The global liquid soap market size is expected to reach USD 26.64 billion by 2025, according to a new report by Grand View Research, Inc. It is projected to expand at a CAGR of 5.34% during the forecast period. Rising us as a hygienic and convenient product is expected to drive the demand for liquid soap in commercial and residential application. High daily household consumption as a result of its excellent anti-bacterial properties and soothing fragrance is anticipated to further fuel the product demand.
Growing awareness regarding health and hygiene, especially among working class population is expected to promote the use of liquid soap products in household application. These products are available in fancy bottles with dispensers and are convenient to use. Commercial application is expected to expand at a CAGR of 4.5% from 2019 to 2025. Hotels, shopping malls, commercial real estate buildings, and hospitals are the major consumers in the market. Rising importance of facility management in these application areas as a result rising focus on personal hygiene of consumers is expected to promote the use of liquid soaps.
Asia Pacific is expected to witness fastest CAGR of 6.7% from 2019 to 2025. Growing awareness regarding health and hygiene, among consumers in developing countries such as China and India is expected to boost the product demand. Europe holds the second position in global liquid soap market.
Online distribution channel is expected to witness a CAGR of 7.8% from 2019 to 2025. Rising consumer preference due to the ease of product comparison coupled with doorstep delivery services offered by e-commerce portals is projected to boost the segment growth over the forecast period. Some of the key e-commerce portals include Amazon, AliExpress, Alibaba, and Flipkart among others.
Key players operating in this market include Reckitt Benckiser Group plc; Procter & Gamble; Godrej Consumer Products; Unilever; 3M; Lion Corporation; GOJO Industries, Inc.; Kao Chemicals; Bluemoon Bodycare; NEW AVON LLC.; and Pental Products. Companies are offering innovative products to gain greater market share. In Jun 2019, Reckitt Benckiser launched a wide range of products including bathing soaps, hand washes, and liquid soap among others under the brand name, Dettol. These products are claimed as free from parabens, talc, and dyes.
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Liquid Soap Market Report Highlights
• Conventional products is projected to expand at a CAGR of 5.0% from 2019 to 2025
• Household application segment held the leading market share of 61.5 % in 2018
• Asia Pacific held the leading market share of 35% in 2018
• Major players operating in the liquid soap market are Unilever; Reckitt Benckiser Group plc.; Procter & Gamble; Pental Products; NEW AVON LLC.; Lion Corporation; Kao Chemicals; GOJO Industries, Inc.; Godrej Consumer Products; Bluemoon Bodycare; and 3M
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Liquid Soap Market Segmentation
Grand View Research has segmented the global liquid soap market on the basis of product, application, distribution channel, and region:
Liquid Soap Product Outlook (Revenue, USD Billion, 2015 – 2025)
Liquid Soap Application Outlook (Revenue, USD Billion, 2015 – 2025)
Liquid Soap Distribution Channel Outlook (Revenue, USD Billion, 2015 – 2025)
• Supermarkets & Hypermarkets
• Convenience Store
Liquid Soap Regional Outlook (Revenue, USD Billion, 2015 – 2025)
• North America
• Asia Pacific
• Central & South America
• Middle East & Africa
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About Grand View Research
Grand View Research is a market research and consulting company registered in the State of California having its headquarters in San Francisco. The company offers syndicated research reports, customized research reports, and consulting services. With Grand View Research, you get an opportunity to understand market trends, insights, and business statistics from a strategic standpoint. With a deep-seated understanding of many business environments, Grand View Research offers business and market intelligence studies and accomplishes more than 300 multi-country market studies.
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