"We Envision Growth Strategies Most Suited
to Your Business"

Soap Market to Grow at 5.70% CAGR from 2023 to 2030; Emami Debuted the Hand Wash Category to Strengthen Industry Footing

August 28, 2023 | Consumer Goods

The global soap market size stood at USD 43.31 billion in 2022. The market value is slated to rise from USD 45.58 billion in 2023 to USD 67.18 billion by 2030 at a CAGR of 5.70% during 2023-2030. The rise is driven by the growing consumer inclination toward the usage of liquid soaps. These are easy to carry and more convenient compared to solid bars. The market growth is further fueled by the soaring usage of the product in cleaning garments and utensils.


Fortune Business Insights™ presents this information in its report titled Soap Market Size, Share & COVID-19 Impact Analysis, By Product Type (Bath & Body Soaps, Kitchen Soaps, and Laundry Soaps), By Form (Solid and Liquid), By Application (Household and Commercial), By Distribution Channel (Supermarkets/Hypermarkets, Pharmacies, Online Channel, and Others), and Regional Forecast, 2023-2030”.


Escalating Awareness Regarding Personal Hygiene Products Propelled Market Growth


To combat the spread of coronavirus, several regulatory authorities advocated the significance of frequent handwashing. The period registered an escalating demand for organic and herbal soap among consumers. In addition, the period also recorded a soaring demand for disinfecting products for hygiene maintenance.


Emami Entered the Soap and Hand Wash Categories to Establish Strong Footing


In June 2020, Emami Ltd debuted the hand wash and soap categories via the expansion of Boroplus, the company’s second largest brand, into these segments. The move would help the company in decreasing the dependence on seasonality.


The company would leverage the company’s distribution strength for ensuring the availability of the products across India. Besides, the firm is focused on capitalizing the digital medium on account of increased prominence and presence of e-commerce platforms.


Upsurge in Market Value Driven by Rise in Product Innovations


Leading market players are focused on the introduction and adoption of a range of solutions such as transparent scrubs and fragrance-free deodorants. This is expected to favor product demand, propelling the soap market growth over the forecast period.


However, the industry expansion could be hampered by the soaring availability of alternative products.


Major Companies Ink Collaborative Deals to Impel Industry Footing


Pivotal industry participants are focused on adopting various initiatives such as acquisitions, merger agreements, and the launch of new products. These include partnerships and collaborations. Other steps comprise an upsurge in research activities and the rollout of new solutions.


Key Players Profiled:



  • Procter & Gamble Co. (U.S.)

  • Unilever (U.K.)

  • Natura & Co. (Brazil)

  • Kao Corporation (Japan)

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

  • Reckitt Benckiser Group plc (U.K.)

  • Ecolab Inc.(U.S.)

  • Beiersdorf AG (Germany)

  • Colgate-Palmolive Co.(U.S.)

  • Henkel AG & Co. KGaA (Germany)


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


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


Notable Industry Development


October 2021 – Blue Power Group Limited shared plans for buying a new production line from Kirk-FP Limited. Under the agreement, Blue Power will take over the domestic production and operation that was outsourced to international companies in the Latin American and Eurasian regions.


Further Report Findings



  • By geography, the market has been analyzed across Europe, North America, Asia Pacific, South America, and the Middle East & Africa. The Asia Pacific region has recorded an upsurge in awareness regarding hygiene. This is propelling the soap market share in the region.

  • The Europe market is estimated to register appreciable growth throughout the forecast period. The escalation is driven by the presence of a population that is better-sensitized toward hygiene.

  • Based on product type, the market is segmented into bath & body soaps, kitchen soaps, and laundry soaps. The bath & body soaps segment is slated to record substantial expansion over the estimated period. The upsurge is propelled by the escalating bathing products demand.

  • On the basis of form, the market is fragmented into liquid and solid. The solid segment is touted to grow at a lucrative pace over the study period. The expansion is driven by the traditional deployment of solid soaps.

  • By application, the market is fragmented into household and commercial. The household segment is poised to expand at a considerable rate over the analysis period. The upsurge is impelled by the surging awareness regarding personal as well as household hygiene.

  • Based on distribution channel, the market is subdivided into hypermarkets/supermarkets, pharmacies, online channel, and others. The hypermarkets/supermarkets segment is estimated to exhibit considerable growth throughout the study period. The escalation is driven by the wide availability of the product.


Table of Segmentation


















































ATTRIBUTE



DETAILS



Study Period



2019-2030



Base Year



2022



Forecast Period



2023-2030



Historical Period



2019-2021



Growth Rate



CAGR of 5.70% from 2023 to 2030



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 and Department Stores)



By Geography



  • North America (U.S., Canada, and 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
  • 2019-2021
  • 185

    CHOOSE LICENSE TYPE

  • 4850
    5850
    6850

Our Clients

Hitachi
Lek
Nissin
Mobil
Kaman
We use cookies to enhance your experience. By continuing to visit this site you agree to our use of cookies . Privacy.
X