Portland, OR, May 03, 2022 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global antibacterial soap market generated $3.7 billion in 2020, and is projected to reach $6.9 billion by 2030, witnessing a CAGR of 6.3% from 2021 to 2030. The report provides a detailed analysis of changing market dynamics, top segments, value chain, key investment pockets, regional scenario, and competitive landscape.
Increase in burden of infectious diseases, rise in health-conscious people, and growth in awareness regarding health benefits of using antibacterial soaps drive the growth of the global antibacterial soap market. Moreover, surge in investments in R&D to promote adoption of the herbal and organic ingredients in the antibacterial soaps present new opportunities in the upcoming years.
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COVID-19 scenario:
- The outbreak of the COVID-19 pandemic positively impacted the growth of the global antibacterial soap market, owing to rise in demand for antibacterial soap.
- The trend is likely to continue post pandemic as well.
The report offers detailed segmentation of the global antibacterial soap market based on form, application, distribution channel, and region.
Based on form, the liquid segment held the highest market share in 2020, holding more than three-fifths of the total market share, and is expected to continue its leadership status during the forecast period. However, the powder segment is estimated to register the highest CAGR of 6.7% from 2021 to 2030.
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Based on application, the hand wash segment held the largest market share in 2020, holding 82% of the total market share, and is expected to continue its leadership status during the forecast period. However, the body wash segment is projected to register the highest CAGR of 7.1% from 2021 to 2030.
Based on region, North America contributed to the highest share in terms of revenue in 2020, holding more than one-third of the total market share, and is estimated to continue its dominant share by 2030. Moreover, Asia-Pacific is projected to manifest the fastest CAGR of 7.4% during the forecast period.
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The key players profiled in this report include 3M, Amway Corporation, Godrej Consumer Products Limited, GOJO Industries, Inc., Henkel AG & Co. KGaA, ITC Ltd., Reckitt-Benckiser Group PLC. , The Procter & Gamble Company, Unilever Plc., and Vi-Jon.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
