The global liquid soap market size is projected to be worth USD 28.79 billion by the end of 2027 on account of the increasing awareness and serious adoption of health and hygiene protocols. According to a recent report by Fortune Business Insights titled, “Liquid Soap Market Size, Share & Industry Analysis, By Product Type (Bath & Body Soaps, Dish Wash Soaps, Laundry Soaps, Others), Application (Household and Commercial), Distribution Channel (Hypermarkets/Supermarkets, Convenience Stores, Online Channels, and Others), and Regional Forecast, 2020-2027,” the value of the market stood at USD 17.48 billion in 2019 and is likely to rise at a CAGR of 5.9% between 2020 and 2027.
The emergence of COVID-19 has brought the world to a standstill. We understand that this health crisis has brought an unprecedented impact on businesses across industries. Rising support from governments and several companies can help in the fight against this highly contagious disease. Some industries are struggling, and some are thriving.
Fortune Business Insights™ lists out the names of key Liquid Soap manufacturers. This includes:
- The 3M Company (U.S.)
- Johnson & Johnson Services, Inc. (U.S.)
- Colgate-Palmolive Co.(U.S.)
- Reckitt Benckiser Group plc (U.K.)
- Lion Corporation (Japan)
- Procter & Gamble Co. (U.S.)
- Kao Corporation (Japan)
- Kimberly-Clark Worldwide, Inc. (U.S.)
- Unilever (U.K.)
- Henkel AG & Co. KGaA (Germany)
- Other vendors
- What is the competitive landscape?
- How will favorable population dynamics impact the liquid soap market?
- What are the current developments in the market?
Drivers & Restraints-
Advent of Innovative Soap Dispenser to Bolster Growth
Bath & Body Soaps Segment to Dominate Market on Account of Increasing Inclination Towards Good Hygiene Practices
Based on product type, the bath & body soaps segment earned 58.74% liquid soap market share in 2019 on account of the increasing preference for following good hygiene standards and maintaining the cleanliness of the body.
North America holds significant share in global market.
In 2019, Asia Pacific earned a revenue of USD 6.12 billion and emerged dominant. Asia Pacific market is likely to continue its dominance in the forecast period on account of the presence of the highest population, evolving hotel management industry, and rise in awareness about the importance of hygiene.
Players Investing Massively on Product Expansion to maintain Foothold in the Market
Some of the Key Industry Developments of the Liquid Soap Market include:
January 2020 – A new dish soap in the form of spray was introduced by the brand of Procter & Gamble called Dawn for cleaning utensils.
Bronner’s Magic Soaps Company in China via the global platform called ‘Alibaba’. This store offers peppermint-scented liquid soap manufactured by the company to its Chinese consumers.