New York, United States, Oct. 14, 2022 (GLOBE NEWSWIRE) -- The Global Liquid Hand Soap Market Size is projected to grow from USD 21.0 billion in 2021 to USD 238.59 billion by 2030 at a CAGR of 31% during the forecast period. as per the latest research report by Spherical Insights & Consulting; The Europe is expected to grow the fastest during the forecast period.
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Hand-liquid hand soap is made specifically to clean and wash hands. Liquid hand soap is the most widely used and well-liked detergent product category. Liquid hand soaps can be made with a range of substances and have various properties. Liquid hand soap contains a number of different chemicals, including an anionic surfactant, a cocamide DEA surfactant, coco betaine as an amphoteric surfactant, an opaque substance to make it opaque, a colour, a fragrance, glycerine to avoid hand outside conditions, and others. Additionally, a substance that produces liquid hand soap that is antimicrobial. Children's liquid hand soap can be made with gentle ingredients. As consumer awareness of hygiene and safety grows, there will certainly be an increase in the demand for liquid hand soap in the near future. The principal agents that propagate sickness are bacteria and germs. The demand for liquid hand soaps is also predicted to rise significantly in the near future as consumer expenditure on various personal hygiene products increases. The emergence of Covid-19 and other infectious diseases, such as H1NI, has led to a surge in the need for liquid hand soaps in a variety of locations, including restaurants, malls, hospitals, offices, and many other places of this sort. It is projected that in the near future, demand for liquid hand soaps would rise in the global liquid hand soap market due to government recommendations to stop the spread of coronavirus, such as advising people to wash their hands regularly.
Browse key industry insights spread across 230 pages with 128 market data tables and figures & charts from the report “Global Liquid Hand Soap Market Size, Share, and COVID-19 Impact Analysis, By Packaging Type (Bottle, Pouch, and Tube), By Application (Household and Commercial), By Nature (Synthetic and Organic), By Distribution Channel (Supermarkets, Pharmaceutical Stores, Online Stores, and Convenience Stores), By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2021 – 2030 ” in detail along with the table of contents.
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This research report categorizes the market for liquid hand soap based on various segments and regions and forecasts revenue growth and analysis trends in each of the submarkets. The report analyses the key growth drivers, opportunities, and challenges that influence the liquid hand soap market. Recent market developments and competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included in order to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segments of the liquid hand soap market.
Based on the packaging type the Liquid Hand Soap market is categorized into bottle, pouch, and tube. The bottle packaging segment is likely to expand at high CAGR during the forecast period. The market size is being supported by the incorporation of hand washes into flexible packaging types as liquid hand dispensers. In order to reduce waste, Unilever, a well-known producer of consumer goods, has also developed a novel, reusable packaging for anti-fatigue hand wash. Due to its simplicity of use and reduced danger of infection or communicable disease, spray mouth bottles are widely used in both the domestic and commercial sectors. This has elevated demand.
Based on nature the market is fragmented into synthetic and organic. The synthetic segment is likely to hold a high CAGR during forecast period. Because synthetic liquid hand soap effectively kills bacteria and other microbes, consumers overwhelmingly prefer it. It is made of artificial chemical substances. Due to its potent fast-acting qualities and power to inactivate or destroy bacteria, synthetic liquid hand soap has seen a rise in demand as a result of the present COVID-19 pandemic. Global demand for liquid hand soaps has increased as a result of consumers' fast expanding hygiene concerns. Due to the many benefits these goods have over their alternate applications, the market demand for liquid hand wash soaps is anticipated to rise. In order to reduce their manufacturing costs and, as a result, lower product prices, market participants are making swift investments in sourcing local raw resources.
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Based on region, the Liquid Hand Soap Market is segmented into North America, Europe, Asia Pacific, South America, and Middle East & Africa. The Asia Pacific market is likely to grow at a significant CAGR during the forecast period. Increasing hygiene awareness, the presence of a sizable number of important competitors, and the introduction of innovative products in the region are expected to propel market expansion in the approaching years. Additionally, a growing population in this area will open up incredible sales opportunities for domestic and commercial applications of liquid hand soap.
Due to the presence of highly developed countries in the region, the demand for liquid hand soap is expected to be significant in Europe. Favorable government programs like organic product certification and eco labels are encouraging business players to produce organic products, which is causing a substantial market expansion for liquid hand soap made from organic ingredients. Due to increased environmental awareness, businesses are also employing recycled plastic for packaging, which is boosting the market in the region.
Key Companies & Recent Developments
The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Global market is fragmented, and key players include Unilever, Henkel, Colgate-Palmolive, Procter & Gamble, 3M, Reckitt, Johnson & Johnson Consumer Inc., Gojo Industries, and others. Manufacturers operating in the market are keenly showing interest in the liquid hand soap market owing to emergence of infectious diseases such as COVID-19 and its extensive use in household and commercial application.
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