Pune, India, July 11, 2023 (GLOBE NEWSWIRE) -- The global liquid soap market size was valued at USD 21.18 billion in 2022 and is projected to expand from USD 22.46 billion in 2023 to USD 35.70 billion by 2030, exhibiting a CAGR of 6.84% during the study period.
The rise is driven by the growing launch of an array of products by leading companies. Fortune Business Insights™ provides this information in its research report, titled “Liquid Soap Market, 2023-2030”.
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List of Key Players Profiled in the Liquid Soap Market Report:
- Procter & Gamble (U.S.)
- Henkel AG & Co. KGaA (Germany)
- Colgate-Palmolive Company (U.S.)
- Unilever (U.K.)
- Reckitt Benckiser Group plc (U.K.)
- Kimberly-Clark Worldwide, Inc. (U.S.)
- The 3M Company (U.S.)
- Lion Corporation (Japan)
- Kao Corporation (Japan)
- Johnson & Johnson Services, Inc. (U.S.)
Report Scope & Segmentation:
| Attributes | Details |
| Forecast Period | 2023-2030 |
| Forecast CAGR | 6.84% |
| 2030 Value Projection | USD 35.70 Billion |
| Market Size in 2022 | USD 21.18 Billion |
| Historical Data | 2019-2021 |
| No. of Pages | 175 |
| Report Coverage | Revenue Forecast, Company Profiles, Competitive Landscape, Growth Factors and Latest Trends |
| Segments Covered |
|
| Regions Covered |
|
| Liquid Soap Market Growth Drivers | Increasing Consciousness Regarding Hygiene and Health is Promoting Growth |
| Natural and Organic Products are Anticipated to Add Impetus to Market |
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Segments:
Bath & Body Soap Segment to Dominate the Market Owing to Awareness Regarding Personal Hygiene
On the basis of product, the market is fragmented into dish wash soaps, bath & body soaps, laundry soaps, and others. The bath & body soap segment is set to dominate the market, exhibiting an appreciable upsurge over the estimated period. The surge is propelled by an increase in personal hygiene awareness across various regions.
Household Segment to Depict Substantial Surge Impelled by Extensive Usage
On the basis of application, the market is bifurcated into commercial and household. The commercial segment is poised to expand at a lucrative pace over the study period. The expansion is impelled by the increased product deployment for bathing and handwashing purposes.
Hypermarkets/Supermarkets Segment to Lead Owing to Convenience in Bulk Purchasing
Based on distribution channels, the market is segmented into convenience stores, supermarkets/hypermarkets, online sales channels, and others. The supermarkets/hypermarkets segment is slated to expand at a notable rate over the forecast period. The growth is propelled by the easy availability of the product at these locations.
Based on geography, the market for liquid soap has been studied across Asia Pacific, North America, Europe, South America, and the Middle East & Africa.
Regional Analysis-
Asia Pacific to Emerge as Leading Region Impelled by Soaring Sensitivity Toward Cleanliness
The Asia Pacific liquid soap market share is estimated to depict considerable expansion over the forecast period. The rise is driven by the soaring income level of households and the presence of highly populous countries in the region.
The North America market is poised to expand at a substantial CAGR over the analysis period. The growth is impelled by the extensive availability and consumption of the product in the region.
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Competitive Landscape-
Major Players Strike Collaborative Deals to Strengthen Industry Foothold
Leading companies are focused on adopting a range of strategies for reinforcing the positions of their businesses. These comprise merger agreements, partnerships, acquisitions, and the launch of new solutions. Besides, some companies are participating in trade conferences to exhibit their products and enhance their business prospects.
Drivers & Restraints-
Industry Value to Rise Due to Growing Consciousness Regarding Health and Hygiene
The liquid soap market growth is being impelled by increasing consciousness among the global population regarding sanitation and the maintenance of hygiene. The industry expansion is further impelled by the increasing adoption of cleaning products for preventing infectious diseases.
However, the presence of toxic ingredients such as triclosan and paraben may hamper industry expansion to a considerable extent.
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Detailed Table of Contents:
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Emerging Trends
- Key Insights
- Overview of the Parent/Related Markets
- Industry SWOT Analysis
- Regulatory Analysis
- Recent Industry Developments - Policies, Partnerships, New Product Launches, and Mergers & Acquisitions
- Global Liquid Soap Market Analysis, Insights, and Forecast, 2016-2027
- Key Findings / Summary
- Market Size Estimates and Forecast
- By Product Type (Value)
- Bath & Body Soaps
- Dish Soaps
- Laundry Soaps
- Others
- By Application (Value)
- Household
- Commercial
- By Distribution Channel (Value)
- Convenience Stores
- Supermarkets/Hypermarkets
- Online Stores
- Others
- By Region (Value)
- North America
- Europe
- Asia Pacific
- South America
- Middle East & Africa
- By Product Type (Value)
TOC Continued…!
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Key Industry Developments:
- April 2020 – Stephenson Personal Care rolled out its new liquid soap base dubbed ‘Liquid Soap 2020’. The product was launched for supporting the surging liquid soap demand during the coronavirus pandemic.
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