Liquid Soap Market: Current Analysis and Forecast (2023-2030)
Emphasis on Nature (Organic, Natural, and Conventional); Product Type (Bath & Body Soaps, Dishwash Soaps, Laundry Soaps, and Others {Surface Cleaners and Car Wash Soaps}); Distribution Channel (Direct Sales, Hypermarket/Supermarket, E-Commerce, and Others {Pharmacies, Specialty Stores, Convenience Stores}); Application (Household, Commercial, and Others {Hospitality, Healthcare, Food Services}); and Region/Country
Global Liquid Soap Market globally, is expected to reach USD 19 Billion in 2030 by growing at a CAGR of 6%. Liquid soap which was launched a decade ago, is now a strong competitor of traditional bathing and laundry bars. Easy-to-squeeze containers, coupled with widely available refillable packs along with a variety of fragrances. The ease & convenience offered by liquid form over solid bars coupled with its efficiency in controlling viral & bacterial disease spread across all regions in the world has resulted in gaining popularity. Moreover, new entrants are coming up with novel product formations and innovative packaging designs which are creating a competitive environment in the market. Furthermore, increasing hygiene awareness in developing countries such as India, Brazil, and South Africa is expected to boost product demand.
GSK plc; Unilever; P&G; Colgate-Palmolive Company; Cleenol Group Ltd; Christina May Ltd; Godrej; Reckitt Benckiser; Henkel AG & Co. KGaA; Kao Chemicals are some of the key players in the market. Several M&As along with partnerships have been undertaken by these players to facilitate customers with hi-tech and innovative products/technologies.
Insights Presented in the Report
“Amongst Product type, bath & body soap category held the major share during the forecast period”
Based on product type, the market is segmented into bath & body soaps, dish wash soaps, laundry soaps and others. Bath & body soap category is expected to retain its position during the forecast period. The major factor which helps in propelling the category is due to preference for skin beauty products that promote healthy skin, a rise in consumer affordability and other similar factors.
“Amongst distribution channel, the hypermarket/supermarket held a significant share in the market”
On the basis of distribution channel, the market is categorized into direct sales, hypermarket/supermarket, specialty stores, convenience store, pharmacies, e-commerce, and others. Among these, the hypermarket/supermarket held a significant share of the market during the forecasted period. As they stock all essential items in one location which allows customers to purchase everything from a single location and compare prices in accordance with their budget.
“Amongst nature, the organic category held a significant share in the market”
On the basis of Nature, the market is categorized into organic, natural and conventional. Among these, the organic category held a significant share in the market because of their affordability and wide availability of fragranced soaps. As consumers becoming more conscious with respect to cleanliness and sanitation the manufacturers have deeply focused on incorporating fragrances such as vanilla, melon, peach, apricot, and others into their liquid soaps.
“North America held a significant share in the market”
North America is the biggest market for Liquid soaps. The major factors which helps in propelling the growth of the region includes increasing sensitivity towards cleanliness, flourishing hotel & resort business. Furthermore, rise in income level has resulted in increase of premium products has helped the market to expand in the region. People in the region prefer liquid soaps having antibacterial properties, calming fragrances and natural ingredients which also helps the market to retain its position in the region.
Liquid Soap Market Report Coverage
Reasons to buy this report:
- The study includes market sizing and forecasting analysis validated by authenticated key industry experts.
- The report presents a quick review of overall industry performance at one glance.
- The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolio, expansion strategies, and recent developments.
- Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry.
- The study comprehensively covers the market across different segments.
- Deep dive regional level analysis of the industry.
Customization Options:
The global liquid soap market can further be customized as per the requirement or any other market segment. Besides this, UMI understands that you may have your own business needs, hence feel free to connect with us to get a report that completely suits your requirements.
Table of Contents
Research Methodology for the Liquid Soap Market Analysis (2023-2030)
Analyzing the historical market, estimating the current market, and forecasting the future market of the global liquid soap market were the three major steps undertaken to create and analyze the adoption of the liquid soap market in major regions globally. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the liquid soap market. Post assumption and validation of market numbers through primary interviews, we employed a top-down/bottom-up approach to forecasting the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments of the industry pertains to. Detailed methodology is explained below:
Analysis of Historical Market Size
Step 1: In-Depth Study of Secondary Sources:
Detail secondary study was conducted to obtain the historical market size of the liquid soap market through company internal sources such as annual reports & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.
Step 2: Market Segmentation:
After obtaining the historical market size of the liquid soap market, we conducted a detailed secondary analysis to gather historical market insights and share for different segments & sub-segments for major regions. Major segments are included in the report as nature, product type, distribution channel, and application. Further country-level analyses were conducted to evaluate the overall adoption in that region.
Step 3: Factor Analysis:
After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of the liquid soap market. Further, we conducted factor analysis using dependent and independent variables such as cleanliness and urbanization. A thorough analysis was conducted for demand and supply-side scenarios considering top partnerships, mergers and acquisitions, business expansion, and product launches in the Liquid soap market sector across the globe.
Current Market Size Estimate & Forecast
Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the liquid soap market, and market shares of the segments. All the required percentage shares split and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.
Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., the top-down/bottom-up approach were applied to arrive at the market forecast for 2030 for different segments and sub-segments across the major markets globally. The research methodology adopted to estimate the market size encompasses:
- The industry’s market size, in terms of revenue (USD) and the adoption rate of the liquid soap market across the major markets domestically
- All percentage shares, splits, and breakdowns of market segments and sub-segments
- Key players in the global liquid soap market in terms of products offered. Also, the growth strategies adopted by these players to compete in the fast-growing market
Market Size and Share Validation
Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.
Split of Primary Participants in Different Regions
Market Engineering
The data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers for each segment and sub-segment of the liquid soap market. Data was split into several segments & sub-segments after studying various parameters and trends in the areas of nature, product type, distribution channel, and application in the global liquid soap market.
The main objective of the global liquid soap market Study
The current & future market trends of the global liquid soap market were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments on the qualitative and quantitative analysis performed in the study. Current and future market trends determined the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit from a first-mover advantage. Other quantitative goals of the studies include:
- Analyze the current and forecast market size of the liquid soap market in terms of value (USD). Also, analyze the current and forecast market size of different segments and sub-segments.
- Segments in the study include areas of nature, product type, distribution channel, and application.
- Define and analysis of the regulatory framework for the liquid soap industry.
- Analyze the value chain involved with the presence of various intermediaries, along with analyzing customer and competitor behaviors of the industry.
- Analyze the current and forecast market size of the liquid soap market for the major region.
- Major countries of regions studied in the report include Asia Pacific, Europe, North America, and the Rest of the World.
- Company profiles of the liquid soap market and the growth strategies adopted by the market players to sustain in the fast-growing market
- Deep dive regional level analysis of the industry
Frequently Asked Questions FAQs
Q1: What is the current market size and growth potential of the global liquid soap market?
Q2: What are the driving factors for the growth of the global liquid soap Market?
Q3: Which segment has the largest share of the global liquid soap market by Nature?
Q4: What are the emerging technologies and trends in the global liquid soap market?
Q5: Which region will dominate the global liquid soap market?
Q6: Who are the key players operating in the global liquid soap market?
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