Global Liquid Soap Market Size To Grow At A CAGR Of 6.6% In The Forecast Period Of 2023-2028
The ‘Global Liquid Soap Market Size, Share, Price, Trends, Growth, Report and Forecast 2023-2028’ by Expert Market Research gives an extensive outlook of the global liquid soap market, assessing the market on the basis of its segments like types, product types, applications, distribution channels, and major regions.
The report studies the latest updates in the market, along with their impact across the market. It also analysis the market demand, together with its price and demand indicators. The report also tracks the market on the bases of SWOT and Porter’s Five Forces Models.
Liquid Soap Market Size, Share, Trends, Industry, Key Player, Report and Forecast
The key highlights of the report include:
Market Overview (2018-2028)
• Historical Market Size (2022): USD 23.80 billion
• Forecast CAGR (2023-2028): 6.6%
• Forecast Market Size (2028): USD 34.92 billion
The increasing awareness pertaining to personal hygiene and well-being, especially after the COVID-19 outbreak, is driving the demand for liquid soaps. They are becoming the preferred form of soap across households owing to the convenience, easy usability, and long-lasting nature of the product. Further, the increasing disposable income, rapid urbanisation, and growing population across semi-urban areas are fuelling the global liquid soap market.
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Liquid soaps are gaining traction in the commercial sector, owing to the growing need for hygienic environments across hospitals, hotels, restaurants, railway stations, and airports, among others. Liquid soap is easily accessible across supermarkets, hypermarkets and convenience stores, leading to escalated sales of the product. Attractive discounts and offers such as buy one get one offered across supermarkets and hypermarkets are further augmenting sales in the liquid soap market.
Some of the excellent advantages offered by liquid soap include its ability to be refilled in existing containers. Moreover, liquid soaps are gentle and create rich lather which can be applied on sensitive skin. Furthermore, the increasing brand awareness among the working population is leading to a heightened sale of liquid soaps with attractive fragrances and additives.
Liquid Soap Industry Definition and Major Segments
Liquid soap is defined as a cleansing agent in liquid form, used to prevent bacterial or viral growth. It is generally obtained from vegetable salts or animals fats and can be 99.99% effective in killing germs. Liquid soaps are available in different depending upon the application, ranging from bath and body soaps with essential oils to dish wash soap with lemon.
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Based on type, the market is bifurcated into:
By product type, the market is segmented into:
• Bath and Body Soaps
• Dish Wash Soap
• Laundry Soaps
On the basis of application, the market is divided into:
By distribution channels, the market is classified into:
• Supermarkets and Hypermarkets
• Convenience Stores
• Speciality Stores
• Online Stores
On the basis of region, the market is categorised into:
• North America
• Asia Pacific
• Latin America
• Middle East and Africa
Liquid Soap Market Trends
The key trends in the global liquid soap market include the growing popularity of online distribution channels such as e-commerce platforms and online stores, which are bolstering the sale of premium packaged liquid soaps. In addition, the rapid development of supermarkets and hypermarkets across the emerging economies are further improving the market dynamics.
Growing investments by various governments and private players towards hygiene promotion campaigns are further skyrocketing the sale of liquid soaps. Aggressive branding and advertising of liquid soap products by the market players on social media platforms are also attracting a greater number of consumers. Research and innovations by leading personal care products manufacturing companies, aimed towards improving the quality, as well as creating liquid soaps with alluring fragrances, are key trends fuelling the liquid soap market.
The increasing adoption of liquid soap dispensers across academic institutions such as schools and colleges, and in commercial establishments such as malls and restaurants is anticipated to garner the market growth in the coming years. In geographical terms, Asia Pacific accounts for a significant share of the liquid soap market, driven by the presence of large population bases across India and China. Local manufacturers are escalating their investments which are further fuelling the market growth.
Key Market Players
The major players in the global liquid soap market report are:
• The Procter & Gamble Co.
• Unilever Plc
• Reckitt Benckiser Group plc
• Kimberly-Clark Worldwide, Inc.
• Kao Corporation
• Johnson & Johnson Services, Inc.
• Lion Corporation
The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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