The liquid soap market is expected to maintain a steady growth with a moderate Compound Annual Growth Rate (CAGR) of 6.4% throughout the forecast period. Projections indicate that the global market’s revenue, estimated at US$ 18.4 billion in 2022, is poised to exceed US$ 34.22 billion by the conclusion of 2032.
The liquid soap market faces challenges in growth due to the higher prices compared to bar soaps. Many consumers opt for bar soaps primarily because they are more affordable and widely used. The main factors contributing to the higher cost of liquid soaps are the oils, fats, and texturizing chemicals used in their production. Moreover, if natural fragrances and essential oils are incorporated, the price rises further. Individuals with limited budgets tend to favor bar soaps over liquid ones due to their affordability.
As bathing continues to gain significance as a therapeutic activity, let alone its hygiene aspect, consumers are continuously seeking products that can aid them in relaxing their mind and body in most natural way possible. This has further created an opportunity for liquid soap brands to deliver solutions that complement healing and de-stressing for consumers naturally through liquid shower and bath products.
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Global Liquid Soap Market Outlook
Today’s consumers endure with various kind of bacteria or germs knowingly or unknowingly from day-to-day life. No matter one is working, sleeping, playing or doing any regular activities gives exposure to various such harmful enmities. Now that there is a rise in awareness about such exposure to various harmful bacteria and virus, consumers are now taking necessary steps and figuring out ways to deal with such issues. Consumers have been taking preventive measures by being much more hygienic and clean in their day-to-day life.
Owing to consumers inclination towards hygienic lifestyle, several major shareholding consumer goods companies are now strategizing on coming up with products which promotes healthcare as well as cleanliness. Liquid soaps are one such product which has been gaining traction among its target segments for the above-mentioned causes. Liquid soaps are widely being used in the household as well as the commercial sectors which include offices, shopping malls, and other public venues.
Global Liquid Soap Market: Reasons for Covering this Title
Today’s consumers are widely being exposed to various information which includes hygiene and clean lifestyle through various media and online channels. Owing to the rise in awareness about various benefits associated with healthy and hygienic lifestyle, consumers are being more and more conscious about cleanliness factor which they have adopted in their day-to-day life. Moreover, the consumer looks out for compatible or portable hygienic products for which they can use anytime anywhere.
Liquid soaps are one such hygienic products that cater to consumers’ needs and requirements. There are various benefits associated with the use of liquid soap. Liquid soaps help reduces the number of germs and bacteria effectively. Liquid soaps also protect against other forms of contamination such as climatic effects, hazardous chemicals, and infections.
Key Players
Some of the key players operating in the global Liquid Soap market are
- GlaxoSmithKline
- Unilever
- LES ROBINETS PRESTO S.A.
- Colgate-Palmolive Company
- Premier English Manufacturing
- Cleenol Group Ltd.
- Christina May Ltd.
- Godrej
- Reckitt Benckiser Group plc.
- Hindustan Unilever
- Henkel Corporation
- Others
Liquid Soap Market: Key Trends
Major Liquid Soap manufacturers strategize on coming up with a line of new and innovative products which caters to the needs and requirements of its target customers and simultaneously extending its product offerings.
Liquid Soap Market: Key Developments
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- In 2018, Schmidt’s Naturals launched a line of body wash liquid soaps available in two scents i.e. Jasmine Tea and Cedarwood + Juniper.
- In 2017, Dial announced the launch of three new products of body wash and foaming hand wash for the North American market.
- Owing to the rise in demand for liquid soaps, some of the major retail companies such as Target launched a line of liquid soaps under the private label brand ‘Smartly’.
Opportunities for Liquid Soap Market Participants
With the rise in industrialization, these sectors now strategize on maintaining a hygienic and a clean environment. For which these industrial sectors now follow protocols and laws such as GMP (Good Manufacturing Practices), 5S etc which also demand for clean and tidy workers and employees as well. Moreover, in the healthcare and pharmaceutical industries, it is mandatory the doctors, nurses and other staff to have clean, bacteria-free hands while they work. This is where liquid soap comes into the picture which caters to these specific requirements. Thus these critical factors provide an immense opportunity for liquid soap market to grow significantly in terms of value sales.
Brief Approach to Research for Liquid Soap Market
FMI will follow a modeling-based approach and triangulation methodology to estimate data covered in this report. A detailed market understanding and assessment of the nature, formats, and application of the coconut water concentrate segments covered in the study is followed by carrying out a demand-side approach to estimate the sales of target product segments, which is then cross-referenced with a supply-side assessment of value generated over a pre-defined period. The statistics and data are collected at a regional level, consolidated and synthesized at a global level to estimate the overall Liquid Soap market sizes.
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Key Data Points Covered in the Report
Some of the key data points covered in our report include:
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- An overview of the Liquid Soap market, including background and evolution
- Macroeconomic factors affecting the Liquid Soap market and its potential
- Liquid Soap Market dynamics, such as drivers, challenges, and trends
- Detailed value chain analysis of the Liquid Soap market
- The cost structure of the products and segments covered in the study for Liquid Soap Market
- In-depth pricing analysis, by key product segments, regions and by major Liquid Soap market participants
- Analysis of supply and demand, such as top producing and consuming geographies, imports/exports, and overall trade scenario for Liquid Soap
- Analysis of the Liquid Soap market structure, including a tier-wise categorization of key market participants
- Competitive landscape of the Liquid Soap market, including detailed profiles of the top players in this market
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The research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to market segments such as geographies, application and industry.
The report covers exhaustive analysis on
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- Market Segments
- Market Dynamics
- Market Size
- Supply & Demand
- Current Trends/Issues/Challenges
- Competition & Companies involved
- Technology
- Value Chain
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Regional analysis includes
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- North America (U.S., Canada)
- Latin America (Mexico, Brazil, Argentina, Chile, Peru)
- Western Europe (Germany, Italy, France, U.K., Spain, BENELUX, Nordic, Eastern Europe)
- CIS and Russia
- Asia-Pacific (China, India, ASEAN, South Korea)
- Japan
- Middle East and Africa (GCC Countries, South Africa, Turkey, Iran, Israel)
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The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
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Key Segmentation
On the basis of nature
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- Organic
- Natural
- Conventional
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On the basis of application
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- Hand Wash
- Body Wash
- Dish Wash
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On the basis of end use
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- Household
- Commercial
- Hospitality Industry
- Healthcare Industry
- Foodservice Industry
- Offices and other industrial sectors
- Shopping Malls
- Salons & Spa
- Others
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On the basis of the sales channel
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- Direct
- Indirect
- Hypermarket/Supermarket
- Convenience Store
- Specialty Store
- E-Retailers
- Club Stores
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Author
Sneha Varghese (Senior Consultant, Consumer Products & Goods) has 6+ years of experience in the market research and consulting industry. She has worked on 200+ research assignments pertaining to Consumer Retail Goods.
Her work is primarily focused on facilitating strategic decisions, planning and managing cross-functional business operations, technology projects, and driving successful implementations. She has helped create insightful, relevant analysis of Food & Beverage market reports and studies that include consumer market, retail, and manufacturer research perspective. She has also been involved in several bulletins in food magazines and journals.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer, Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of ~400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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