Growing consciousness about maintaining hygiene and bacteria free environment to drive global soaps market through 2025
According to TechSci Research report, “Global Soaps Market By Type, By Distribution Channel, By Region, Competition, Forecast & Opportunities, 2025”, the global soaps market is projected to grow at a steady pace and surpass $ 40 billion mark by 2025, on the back of rising consumer awareness about better hygiene coupled by increasing disposable income & urbanization, globally. Moreover, growing consumer demand for soaps with rising number of COVID-19 cases is further driving the soaps market across the globe. Additionally, increasing demand for organic, natural, handmade soaps and value-added soap products and surging online sales are some other factors that are anticipated to contribute to the growth of the global soaps market during the forecast period.
Browse 87 market data Figures spread through 110 Pages and an in-depth TOC on “Global Soaps Market”
In terms of distribution channel, the soaps market is categorized into traditional trade, modern trade and online. In 2019, Modern trade segment accounted for the majority share in the global soaps market, followed by Traditional Trade and Online segments. Online channel is expected to witness a healthy growth owing to growing sales of soaps from ecommerce websites and also on account of spread of COVID-19, globally. Moreover, rising government efforts in making people aware to wash their hands regularly through soaps to keep themselves safe from Coronavirus, will also aid in boosting the global soap market until 2025.
Regionally, the global soaps market is dominated by Asia-Pacific, followed by North America and Europe. Growth in APAC soaps market is majorly attributable to the region’s expanding population coupled with rapid urbanization and presence of major manufacturers of soaps in the region, especially in India and China. Among all the countries, United States soaps market accounted for more than one-fifth of the global soaps market in 2019. The growth in US soaps market is majorly due to the wide acceptance of various types of soaps like quick body showers and gels, which come under liquid soap category, and huge consumer base with high income levels and high awareness about importance of maintaining good hygiene.
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“Global soaps market is anticipated to register a healthy growth during forecast period. Growth in the market is led by rising consciousness about health, hygiene and wellbeing coupled with more than usual frequency of hand washing across the globe, predominantly on account of spread of COVID-19 pandemic. Moreover, loofahs paired with shower gels, add more convenience during showers than solid soaps, and this is the latest trend which the global soap market.is experiencing, which is expected to steer the market growth during the forecast period.” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
“Global Soaps Market By Type, By Distribution Channel, By Region, Competition, Forecast & Opportunities, 2025”, has evaluated the future growth potential of global soaps market and provides statistics and information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities in global soaps market.
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