 and is anticipated to exhibit a CAGR of 5.0% from 2020 to 2027.


Colgate Extends Support to the WHO for Its COVID-19 Containment Efforts


As the COVID-19 outbreak continues to ravage the world, many consumer goods companies are stepping up and offering to contribute in the global effort to curb the spread of this disease. One such company is the US-based consumer products giant, Colgate-Palmolive, who, on April 3, 2020, extended its support to the WHO’s ‘Safe Hands’ initiative. Leveraging its manufacturing capacity of hygiene and sanitation products, the company will enhance its production units across the globe to manufacture and donate 25 million soap bars, focusing on regions where the need is direst. These soaps will be distributed in special packages, which will have instructions on proper hand-washing techniques.


To get a detailed report summary and research scope of this market, click here:


https://www.fortunebusinessinsights.com/soap-market-102841


Awareness Initiatives by Global Bodies to Foster Market Growth


Hand-hygiene and overall well-established sanitation practices are crucial in preventing the incidence and spread of deadly contagious and infectious diseases. In fact, poor sanitary conditions are one of the most noticeable causes of disease and death among the more vulnerable sections of society. The World Health Organization (WHO) estimates that approximately 400,000 babies and 30,000 women die every year from infections caused by lack of water and poor sanitation. To address this issue, many organizations have initiated awareness campaigns to inculcate among people the importance of hygienic practices. For instance, UN-Water has been convening the World Toilet Day on November 19 every year since 2013. Similarly, the WHO holds the World Hand Hygiene Day every year on May 5, themed on the prevalent issues of that year. These initiatives bode well for the soap market growth as they are likely to inspire people to follow proper hand-washing practices.


Regional Expansion Ventures by Key Players to Stir Competition


In an attempt to expand and establish their foothold in foreign markets, key players in this market are undertaking ventures to enlarge their presence in neighboring regions. This is primarily being achieved through the traditional route of acquisitions of and collaborations with local companies to efficiently manage production operations overseas. To bolster their global position, many companies are also strengthening their existing portfolios with innovative products and increased R&D investments.


Industry Development:



  • April 2019: Wipro Consumer Care entered into a definitive agreement to take over the Philippines’s largest personal care entity, Splash Corporation. The acquisition will provide Wipro the necessary foundation to establish its presence in Southeast Asia and also enable the company to add Splash’s wide range of personal care products to its portfolio.


List of Companies Profiled in the Soap Market Report:



  • Ecolab Inc.(U.S.)

  • Johnson & Johnson Services, Inc. (U.S.)

  • Natura & Co. (Brazil)

  • Procter & Gamble Co. (U.S.)

  • Colgate-Palmolive Co.(U.S.)

  • Beiersdorf AG (Germany)

  • Reckitt Benckiser Group plc (U.K.)

  • Kao Corporation (Japan)

  • Unilever (U.K.)

  • Henkel AG & Co. KGaA (Germany)


Further Report Findings:



  • The bath & body soaps segment led the market with a share of 76.0% in 2019 and is expected to maintain its position owing to high demand for bathing products such as body wash and their availability in different fragrances.

  • Asia Pacific, with a market size of USD 12.63 billion in 2019, is slated to dominate the soap market share during the forecast period on account of increasing hygiene awareness in developing countries in the region.

  • WHO-led hygiene campaigns are expected to drive the demand for soaps in the Middle East & Africa region.     


Global Soap Market Scope&Segmentation 0f table:














































 ATTRIBUTE



 DETAILS



Study Period



  2016-2027



Base Year



  2019



Forecast Period



  2020-2027



Historical Period



  2016-2018



Unit



  Value (USD Billion)



Segmentation



By Product Type



  • Bath & Body Soaps

  • Kitchen Soaps

  • Laundry Soaps



By Form



  • Solid

  • Liquid



By Application



  • Household

  • Commercial



By Distribution Channel



  • Supermarkets/Hypermarkets

  • Pharmacies

  • Online Channel

  • Others (Convenience Stores, Department Stores, etc.)



By Geography



  • North America (U.S. and Canada, Mexico)

  • Europe (U.K., Germany, France, Italy, Spain, and Rest of Europe)

  • Asia-Pacific (Japan, China, India, Australia, South Korea, and Rest of Asia- Pacific)

  • South America (Brazil, Argentina, and Rest of South America)

  • Middle East & Africa (South Africa, UAE, Saudi Arabia, and Rest of the Middle East & Africa)


Soap Market
  • PDF
  • 2019
  • 2016-2018
  • 125

    CHOOSE LICENSE TYPE

  • 4850
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