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Liquid Soap Market Size, Industry Analysis Report By Application (Hand Wash, Body Wash, Dish Wash), By end-use (Household, Commercial, Hospitality Industry, Healthcare Industry, Foodservice Industry), By Distribution Channel (Direct Sales, Hypermarket/Supermarket, Specialty Stores, Convenience Store, Pharmacies, Online Retailers) & Region – Forecasts

  • PUBLISHED ON
  • 2024-10-03
  • NO OF PAGES
  • 254
  • CATEGORY
  • Retails & Consumer
The Liquid Soap Market: Overview
Liquid hand soap market size exceeded USD 2,782 million in ----- and is estimated to register at a CAGR of 7.2% over the forecast period. Liquid soaps have a wide range of applications. The main purpose of liquid soap is for hand washing. Liquid soaps are used for hand cleaning in hospitals, shopping centers, retail stores, cafes, hotels, public toilets, and other locations. In numerous businesses around the world, multi-functional soaps, shower gel soaps, & hand soaps are also growing in popularity. Dish soaps also contain a variety of substances that aid in good cleaning. The focus of the manufacturers of these liquid soaps is on innovation and inventive marketing. The major elements that contribute to the successful marketing and sales of liquid soaps are the use of organic, skin-friendly components, gentle aromas, and various flavors.

The Liquid Soap Market- Growth Factors
Factors such as the increasing demand from emerging economies and the growing popularity of organic and natural soaps will have a positive impact on the growth of the global liquid soap market throughout the forecast period. For example, in 2017, HUL launched a new variant of Lifebuoy’s liquid soap portfolio comprising a natural variant in three variants--lemon fresh, chamomile fresh, and aqua pine. It has 0% TFM (total fatty matter) that enables skin hydration and smoothness. In recent years, there has been a considerable increase in raw material prices owing to rising crude oil prices, which has impacted profitability margins for manufacturers globally. This fluctuation in raw material prices is anticipated to affect vendors operating in the global liquid soap market over the next five years. On the other hand, since liquid soaps are more expensive than bar soaps, the market for them is finding it difficult to grow. Bar soaps have become the most popular type of soap and are preferred over liquid soaps mostly due to their affordability. The main cause of rising prices is the utilization of texturizing chemicals and oils and fats in the production of soap. The price increases even further if natural perfumes and essential oils are employed. Due to their price range, bar soaps are typically preferred over liquid soaps by people on a tight budget or with limited money.

The Liquid Soap Market – Market Trends
• Organic soaps are becoming more popular, especially among millennials.
• Higher disposable income and growing interest in personal hygiene are fueling the market for high-quality products.
• The rising use of liquid soap as an alternative to bar soaps, especially in developing countries such as India and China will continue to drive the market growth.
• The Liquid Soap Market is poised for huge growth in the coming years.

The Liquid Soap Market – Segmentation
The Liquid Soap Market on the basis of Application, the market is fragmented into:
• Hand Wash
• Body Wash
• Dish Wash

The Liquid Soap Market on the basis of Nature, the market is categorized into:
• Organic
• Natural
• Conventional

The Liquid Soap Market on the basis of end-use, the market is classified into:
• Household
• Commercial
• Hospitality Industry
• Healthcare Industry
• Foodservice Industry
• Others

The Liquid Soap Market on the basis of distribution channel, the market is categorized into:
• Direct Sales
• Hypermarket/Supermarket
• Specialty Stores
• Convenience Store
• Pharmacies
• Online Retailers
• Other Sales Channel

The Liquid Soap Market –Regional Analysis
In 2020, Europe and East Asia had the two greatest market shares for liquid soap. China is a crucial nation that contributed to the majority of regional sales and is predicted to lead the market going forward. Furthermore, it is predicted that South Asia's share of the liquid soap market would expand at the greatest pace (8.5%) during the forecast timeframe due to rising consumer hygiene standards, high online platform penetration, and an increase in the number of competitive goods in the region.

The Liquid Soap Market – Key Market players
The major players in the market are Cleenol Group Ltd, Medline, Procter & Gamble Company, Premier English Manufacturing (PREMCO), Amway Corporation, Unilever Plc, 3M(US), Lion Corporation, Vi-Jon, Henkel, Chattem Inc., Colgate-Palmolive Company (Softsoap), Kao Corporation, and Bluemoon, among others.

Report scope
Global Liquid Soap Market: Historical Years- 2018-2021
Global Liquid Soap Market: Forecast Years- 2022-2030
Global Liquid Soap Market 2022- USD 2,782 million
Global Liquid Soap Market CAGR- 7.2%

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Case Study- Automotive Sector

One of the key manufacturers of automotive had plans to invest in electric utility vehicles. The electric cars and associated markets being a of evolving nature, the automotive client approached We Market Research for a detailed insight on the market forecasts. The client specifically asked for competitive analysis, regulatory framework, regional prospects studied under the influence of drivers, challenges, opportunities, and pricing in terms of revenue and sales (million units).

Solution

The overall study was executed in three stages, intending to help the client meet its objective of precisely understanding the entire market before deciding on an investment. At first, secondary research was conducted considering political, economic, social, and technological parameters to get a gist of the various aspects of the market. This stage of the study concluded with the derivation of drivers, opportunities, and challenges. It also laid substantial emphasis on understanding and collecting data not only on a global scale but also on the regional and country levels. Data Extraction through Primary Research

The second stage involved primary research in which several market players and automotive parts suppliers were contacted to study their viewpoint concerning the development of their market and production capacity, clientele, and product line. This stage concluded in a brief understanding of the competitive ecosystem and also glanced through the strategies and pricing of the companies profiled.

Market Estimates and Forecast

In the final stage of the study, market forecasts for the electric utility were derived using multiple market engineering approaches. This data helped the client to get an overview of the market and accelerate the process of investment.

Case Study- ICT Sector

Business process outsourcing, being one of the lucrative markets from both supply- and demand- side, has appealed to various companies. One of the prominent corporations based out of Japan approached us with their requirements regarding the scope of the procurement outsourcing market for around 50 countries. Additionally, the client also sought key players operating in the market and their revenue breakdown in terms of region and application.


Business Solution

An exhaustive market study was conducted based on primary and secondary research that involved factors such as labor costs in various countries, skilled and technical labors, manufacturing scenario, and their respective contributions in the global GDP. A comparative study of the market was conducted from both supply- and demand side, with the supply-side comprising of notable companies, such as GEP, Accenture, and others, that provide these services. On the other hand, large manufacturing companies from them demand-side were considered that opt for these services.


Conclusion

The report aided the client in understanding the market trends, including country-level business scenarios, consumer behavior, and trends in 50 countries. The report also provided financial insights of crucial players and detailed market estimations and forecasts till 2033.


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