Newark, June 22, 2022 (GLOBE NEWSWIRE) — According to the report published by The Brainy Insights, the global liquid soap market is expected to grow from USD 21.27 billion in 2021 to USD 38.06 billion in 2030, at a CAGR of 6.68% during the forecast period 2022-2030.
The growth factor driving the liquid soap market development is a growing awareness about personal hygiene among people, which is expected to drive the global liquid soap market growth during the projection time. The increasing need for liquid soap in the household and commercial sector around the world is another aspect that is expected to drive the development of the global liquid soap market. Furthermore, the rising demand for liquid soap in daily life due to its antibacterial properties, relaxing fragrances and natural elements are also some of the additional factors that are expected to drive the development of the target market. Liquid soap reduces bacteria and germs and protects against contamination such as infections and dangerous chemicals. Liquid soaps are available in different packaging and can be worn effortlessly. These are additional elements that are expected to aid the growth of the target market over the projection time.
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In order to strengthen their market position in the global liquid soap market, the key players are now turning to adopt strategies such as product innovations, mergers and acquisitions, recent developments, joint ventures, collaborations and partnerships.
In April 2020, one of the top companies, Procter & Gamble, declared its creation in soaps called anhydrous “samples of detergents and soaps.” When the water is added, the bubbles that form from it are used as soap or detergent. It is expected to significantly reduce water consumption during the production procedure.
• Colgate-Palmolive has adopted a process to patent the liquid soap bottle dosing pump. Without access to the pump, other competitors would not be able to launch their products for two years, giving Colgate-Palmolive (Softsoap brand) a clear advantage in the market.
Market growth and trends
Technical advances in dispenser units and soap packaging are increasing the shift as the dispenser is an essential part of liquid soap products, making the product use more convenient. For example, companies are developing quick to install, easy to refill and automated dispensing units to improve product utilization. For example, Henkel’s Dial brand presents a low-cost, ‘Eco-Smart Amenity Dispenser’ with an easy-to-setup liquid soap team made with 100% recyclable refill bottles. Moreover, newcomers come up with new product formulations and creative packaging designs, which in turn creates a competitive atmosphere in the market. For example, a Mumbai-based startup company in India called Khello Khillo Design LLP launched its latest product, ‘SoaPen’, on Amazon in October 2018. This product is packaged in an easy-to-use pen format that is planned for use by children. The soap can be used by simply rolling the pen over the hand without leakage and therefore can be easily carried by children at school or when traveling. Thus, improvements in packaging and dispensing systems are expected to expand the market.
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• The handwash segment will grow at the fastest CAGR of 7.9% over the forecast period.
The product segment is divided into face wash, surface cleaner, hand wash and others. Handwashing segment will grow at the fastest CAGR of 7.9% over the forecast period. The growth is attributed to the fact that hand washing is the most beneficial way to remove germs and harmful bacteria from hands.
• The commercial segment dominated the market with the largest market share at 60.24% and a market turnover of 12.81 billion.
The application segment is divided into residential and commercial. In 2021, the commercial segment accounted for the largest market share, with 60.24% and a market turnover of 12.81 billion. Rising health centers, cafes, restaurants and outpatient clinics are driving the segment’s growth. The daily practice of cleaning hands before handling the patient or before eating is a valuable measure to stop the transmission of germs between individuals.
• The online sales channel segment dominated the market with the largest market share of 40.15% and a market turnover of 8.53 billion.
The distribution channel segment is divided into supermarkets/hypermarkets, convenience stores, specialty stores and online sales channel. In 2021, the online sales channel segment accounted for the largest market share, with 40.15% and a market turnover of 8.53 billion. The main factors driving sales profits are the availability of a wide range of sanitizers and hand wash products at exceptional prices, more options, better comparison facilities and deep discounts. Also, rising internet penetration and the increasing use of smartphones have impacted customers and manufacturers to choose the online sales model.
Regional Segment Analysis of Liquid Soap Market
• North America (US, Canada, Mexico)
• Europe (Germany, France, UK, Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, rest of APAC)
• South America (Brazil and the rest of South America)
• The Middle East and Africa (UAE, South Africa, Rest of MEA)
Among all regions, the North American region emerged as the largest market for the global liquid soap market, with a market share of about 33.4% and 15.24 billion of the market revenue in 2021. The people in the US give the preference for liquid soap compared to bar soap due to hygiene perspective. Customers in the ages of 19 and 25 prefer liquid soap over bar soap due to health and hygiene concerns, and global market participants such as Procter & Gamble, Colgate Palmolive Company and LUX. increase the need for the market in this region. Specialty stores and organized stores are driving the growth of the market in this region.
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Major Players in the Global Liquid Soap Market are:
• Christina May Ltd
• Cleenol Group Ltd
• Colgate Palmolive Co.
• Henkel AG & Co. KGaA
• Johnson & Johnson Services, Inc.
• As a company
• Kimberly-Clark Worldwide, Inc.
• Lion Corporation
• Reckitt Benckiser Group plc
• The 3M Company
This study forecasts sales at the global, regional, and country levels from 2019 to 2030. The Brainy Insights has segmented the global liquid soap market based on the segments below:
Global Liquid Soap Market Segment By Product: Introduction
• Wash face
• Surface cleaner
• Wash hands
Global Liquid Soap Market Segment By Application: Introduction
• Commercial break
Global Liquid Soap Market by Distribution Channel:
• Convenience store
• Specialty shops
• Online sales channel
About the report:
The global liquid soap market is analyzed by value (USD billion). All segments are analyzed on a global, regional and national basis. The study includes the analysis of more than 30 countries for each component. The report provides an in-depth analysis of drivers, opportunities, constraints and challenges for gaining critical insight into the market. The study includes Porter’s five forces model, attractiveness analysis, commodities analysis, supply, demand analysis, competitive position grid analysis, distribution and marketing channel analysis.
About The Brainy Insights:
The Brainy Insights is a market research firm, focused on providing actionable insights through data analytics to companies to improve their business acumen. We have a robust forecasting and estimation model to meet the client’s objectives in a short time to deliver high-quality output. We provide both customized (customer-specific) and syndicated reports. Our repository of syndicate reports is diverse across all categories and subcategories across domains. Our tailor-made solutions are tailor-made to meet customer requirements, whether they want to expand or plan to launch a new product in the global market.
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