"We Envision Growth Strategies Most Suited
to Your Business"
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:
To get a detailed report summary and research scope of this market, click here:
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
Table of Segmentation
CAGR of 5.70% from 2023 to 2030
Value (USD Billion)
By Product Type
By Distribution Channel