DUBLIN--(BUSINESS WIRE)--The "Global Soap Market - Forecasts from 2020 to 2025" report has been added to ResearchAndMarkets.com's offering.
The global soap market is estimated to be worth US$15.754 billion in the year 2019.
The major factors driving the global soap market include the growing global concerns regarding cleanliness and personal hygiene along with the rising global population. The mounting concerns over personal hygiene are leading to increased adoption of soaps and personal care products, especially through the underdeveloped economies as cleanliness and hygiene are being given more priorities towards a healthy lifestyle. The market in the developed economies is being driven by the penetration of premium products as the better economic conditions coupled with the high purchasing power is leading to an increased demand for premium personal care products, hence, driving the market growth during the next five years.
In addition, the rising expenditure on personal care products in various countries due to numerous factors such as growing disposable income, growing health concerns, and expansion of distribution channels are also expected to bolster the global soap market growth during the next five years. For instance, according to the U.S. Bureau of Labour Statistics, the average expenditure on personal care products of U.S. consumers increased to US$768 by 2018 from US$707 in 2016. Similarly, a growing trend is anticipated for the coming years which is one of the prime factors expected to propel the growth opportunities for the market throughout the forecast period and beyond.
Moreover, the rising prevalence of numerous communicable diseases is also driving the demand for liquid soaps. Additionally, the recent outbreak of the deadly COVID-19 Corona Virus is also one of the key factors anticipated to moderately push the demand for soaps as the concerns over clean hands and clean hygiene is leading to increased use of soaps and other products. All these factors are expected to collectively propel the global soap market significantly in the short run.
Furthermore, the integration of key market players into new business segments for the expansion of the product portfolio and to cater to the growing market requirements also show the potential for the market to bolster during the forecast period and beyond. For instance, in 2016, Godrej Consumer Products Limited, India's leading consumer goods company announced the launch of its new soap made from 100% natural ingredients to tap the market for organic soaps in the country. Similarly, the company also launched new soaps and hair colours in 2017, across India and Indonesia with an aim to strengthen the market share in the personal care segments across these high demand countries.
- Reckitt Benckiser Group plc.
- Henkel AG & Co.
- Procter & Gamble
- Johnson & Johnson
- Colgate-Palmolive Company
- Godrej Consumer Products Limited
- ITC Limited
- The Himalaya Drug Company
Key Topics Covered:
2. Research Methodology
3. Executive Summary
4. Market Dynamics
4.1. Market Drivers
4.2. Market Restraints
4.3. Porters Five Forces Analysis
4.3.1. Bargaining Power of Suppliers
4.3.2. Bargaining Power of Buyers
4.3.3. Threat of New Entrants
4.3.4. Threat of Substitutes
4.3.5. Competitive Rivalry in the Industry
4.4. Industry Value Chain Analysis
5. Global Soap Market Analysis, By Type
6. Global Soap Market Analysis, By Form
7. Global Soap Market Analysis, By Application
8. Global Soap Market Analysis, By Distribution Channel
9. Global Soap Market Analysis, By Geography
9.2. North America
9.3. South America
9.5. Middle East and Africa
9.6. Asia Pacific
10. Competitive Environment and Analysis
10.1. Major Players and Strategy Analysis
10.2. Emerging Players and Market Lucrativeness
10.3. Mergers, Acquisitions, Agreements, and Collaborations
10.4. Vendor Competitiveness Matrix
11. Company Profiles
11.3. Reckitt Benckiser Group plc.
11.4. Henkel AG & Co.
11.5. Procter & Gamble
11.6. Johnson & Johnson
11.7. Colgate-Palmolive Company
11.8. Godrej Consumer Products Limited
11.9. ITC Limited
11.10. The Himalaya Drug Company
For more information about this report visit https://www.researchandmarkets.com/r/41xt9x