The Liquid Soap Market is likely to hold the global market at a moderate CAGR of 6.4% during the forecast period. The global market holds a forecasted revenue of US$ 18.4 Billion in 2022 and is likely to cross US$ 34.22 Billion by the end of 2032.
The Liquid Soap market is anticipated to show promising growth prospects during the forecast period, expanding the global liquid soap market size.
Attribute
Details
The Liquid Soap Market Estimated Size (2021)
US$ 17.3 Billion
The Liquid Soap Market Estimated Size (2022)
US$ 18.4 Billion
The Liquid Soap Market Projected Size (2032)
US$ 34.22 Billion
The Liquid Soap Market CAGR (2022 to 2032)
6.4%
With the support of various hygiene-focused programs, consumer awareness of personal hygiene has been rising. FMCG products are gaining popularity among youth and Millennials, as they help in fast lifestyle. Liquid soap is one such necessity. Hygiene is becoming a necessity all over the world and people are also becoming more and more health-conscious and self-aware. Increasing disease all over the world is another reason for the widespread use of liquid soaps.
Customers are getting aware of the ingredients and the chemicals used for the production of soaps. Due to increasing awareness, people are preferring chemical-free, natural liquid soaps. Manufacturers are attracting customers by advertising products with skin-friendly and high hygiene and cleaning functionality of the products. Along with such advertisements, anti-microbial properties, different fragrances, and ingredients are the main key factors used by manufacturers to increase sales.
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Changing Hygienic Lifestyle, Use of Liquid Soaps in Different Sectors and Innovative Approach of Manufacturers are Helping Liquid Soap Market Grow
The shifting hygiene habits of individuals nowadays are brought on by growing health issues. People are taking care of their personal hygiene and employing various cleaning aids. People are favoring sanitary practices and incorporating them into daily routines as a result of various ailments and the accessibility of information regarding these diseases and the germs that cause them. Many prominent players are releasing novel items that are boosting hygiene and cleanliness as the popularity of products aiding in preserving hygiene grows.
The applications for liquid soaps are numerous and diverse. Liquid soap's primary use is for hand washing. In hospitals, malls, shops, restaurants, hotels, public restrooms, and other settings, liquid soaps are utilized for hand washing. Multi-functional soaps, body wash soaps, and hand soaps are likewise becoming more and more well-liked throughout the world in various industries. Dish soaps are also having different ingredients, helping in effective e-cleaning. Manufacturers are focusing on innovation and creative marketing of these liquid soaps. The use of natural and skin-friendly ingredients, mild fragrances, and different flavors are the main factors that help in the effective marketing and sales of liquid soaps.
Alternate Products for Liquid Soaps and Changing Consumer Preferences are restraining the Liquid Soap Market
The liquid soap market is having difficulties expanding, as the prices of liquid soaps are higher than bar soaps. The main reason people choose bar soaps over liquid soaps is their prices and they are the most commonly used form of soap. The oils and fats used for making soaps along with texturizing chemicals are the main reason for higher prices. If natural fragrances and essential oils are used, the cost goes even higher. People on a budget and with limited income tend to prefer bar soaps instead of liquid soaps due to their price range.
The availability of alternatives for liquid soaps is another significant barrier. Other quick and simple items that are just as effective as liquid soaps but don't utilize water include paper soaps, disinfectants, and rubbing sanitizers that contain alcohol. Again, there are online guides and videos that show how to produce handmade soaps. People are choosing to produce soap at home using basic, natural, and readily available components due to growing health concerns.
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Regional Insights
Asia Pacific Region is the Lucrative Market for Liquid Soap, Due to Increasing Hygiene and Sanitation Practices
Asia Pacific is the biggest market for liquid soaps. Countries like India and China are most affected by viral diseases. As people are aware of the source of these infections, they are using liquid soaps and washing their hands often. The government is also taking initiatives to spread awareness and increase hygienic practices and hand-washing habits in People. Such initiatives are inviting key market players to invest in the region.
Natural and chemical-free liquid soaps are used in households; high-quality ingredients are the main preference.
North American region is showing promising growth for the Liquid soap market. the region is known for its luxurious and high-quality lifestyle. There are many families with high incomes and they are always searching for the best quality products, regardless of their prices. The hotels and restaurants in the countries are the main consumer of liquid soaps, followed by residential and corporate sectors. Households are using specific brands and types of liquid soaps, including hand washes and body washes.
Competitive Landscape
Some key players in the Liquid Soap market are GlaxoSmithKline, Unilever, LES ROBINETS PRESTO S.A., Colgate-Palmolive Company, Premier English Manufacturing, Cleenol Group Ltd., Christina May Ltd., Godrej, Reckitt Benckiser Group plc., Hindustan Unilever, Henkel Corporation and others. These are popular and well-known brands all over the world.
Godrej Consumer Products Limited has launched a ready-to-mix type of body wash soap in July 2022. The body wash comes in a small sachet, the user has to mix the components with water and it forms a full bottle of body wash soap. The sachet is priced the same as any other bar soap in the market, encouraging the customers to try new products instead of using traditional bar soaps.
Hindustan Unilever expanded its Vim dish wash soap brand to dishwasher-friendly soap, in early 2021. The popular dish wash soap is now available in liquid, powder, and tablet form, named ‘Vim Matic’. The dishwashers are witnessing increasing demand, as the daily chores are getting hectic in the busy working lifestyle. The products are innovative, especially the all-in-one tablet that works as soap, rinse aid, and salt, increasing convenience.
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Scope of Report
Attribute
Details
Growth Rate
CAGR of 6.4% from 2022 to 2032
The base year for estimation
2021
Historical Data Available for
2017 to 2021
Forecast Period
2022 to 2032
Quantitative units
Revenue in USD Billion, volume in Units, and CAGR from 2022 to 2032
Report Coverage
Revenue forecast, volume forecast, company ranking, competitive landscape, growth factors, and trends, pricing analysis
Segments Covered
Application, Nature, End User, Distribution Channel, Region
Country scope
USA; Canada; Mexico; Germany; United Kingdom; France; Italy; Spain; Russia; India; Thailand; China; India; Japan; Australia; Brazil; Argentina; Colombia; Saudi Arabia; United Arab Emirates(UAE); South Africa
Key Companies Profiled
GlaxoSmithKline
Unilever
LES ROBINETS PRESTO S.A.
Colgate-Palmolive Company
Premier English Manufacturing
Cleenol Group Ltd.
Christina May Ltd.
Godrej
Reckitt Benckiser Group plc.
Hindustan Unilever
Henkel Corporation
Others
Customization scope
Free report customization (equivalent to up to 8 analysts' working days) with purchase. Addition or alteration to country, regional & segment scope.
Pricing and purchase options
Avail customized purchase options to meet your exact research needs.
Key Segments Profiled in the Liquid Soap Market
By Application:
Hand Wash
Body Wash
Dish Wash
By Nature:
Organic
Natural
Conventional
By End User:
Household
Commercial
Hospitality Industry
Healthcare Industry
Foodservice Industry
Others
By Distribution Channel:
Direct Sales
Hypermarket/Supermarket
Specialty Stores
Convenience Store
Pharmacies
Online Retailers
Other Sales Channel
By Region:
North America
Latin America
Europe
East Asia
South Asia
Oceania
Middle East and Africa
Frequently Asked Questions
What is the current liquid soap market value?
The liquid soap market is expected to reach a valuation of US$ 18.4 Billion in 2022.
What are the key trends driving the liquid soap market?
Preference for healthy and hygienic practices due to increasing health complications, the use of liquid soaps in different sectors, and the innovative approaches of manufacturers to produce and market liquid soaps are the main key drivers for the liquid soap market.
Who are the leading players in the liquid soap market?
Leading players operating in the liquid soap market are GlaxoSmithKline, Unilever, LES ROBINETS PRESTO S.A., Colgate-Palmolive Company, Premier English Manufacturing, Cleenol Group Ltd., Christina May Ltd., Godrej, Reckitt Benckiser Group plc., Hindustan Unilever, Henkel Corporation and among others.
