Global Soap Market - Forecasts from 2020 to 2025
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.
Conventional Soaps to hold a noteworthy share
On the basis of type, the global soap market has been classified into organic soaps and conventional soaps. The market for conventional soaps is anticipated to hold a noteworthy share in the market owing to the higher proportion of population uses conventional soaps coupled with lower costs associated with these soaps. In addition, the availability of a wide variety of soaps in different flavours and fragrances also bolster the significant share of this segment. Also, the growing penetration of handcrafted and homemade soaps is also driving the demand for these soaps as a premium product and adding up to the demand significantly.
The market for organic soaps is anticipated to surge at a notable rate during the next five years. This growth is majorly attributed to the growth in the adoption of these soaps on account of the rising concerns regarding the effects of chemical and other ingredients used in conventional soaps. Additionally, the increase in the prevalence of skin diseases is also anticipated to propel the demand for organic soaps and supplement the growth of this segment during the next five years.
Online distribution channel to grow substantially over the forecast period
On the basis of the distribution channel, the global soap market has been segmented on the basis of online and offline. The offline segment is anticipated to hold a major share in the market due to the fact that a major proportion of people the prefer to purchase FMCG goods through various offline channels such as hypermarkets, supermarkets, and retail stores among others as a variety of products are available under a single roof.
The online segment is anticipated to surge at a noteworthy CAGR throughout the forecast period on account of the growing acceptance of the online channels. The rising internet penetration coupled with numerous economic benefits such as bulk discount and coupon discounts are also some of the factors bolstering the growth of this segment in the coming years.
Asia Pacific to show robust growth
Geographically, the global soap market has been segmented on the basis of North America, South America, Europe, Middle East and Africa, and Asia Pacific. The Asia Pacific region is anticipated to show noteworthy rate majorly on the account of growing concerns regarding health and personal hygiene coupled with the presence of major growing economies such as India and China. Furthermore, the investments by key market players in these countries for the launch of new products is also supporting the market in the APAC region during the coming five years. The North American region is anticipated to hold a noteworthy share throughout the forecast period owing to the presence of highly hygienic population in countries such as the United States and Canada. In addition, the presence of key market players in the region coupled also support the share in the market. Furthermore, the growth in the average consumer expenditure on personal care products further shows the potential for the market to surge during the forecast period and beyond.
Competitive Insights
Prominent key market players in the global soap market include Unilever, Reckitt Benckiser Group plc. Henkel AG & Co., Procter & Gamble, and Johnson & Johnson among others. These companies hold a noteworthy share in the market on account of their good brand image and product offerings. Major players in the global soap market have been covered along with their relative competitive position and strategies. The report also mentions recent deals and investments of different market players over the last two years.
Segmentation
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.
Conventional Soaps to hold a noteworthy share
On the basis of type, the global soap market has been classified into organic soaps and conventional soaps. The market for conventional soaps is anticipated to hold a noteworthy share in the market owing to the higher proportion of population uses conventional soaps coupled with lower costs associated with these soaps. In addition, the availability of a wide variety of soaps in different flavours and fragrances also bolster the significant share of this segment. Also, the growing penetration of handcrafted and homemade soaps is also driving the demand for these soaps as a premium product and adding up to the demand significantly.
The market for organic soaps is anticipated to surge at a notable rate during the next five years. This growth is majorly attributed to the growth in the adoption of these soaps on account of the rising concerns regarding the effects of chemical and other ingredients used in conventional soaps. Additionally, the increase in the prevalence of skin diseases is also anticipated to propel the demand for organic soaps and supplement the growth of this segment during the next five years.
Online distribution channel to grow substantially over the forecast period
On the basis of the distribution channel, the global soap market has been segmented on the basis of online and offline. The offline segment is anticipated to hold a major share in the market due to the fact that a major proportion of people the prefer to purchase FMCG goods through various offline channels such as hypermarkets, supermarkets, and retail stores among others as a variety of products are available under a single roof.
The online segment is anticipated to surge at a noteworthy CAGR throughout the forecast period on account of the growing acceptance of the online channels. The rising internet penetration coupled with numerous economic benefits such as bulk discount and coupon discounts are also some of the factors bolstering the growth of this segment in the coming years.
Asia Pacific to show robust growth
Geographically, the global soap market has been segmented on the basis of North America, South America, Europe, Middle East and Africa, and Asia Pacific. The Asia Pacific region is anticipated to show noteworthy rate majorly on the account of growing concerns regarding health and personal hygiene coupled with the presence of major growing economies such as India and China. Furthermore, the investments by key market players in these countries for the launch of new products is also supporting the market in the APAC region during the coming five years. The North American region is anticipated to hold a noteworthy share throughout the forecast period owing to the presence of highly hygienic population in countries such as the United States and Canada. In addition, the presence of key market players in the region coupled also support the share in the market. Furthermore, the growth in the average consumer expenditure on personal care products further shows the potential for the market to surge during the forecast period and beyond.
Competitive Insights
Prominent key market players in the global soap market include Unilever, Reckitt Benckiser Group plc. Henkel AG & Co., Procter & Gamble, and Johnson & Johnson among others. These companies hold a noteworthy share in the market on account of their good brand image and product offerings. Major players in the global soap market have been covered along with their relative competitive position and strategies. The report also mentions recent deals and investments of different market players over the last two years.
Segmentation
- By Type
- Organic
- Conventional
- By Form
- Bars
- Liquid
- By Application
- Residential
- Commercial
- Hospitals
- Airports
- Hotels
- Others
- By Distribution Channel
- Online
- Offline
- By Geography
- North America
- USA
- Canada
- Mexico
- South America
- Brazil
- Argentina
- Others
- Europe
- Germany
- France
- United Kingdom
- Spain
- Others
- Middle East and Africa
- Saudi Arabia
- Israel
- South Africa
- Others
- Asia Pacific
- China
- Japan
- South Korea
- India
- Others
1. INTRODUCTION
1.1. Market Definition
1.2. Market Segmentation
2. RESEARCH METHODOLOGY
2.1. Research Data
2.2. Assumptions
3. EXECUTIVE SUMMARY
3.1. Research Highlights
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
5.1. Introduction
5.2. Organic
5.3. Conventional
6. GLOBAL SOAP MARKET ANALYSIS, BY FORM
6.1. Introduction
6.2. Bars
6.3. Liquid
7. GLOBAL SOAP MARKET ANALYSIS, BY APPLICATION
7.1. Introduction
7.2. Residential
7.3. Commercial
7.3.1. Hospitals
7.3.2. Airports
7.3.3. Hotels
7.3.4. Others
8. GLOBAL SOAP MARKET ANALYSIS, BY DISTRIBUTION CHANNEL
8.1. Introduction
8.2. Online
8.3. Offline
9. GLOBAL SOAP MARKET ANALYSIS, BY GEOGRAPHY
9.1. Introduction
9.2. North America
9.2.1. North America Soap Market, By Type
9.2.2. North America Soap Market, By Form
9.2.3. North America Soap Market, By Application
9.2.4. North America Soap Market, By Distribution Channel
9.2.5. By Country
9.2.5.1. USA
9.2.5.2. Canada
9.2.5.3. Mexico
9.3. South America
9.3.1. South America Soap Market, By Type
9.3.2. South America Soap Market, By Form
9.3.3. South America Soap Market, By Application
9.3.4. South America Soap Market, By Distribution Channel
9.3.5. By Country
9.3.5.1. Brazil
9.3.5.2. Argentina
9.3.5.3. Others
9.4. Europe
9.4.1. Europe Soap Market, By Type
9.4.2. Europe Soap Market, By Form
9.4.3. Europe Soap Market, By Application
9.4.4. Europe Soap Market, By Distribution Channel
9.4.5. By Country
9.4.5.1. Germany
9.4.5.2. France
9.4.5.3. United Kingdom
9.4.5.4. Spain
9.4.5.5. Others
9.5. Middle East and Africa
9.5.1. Middle East and Africa Soap Market, By Type
9.5.2. Middle East and Africa Soap Market, By Form
9.5.3. Middle East and Africa Soap Market, By Application
9.5.4. Middle East and Africa Soap Market, By Distribution Channel
9.5.5. By Country
9.5.5.1. Saudi Arabia
9.5.5.2. Israel
9.5.5.3. South Africa
9.5.5.4. Others
9.6. Asia Pacific
9.6.1. Asia Pacific Soap Market, By Type
9.6.2. Asia Pacific Soap Market, By Form
9.6.3. Asia Pacific Soap Market, By Application
9.6.4. Asia Pacific Soap Market, By Distribution Channel
9.6.5. By Country
9.6.5.1. China
9.6.5.2. Japan
9.6.5.3. South Korea
9.6.5.4. India
9.6.5.5. Others
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
11.1. Unilever
11.2. Caswell-Massey
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
1.1. Market Definition
1.2. Market Segmentation
2. RESEARCH METHODOLOGY
2.1. Research Data
2.2. Assumptions
3. EXECUTIVE SUMMARY
3.1. Research Highlights
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
5.1. Introduction
5.2. Organic
5.3. Conventional
6. GLOBAL SOAP MARKET ANALYSIS, BY FORM
6.1. Introduction
6.2. Bars
6.3. Liquid
7. GLOBAL SOAP MARKET ANALYSIS, BY APPLICATION
7.1. Introduction
7.2. Residential
7.3. Commercial
7.3.1. Hospitals
7.3.2. Airports
7.3.3. Hotels
7.3.4. Others
8. GLOBAL SOAP MARKET ANALYSIS, BY DISTRIBUTION CHANNEL
8.1. Introduction
8.2. Online
8.3. Offline
9. GLOBAL SOAP MARKET ANALYSIS, BY GEOGRAPHY
9.1. Introduction
9.2. North America
9.2.1. North America Soap Market, By Type
9.2.2. North America Soap Market, By Form
9.2.3. North America Soap Market, By Application
9.2.4. North America Soap Market, By Distribution Channel
9.2.5. By Country
9.2.5.1. USA
9.2.5.2. Canada
9.2.5.3. Mexico
9.3. South America
9.3.1. South America Soap Market, By Type
9.3.2. South America Soap Market, By Form
9.3.3. South America Soap Market, By Application
9.3.4. South America Soap Market, By Distribution Channel
9.3.5. By Country
9.3.5.1. Brazil
9.3.5.2. Argentina
9.3.5.3. Others
9.4. Europe
9.4.1. Europe Soap Market, By Type
9.4.2. Europe Soap Market, By Form
9.4.3. Europe Soap Market, By Application
9.4.4. Europe Soap Market, By Distribution Channel
9.4.5. By Country
9.4.5.1. Germany
9.4.5.2. France
9.4.5.3. United Kingdom
9.4.5.4. Spain
9.4.5.5. Others
9.5. Middle East and Africa
9.5.1. Middle East and Africa Soap Market, By Type
9.5.2. Middle East and Africa Soap Market, By Form
9.5.3. Middle East and Africa Soap Market, By Application
9.5.4. Middle East and Africa Soap Market, By Distribution Channel
9.5.5. By Country
9.5.5.1. Saudi Arabia
9.5.5.2. Israel
9.5.5.3. South Africa
9.5.5.4. Others
9.6. Asia Pacific
9.6.1. Asia Pacific Soap Market, By Type
9.6.2. Asia Pacific Soap Market, By Form
9.6.3. Asia Pacific Soap Market, By Application
9.6.4. Asia Pacific Soap Market, By Distribution Channel
9.6.5. By Country
9.6.5.1. China
9.6.5.2. Japan
9.6.5.3. South Korea
9.6.5.4. India
9.6.5.5. Others
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
11.1. Unilever
11.2. Caswell-Massey
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
