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Liquid Soap Market Overview
In 2022, the liquid soap market was estimated to be worth USD 21.9 billion. According to projections, the liquid soap market is expected to increase at a compound annual growth rate (CAGR) of 7.30% from USD 23.49 billion in 2023 to USD 41.28 billion by 2032. It is expected that growing adult awareness of the need of personal hygiene will remain a key market driver.
Liquid soap effectively cleans hands and a range of surfaces, including floors, tiles, cutlery, and clothes, lowering the risk of microbiological infections. Leading international government organisations are pushing citizens to uphold norms of personal hygiene, such as keeping public bathrooms clean. Furthermore, the sector benefits from the usage of cleaning goods in clinics, hospitals, and diagnostic centres to avoid healthcare-related infections. Moreover, it is anticipated that rising awareness of hygiene issues would raise product demand in emerging nations like South Africa, India, and Mexico, among others. These public and private initiatives will probably contribute to the market’s expansion over the projected time frame. The global trend of consumers adopting organic goods is the primary driver of the growth of the liquid soap market.
Key Companies in the liquid soap market include.
Procter & Gamble (U.S.)
Henkel AG & Co. KGaA (Germany)
Colgate-Palmolive Company (U.S.)
Unilever (U.K.)
Reckitt Benckiser Group plc (U.K.)
Kimberly-Clark Worldwide, Inc. (U.S.)
The 3M Company (U.S.)
Lion Corporation (Japan)
Kao Corporation (Japan)
Johnson & Johnson Services, Inc. (U.S.)
Segmentation Analysis
Bath and body soaps, dishwashing soaps, laundry soaps, and others are included in the market segmentation of liquid soap depending on product type. The market was dominated by the bath and body soaps category.
Based on application, the liquid soap market is divided into two segments: household and commercial. Because more people were using the product for handwashing and bathing, the home category made the most money.
Based on the distribution channel, the liquid soap market is segmented into supermarkets/hypermarkets, convenience stores, online sales channels, and others. The segment with the highest revenue generation was supermarkets/hypermarkets.
Regional Analysis
The report offers market information for North America, Europe, Asia-Pacific, and the rest of the world, broken down by region. This market will be dominated by the liquid soap market in North America. The coronavirus pandemic’s start has increased consumer knowledge of sanitary and health issues, which has sparked safety trends in public areas like homes and workplaces. This is one of the key developments in this area that is propelling the market expansion for liquid soap.
Due to a variety of factors, the Asia-Pacific Liquid Soap Market is anticipated to develop at the quickest CAGR between 2023 and 2032. These include the existence of populous countries, a flourishing lodging and resort sector, and growing awareness of hygiene. Furthermore, more high-end products, such as liquid soaps, are being sold as family income levels rise, contributing to the area’s enhanced market growth. In addition, the liquid soap market in China had the most market share, while the market in India had the quickest rate of growth in the Asia-Pacific area.
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