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.
The Beauty and Personal Care (BPC) industry has witnessed a decline in the wake of the Covid 19 pandemic, but the impact is not as severe as seen in other industries. Although discretionary spending has reduced, the BPC market has witnessed a consumer behavioral shift towards safe and reliable products. Products that have a lower risk of contamination owing to automation and longer shelf lives helping the rationing of consumer supplies are expected to stand out in the near future. Brands are also focusing on improving their supply lines in terms of strengthening their E-commerce channel along with offering at-home wellness products, which are highly suited in this volatile business environment. Our team is diligently working towards accounting these factors in our report with the aim of providing you with the up-to-date, actionable market information and projections.
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.
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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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.
Further key findings from the report suggest:
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
The global liquid soap market size was estimated at USD 18.50 billion in 2018. Rising awareness regarding personal hygiene among adults is expected to remain a key driving factor for the market. These liquid formulations are expected to gain popularity as they have low pH levels which make them gentler and suitable for people with sensitive skin. This factor is anticipated to contribute to the widespread adoption of the product in near future.
Liquid soaps are preferred over soap bars as they can retain more than 30% of skin’s natural moisture and are considered suitable for dry skin. As per the Bureau of Labor Statistics, in 2016, U.S. household spending on personal care products were around USD 707 per year and it was estimated to continue witnessing significant growth in the future. Growing consumer spending on personal hygiene is expected to promote the product in U.S. during the forecast period.
Conventional products was accounted for the largest market share of more than 60% in 2018, owing to cost effectiveness and availability of a variety of fragrance choices. These products are available in fragrance variants including vanilla, melon, peach, apricot, honey, chocolate, citrus, herby, floral, fruity, mild, subtle, delicate, grassy, and sweet among others. Furthermore, rising preference for homemade and handcrafted shops is attributing to the segment growth. Ease of manufacturing these products at low cost will attract many small scale private level players to enter the manufacturing of conventional liquid soaps.
Organic products is expected to witness the fastest CAGR of 5.9% from 2019 to 2025. Rising concerns about the adverse effects associated with chemicals such as parabens and sulphates is expected to positively influence the demand for organic products. Rising prevalence of skin diseases is driving consumers to spend on organic products for hand wash and body wash in near future.
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Household category led the liquid soap market, accounting for more than 60% of the market in 2018. The demand is generally higher in urban areas in comparison to rural areas. Key factor attributed to this growth include rising consumer awareness regarding hygiene and healthy lifestyle in emerging economies. Government initiatives for improving hygiene in emerging economies such as China and India will further propel the growth. For instance, campaigns like Swachh Bharat Mission and Total Sanitation Campaign among others will boost the spending on sanitary hygiene products like hand washes in India.
Commercial segment is anticipated to expand at a CAGR of 4.5% from 2019 to 2025, attributed to the rising expansion of commercial properties and hospitality industries at global level. In 2018, the U.S. hotel industry expanded by around 5%. Such significant rise can be attributed to the high product demand from commercial segment.
Grand View Research has segmented the global liquid soap market on the basis of product, application, distribution channel:
Liquid Soap Product Outlook (Revenue, USD Billion, 2015 - 2025)
Organic
Conventional
Liquid Soap Application Outlook (Revenue, USD Billion, 2015 - 2025)
Household
Commercial
Liquid Soap Distribution Channel Outlook (Revenue, USD Billion, 2015 - 2025)
Supermarkets & Hypermarkets
Convenience Store
Online
Others
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
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