The global bath soaps market is ever-increasing, mainly due to the rising population, worldwide and the availability of a variety of soaps, offering a wide range of options. Besides, the rapid growth in the personal care industry and the rising consumer demand for different types of bath soaps are contributing to the growth of the market, colossally. The presence of several established market players is further fueling the global market growth through extensive distribution.
According to Market Research Future (MRFR), the global bath soaps market is estimated to create a valuation of USD 24.8 BN by the end of 2024. In its recently published analysis, MRFR also asserts that the market would register a 5.1?GR during the forecasted period (2019 – 2024). Factors such as an increase in preference for chemical-free and natural products led by the increased awareness on the benefits of natural bath soaps have boosted the market demand, commutatively.
On the other hand, the increasing numbers of spurious and counterfeit soaps floating in the market are reducing the total market revenues by taking original products off the shelf. Nevertheless, the improved living standards and the rising demand among consumers for varieties of bath products would support the growth of the bath soaps market.
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Industry/ Innovation/ Related News
September 12, 2019 —- Henkel AG & Company, KGaA, (Germany), a consumer goods giant announced USD 5 MN investments in Truman’s (the US), a direct-to-consumer start-up that makes non-toxic cleaners and cleaning products. The cleaning product is developed to be refilled by plugging them into bottles and adding water. This would make them environmentally friendly than competing products.
September 12, 2019 —- The Procter & Gamble Company (P&G – the US) a multinational consumer goods corporation launched a start-up brand, under EC30, of single-use cotton-like swatches of shampoo, household cleaners, and bath soap that are activated by water. P&G had launched the Waterless brand of dry hair-care products earlier this year in South Africa.
Global Bath Soaps Market – Competitive Analysis
Highly competitive, the Bath Soaps market appears to be fragmented due to the presence of many well-established players. When it comes to investing efforts, time, and money for further required R&D and formulation, players operating in the market show equal enthusiasm. Consumer preferences and demands are continually changing, and bath soaps makers are meeting the market demand by developing varieties of products using different types of ingredients. These players compete based on product differentiation, portfolios, and pricing to gain a substantially larger market share.
Players leading the global bath soaps market include Procter and Gamble (US), Unilever (UK), Colgate-Palmolive Company (US), Forest Essentials (India), Khadi Natural (India), Henkel AG & Co KGaA (Germany), L’Occitane International SA (Switzerland), L’Oreal S.A. (France), Neal’s Yard (Natural Remedies) Limited (UK), Laverana GmbH & Co. KG (Germany), Truly’s Natural Products (US), Chagrin Valley Soap & Salve Co. (US), The Honest Company Inc. (US), Botanie Natural Soap Inc. (US), and A Wild Bar Soap LLC (US), among others.
Global Bath Soaps Market – Segments
The report is segmented into five market dynamics to widen the scope of understanding,
By Category: Organic and Conventional, among others.
By Form: Solid and Liquid, among others.
By Type: Medicated and Non-Medicated
By Distribution Channel: Store-Based (Supermarkets & Hypermarkets, Specialty Stores, others) and Non-Store-Based.
By Regions: Europe, North America, APAC, and the Rest-of-the-World (RoW).
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Global Bath Soaps Market – Regional Analysis
The Asia Pacific region leads the global bath soaps market with the largest market share. Factors such as the rapidly expanding population and rising per capita disposable income in the region drive the regional market growth. Currently, the region accounts for around 37% of the total global market share, and China and Japan are the largest bath soaps markets in the region. The surge in online retailing has further escalated the market growth of bath soaps.
Moreover, advancements in manufacturing technologies, organized retail sector, and several promotion activities carried out by market players propel the bath soaps market in the APAC region.
The bath soaps market in North America accounts for the second-largest market, globally. The presence of multinational players occupying the significant share of the market such as Procter and Gamble, A Wild Bar Soap LLC, Colgate-Palmolive Company, and Botanie Natural Soap Inc. impacts the regional market growth, significantly. Moreover, the rise in organized retail stores and specialty stores is boosting the growth of the regional bath soaps market, further. The US leads the bath soaps market in North America, occupying a significant share. The North American bath soaps market is expected to register the highest CAGR during the forecast period.
The European bath soap market is growing considerably. Factors such as the augmenting market demand and the presence of fervent manufacturers with their extensive portfolio of products drive the regional market. Countries such as France and the UK, backed by their major beauty products market, account for substantial contribution. Based on the higher demand for luxury bath soaps, especially among the female population, the import and export of bath soaps in the region are expected to rise at a steady rate.
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