At present, consumers have become more aware about their hygiene, as the rate of viral diseases spreading is climbing day by day. The current COVID-19 pandemic is a live example of such contagious infections. Liquid soaps are considered as germ killers and prevent contracting infections. Governing bodies have been stressing on the need for people to wash their hands regularly to prevent such infectious diseases. According to the U.S. Department of Health & Human Services, a million deaths a year can be avoided if people routinely started cleaning their hands.
Liquid soap is gaining traction across the world, owing to the presence of lower pH level (pH is responsible for skin drying). Therefore, consumers are now preferring liquid soap over bar soaps that have higher pH levels.
On the back of these factors, the global liquid soap market is estimated to register a healthy CAGR of around 5% during the forecast period of 2020–2030.
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Key Takeaways from Liquid Soap Market Study
- Hand washing has become one of the most important parts of daily routine in present times, creating enormous demand for liquid hand washes, especially the natural/ organic type. As per the WHO, hand washing and bathing are the two primary effective ways of preventing the spread of diarrhoeal diseases.
- China is projected to drive the East Asia liquid soap market, which holds most of the sales across all regions. Large consumer base, high propensity for personal hygiene, and huge demand for bath & shower products in East Asia are projected to boost the sales of liquid soap in the region during the forecast period.
- South Asia is projected to be the fastest-growing liquid soap market, due to growing consumer awareness regarding personal hygiene, growth of supermarkets/ hypermarkets in India, high product availability at various third party e-Commerce channels, and affordable prices of liquid soap in the market.
- High adoption of liquid soap in households has made the residential sector an attractive space. Increasing personal hygiene practices to prevent diseases, especially among children and older individuals, is expected to fuel the growth of the liquid soap market. However, the commercial sector will experience a higher CAGR, owing to high demand from hotels & restaurants, corporates, etc.
- Based on price range, the liquid soap market is expected to see high demand for premium category liquid soaps, owing to increasing interest for natural/ organic liquid soaps, regardless of the high price.
- The COVID-19 pandemic has made people across the world focus more on personal hygiene. This has resulted in surging sales of toiletries, especially liquid soap, across verticals.
“Growing consumer inclination toward multi-purpose products can open up new opportunities for manufacturers in the liquid soap market, as very few companies are working on these varieties. This has huge potential to change the dynamics of the global liquid soap market,” says a PMR analyst.
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Key Players in Global Liquid Soap Market
PMR’s report underlines ground-breaking insights into the competitive scenario of the liquid soap market, along with highlights of differential strategies used by manufacturers. Some of the key players identified across the value chain of the global liquid soap market include Cleenol Group Ltd, Premier English Manufacturing (PREMCO), Unilever Plc, Amway Corporation, 3M(US), Lion Corporation, Medline, Vi-Jon, Henkel, Chattem Inc., Procter & Gamble Company, Colgate-Palmolive Company (Softsoap), Kao Corporation, and Bluemoon, among others.
Know More about Liquid Soap Market Report Inclusions
Persistence Market Research published a new market report on the liquid soap market, covering global industry analysis of 2014-2020 and forecasts for 2020–2030. This report on the liquid soap market provides compelling insights based on product (hand wash, body wash), source (natural/ organic), function (medicated, non-medicated), end use (residential, commercial), and sales channel (direct, indirect), across all regions. The report on the global liquid soap market also includes forecast factors and vital macroeconomic factors that are anticipated to boost the growth of the global market. The report also addresses restraints that are projected to hinder the growth of the liquid soap market, along with the latest trends and potential opportunities in the market space.
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