Liquid Soap Market Was Reach At US$ 19.5% In 2019 And Expected To Grow At 5.5% CAGR by 2026

Global Liquid Soap Market Was Reach At US$ 19.5% In 2019 And Expected To Grow At 5.5% Cagr In Upcoming Forecast Period 2020-2026 The global liquid soap market was valued at US$ 19.5 billion in 2019 and is projected to expand at a CAGR of approximately 5.5% during the forecast period between 2020 and 2026. The liquid form of this soap prevents germs and bacteria from spreading from one person to the other through the soap. Thus awareness regarding health and hygiene among people is fueling the growth of the market.

Market Overview  Liquid soaps contain low pH levels and thus, are gentle on the skin  Increase in awareness regarding health & hygiene  Rise in industrialization and urbanization  Growth in disposable income  Lack of awareness  Misconceptions that liquid soaps are costlier than regular soap  Implementation of Good Manufacturing Practices (GMP) demand clean work environment  Mandates compelling medical practitioners to keep their hands clean and germfree  Cost-effectiveness of liquid soap  Launch of liquid soaps catering to various consumer needs

Market Trends In June 2019, Reckitt Benckiser Group plc, the UK-based consumer goods company, launched a wide array of products, which included bathing soaps, hand washes, and liquid soap under the Dettol brand name. The company claims these products to be parabens- free, talc- free, and dye-free.

Regional Insights Based on regions, the global liquid soap market has been segregated into North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. The market in Asia-Pacific is anticipated to expand at a substantial CAGR during the forecast period due to growing awareness regarding health and hygiene among people.

Market Share Insights The global liquid soap market has been segmented on the basis of products, applications, end-uses, and distribution channels. In terms of products, the market has been bifurcated into organic and conventional. Conventional segment held a major share of the market. However, the organic products segment is estimated to expand at a high CAGR during the forecast period. Rapid growth of the segment can be attributed to rising awareness regarding the harmful effects associated with chemicals such as sulfates and parabens.

Base on applications, the market has been divided into hand wash, body wash, and dish wash. The hand wash segment is expected to continue to dominate the global market, in terms of revenue, due to growing awareness regarding hygiene globally. In terms of enduses, the liquid soap market has been categorized as household and commercial. The household segment accounted for a major share of the market. Rise in government initiatives are boosting the adoption of liquid soaps. The commercial segment is estimated to expand at a substantial CAGR due to rising use of liquid soaps in malls, hospitals, schools, and offices. On the basis of distribution channels, the market has been classified into online and offline. The offline segment has been further split into supermarkets & hypermarkets and convenience stores. The online segment is projected to expand at a high CAGR between 2020 and 2026, as increasing number of people preference to shop online by comparing prices, reviews, and offers.

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Key Players Major companies operating in the global liquid soap market include Premier English Manufacturing (PREMCO), Cleenol Group Ltd, Christina May Ltd, Reckitt Benckiser Group plc, GlaxoSmithKline, Unilever, LES ROBINETS PRESTO S.A., Colgate-Palmolive Company, 3M, Lion Corporation, GOJO Industries, Inc., Kao Chemicals, Godrej Consumer Products, Bluemoon Bodycare, NEW AVON LLC., Pental Products, and Henkel Corporation. These players engage in product launches, and mergers & acquisitions to gain an edge over their competitors.

Segments Covered in the Report By Products  Organic  Conventional

By Applications Hand Wash Body Wash Dish Wash

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By End-uses  Household  Commercial

By Distribution Channels Online Offline Supermarkets & Hypermarkets Convenience Stores

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By Regions North America US Canada Mexico Europe France Germany Rest of Europe Asia-Pacific  China  India  Rest of Asia-Pacific  Latin America  Brazil  Mexico  Rest of Latin America        

Middle East & Africa GCC South Africa Rest of Middle East & Africa

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Players Included  3M  Bluemoon Bodycare  Christina May Ltd  Cleenol Group Ltd  Colgate-Palmolive Company  GlaxoSmithKline  Godrej Consumer Products  GOJO Industries, Inc.  Henkel Corporation

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Kao Chemicals LES ROBINETS PRESTO S.A. Lion Corporation NEW AVON LLC. Pental Products Premier English Manufacturing Reckitt Benckiser Group plc Unilever