Global liquid soap market to expand at 6.84% CAGR from 2023-2030, propelled by availability of refillable products, new innovations, soaring demand for natural and organic products, popularity of herbal ingredients for antibacterial properties: study

July 6, 2023 (press release) –

The global liquid soap market size stood at USD 21.18 billion in 2022. The market value is slated to rise from USD 22.46 billion in 2023 to USD 35.70 billion by 2030 at a CAGR of 6.84% during 2023-2030. The expansion is propelled by the availability of a range of refillable products and the rollout of new solutions by pivotal industry players. Many companies are emphasizing on the development of quick-to-install, easy-to-refill, and automatic dispensers for enhancing product deployment.

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

Pandemic Resulted in an Upsurge in Personal Hygiene Awareness Impelling Industry Expansion

The COVID-19 pandemic elevated awareness among people regarding the usage of personal hygiene solutions. The market expansion was further driven by the issuance of guidelines such as frequent hand washing by the World Health Organization (WHO). Thus, the coronavirus pandemic helped boost market expansion across the globe.

CavinKare Rolled out Liquid Hand Soap to Secure Competitive Edge

In July 2020, CavinKare debuted in the hand wash sector under Nyle Naturals, the company’s flagship brand, via the rollout of a liquid hand soap. As claimed by the company, the soap does not contain synthetic detergents. The launch constituted the fourth in the hygiene sector from CavinKare since the outbreak of the COVID-19 pandemic.

The company also launched ‘SaaFoo’ washes for meat and vegetables/fruits in the sachet format. It also rolled out a disinfectant solution under the Bacto-V for gadgets and flooring.

Industry Share to Rise on Account of Surging Demand for Organic and Natural Products

One of the major factors propelling the liquid soap market growth is the soaring demand for natural and organic products. An additional aspect favoring industry expansion is the growing popularity of herbal ingredients owing to their antibacterial properties.

However, the industry growth may be hampered by the presence of toxic ingredients such as triclosan and parabens in soap products. Another factor is the deployment of plastic packaging, which enhances the packaging costs as well as carbon footprint of manufacturing firms.

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

https://www.fortunebusinessinsights.com/liquid-soap-market-103020

Leading Companies Ink Partnership Deals to Strengthen Industry Foothold

Major companies are formulating and implementing a range of strategies for gaining a strong footing in the market. Some of the adopted initiatives include acquisitions, merger agreements, and the development and launch of new products. Additional steps constitute an increase in the formation of alliances and research & development activities.

Key Players Profiled:

• Procter & Gamble (U.S.)
• Henkel AG & Co. KGaA (Germany)
• Colgate-Palmolive Company (U.S.)
• Unilever (U.K.)
• Reckitt Benckiser Group plc (U.K.)
• Kimberly-Clark Worldwide, Inc. (U.S.)
• The 3M Company (U.S.)
• Lion Corporation (Japan)
• Kao Corporation (Japan)
• Johnson & Johnson Services, Inc. (U.S.)

Notable Industry Development

• April 2020 – Stephenson Personal Care launched ‘Liquid Soap 2020’, a new liquid soap base. The solution was rolled out to support the increasing product demand amid the COVID-19 pandemic.

Further Report Findings

• By geography, the market has been analyzed across North America, Europe, Asia Pacific, South America, and the Middle East & Africa. The Asia Pacific region has highly populous countries along with rising income level of households. These factors are set to spur the liquid soap market share in the region.
• The Europe market size is anticipated to grow at a notable CAGR over the study period. The expansion is impelled by the presence of developed countries in the region.
• By product, the market is subdivided into laundry soaps, bath & body soaps, dish wash soaps, and others. The bath & body soap segment is slated to expand at a considerable rate over the estimated period. The growth is on account of an increasing awareness regarding personal hygiene.
• Based on application, the market is segmented into household and commercial. The commercial segment is anticipated to grow at an appreciable CAGR over the analysis period. The expansion is driven by the surging product deployment for handwashing and bathing purposes.
• By distribution channel, the market is fragmented into supermarkets/hypermarkets, online sales channel, convenience stores, and others. The supermarkets/hypermarkets segment is poised to surge at a considerable CAGR over the forecast period. The upsurge is propelled by the easy product availability.

 Table of Segmentation

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