Dublin, March 23, 2023 (GLOBE NEWSWIRE) -- The "Soap Noodles Market Size, Market Share, Application Analysis, Regional Outlook, Growth Trends, Key Players, Competitive Strategies and Forecasts, 2023 To 2031" report has been added to ResearchAndMarkets.com's offering.
The global soap noodles market is expected to grow at a CAGR of 3.5% during the forecast period of 2023 to 2031. Growing global penetration of liquid soaps and gels is predicted to be a significant deterrent to business expansion.
Companies Mentioned
- OIi Oleochemicals
- Wilmar International
- Jocil Limited
- KLK Oleo
- Timur Oleochemicals Malaysia
- EVYAP-OLEO
- Musim Mas Hodling Pte
- John Drury & Co Ltd
- M Bedforth& Sons
- Rubia Industries Limited
- Olivia Impex Private Limited
Soap noodles are either tallow (animal fat) or vegetable oil derivatives such as palm oil, olive oil, coconut oil, and palm kernel oil, which are widely utilized in the making of bar soap.
These soap noodles are commonly used in the production of all types of bar soaps and are available in a variety of formulations on the market. For the production of high-quality personal hygiene soap bars, the normal blend of 80:20 palm oil and palm kernel oil soap noodles is deemed to be the best grade.
Due to rising demand in the soap sector, the global market for soap noodles is projected to expand throughout the forecast period. The substance is used as a basic material in the creation of household and toilet soaps, with the addition of signature scents, pigments, and other additions. Depending on characteristics such as color, fatty acid content, and water content, the product's price varies widely around the world.
The interaction between sodium hydroxide and palm-based fatty acids/tallow produces a tiny noodle-shaped substance. 80:20, 70:30, 60:40, and 90:10 are common proportions of palm oil and kernel or coconut oil in the product's normal blend. In contrast, a mixture of 80% palm oil and 20% palm kernel or coconut oil is frequently used in industry due to its optimal balance of lather, cleaning ability, and hardness.
Consequently, product demand is anticipated to stay high during the forecast period. In addition, the rise of end-use industries is anticipated to drive demand for the product during the next seven years. In the past several years, aggressive sales promotions by both large and small businesses and the advent of functional soaps have had a significant impact on the demand for soaps and soap noodles.
Companies have been driven to offer aromatherapy, moisturizing, anti-bacterial, medicinal, and herbal soaps due to the intense competition among participants in a market with a high degree of fragmentation. As global demand for these products has increased, so has the demand for soap noodles.
The advent of functional soaps and the increasing demand for them are anticipated to propel the worldwide soap noodles market. Metropolitan populations residing in the metropolitan zones of emerging countries have begun to amass substantial amounts of discretionary income and are transforming into valuable clientele for numerous industrial operators. In spite of this, the demand for soaps to maintain cleanliness and simplicity of use has continually kept the soap market thriving.
With increased disposable income, parents and single men continually invest in skin health management, and retailers would do well to create 70:30 evaluations of soap noodles for these products. The development of innovative products such as natural soap, saturating soaps, and fragrant healing soap, as well as an increase in demand for hand fluid soaps, are some of the factors that are anticipated to contribute to the growth of the soap noodles market.
Increasing Consumer Preference for Soaps Made with Vegetable Oil
Different types of soap noodles exist based on the raw materials utilized, such as vegetable oil and tallow. In 2021, vegetable oil-based soap noodles outpaced tallow-based soap noodles in terms of market share. By their end-use applications, such as toilet soaps, laundry soaps, translucent soaps, high lather soaps, and medicated soaps, a variety of functional ingredients are utilized to make distinct varieties of soap noodles.
The ample supply of palm oil and the rise in consumer desire for the use of vegetable-based materials are anticipated to be the primary factors driving the vegetable oil market over the forecast period. Developing countries in the Asia-Pacific area mainly depend on palm oil to produce soap noodles.
The existence of important palm oil-producing nations in the region, especially Indonesia and Malaysia, has facilitated the availability of feedstock, which is the primary driver driving industry growth. Given that tallow is currently the best alternative to palm oil in the production of soap noodles, tallow-based soap noodles also offer profitable potential for market participants.
Saponification Production Process Dominates the Market by Process
In 2021, the saponification production process accounted for more than 50% of the soap noodles market. In the presence of an aqueous alkali, the process of saponification entails the transformation of oil or fat into soap noodles. This method is favored over the fatty acid pathway due to its operational simplicity and low cost. This method yields soap noodles with exceptional fragrance retention and a superb mix of oils.
Personal Hygiene Soap Dominates the Market by Application
It is anticipated that personal hygiene soap will continue to be the largest and fastest-growing application sector during the assessment period. Soap noodles with a total fatty matter (TFM) of over 75% are frequently used to produce high-quality toilet soaps. The personal hygiene category is expected to increase at a CAGR of more than 3% over the forecast period.
The increasing awareness of personal hygiene in developing nations and the rising government expenditures for the burgeoning retail sector are two of the most important reasons driving the global sales of soap noodles.
APAC Remains as the Global Leader
In 2021, Asia-Pacific emerged as the largest contributor to the global market for soap noodles, followed by Europe and North America. This trend is expected to continue throughout the study period. The increasing population in the region has led to an increase in demand for personal hygiene and laundry soap bars, which has contributed positively to the expansion of the soap noodles industry.
Additionally, the easy availability of vegetable oil in the region and the rising palm production are anticipated to contribute to the expansion of the market. China and India are anticipated to be the leading contributors to the expansion of the global market over the forecast period.
Asia-Pacific is also anticipated to be the fastest-growing market throughout the projection period, with end-user industries such as healthcare and personal care on the path of rapid growth. China is one of the largest soap noodle consumers and suppliers. Due to the abundance of raw materials in Malaysia and Indonesia, the bulk of soap noodle manufacturers is headquartered there.
The Market Remains Extremely Competitive
The market for soap noodles is forward-integrated. Large-scale manufacturers exist along the whole value chain, from the production of raw materials to completed goods.
Some of the factories produce soap noodles for both internal consumption and market selling. The market is subject to numerous ups and downs as a result of fluctuating palm oil production circumstances, which determine the cost of raw materials.
Due to the reliance of many nations on vegetable oil supplies, the fluctuating palm oil price has a significant effect on the global market.
The global market for soap noodles is extremely diverse, with a huge variety of small and large-scale manufacturers. IOI Oleochemicals, Wilmar International, Jocil Limited, KLK Oleo, Timur Oleochemicals Malaysia, EVYAP-OLEO, Musim Mas Holdings Pte, John Drury Co Ltd, M Bedforth Sons, Rubia Industries Limited, Olivia Impex Private Limited, and Others are among the market's competent manufacturers.
Historical Forecast Period
This study report represents an analysis of each segment from 2021 to 2031 considering 2022 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2023 to 2031.
Market Segmentation
Source
- Vegetable oil
- Tallow
Process
- Saponification Route
- Fatty Acid Route
Application
- Personal hygiene soap
- Laundry soap
- Multi-purpose soap
- Others
Key questions answered in this report
- What are the key micro and macro environmental factors that are impacting the growth of Soap Noodles market?
- What are the key investment pockets with respect to product segments and geographies currently and during the forecast period?
- Estimated forecast and market projections up to 2031.
- Which segment accounts for the fastest CAGR during the forecast period?
- Which market segment holds a larger market share and why?
- Are low and middle-income economies investing in the Soap Noodles market?
- Which is the largest regional market for Soap Noodles market?
- What are the market trends and dynamics in emerging markets such as Asia Pacific, Latin America, and Middle East Africa?
- Which are the key trends driving Soap Noodles market growth?
- Who are the key competitors and what are their key strategies to enhance their market presence in the Soap Noodles market worldwide?
For more information about this report visit https://www.researchandmarkets.com/r/axavmm
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