Key Highlights of the Report:

Ø  Global market has a significant opportunity to capitalize on the growing demand for liquid soap, given its large and diverse economy, growing middle class, and increasing focus on sustainability.

Ø  Liquid Soap is majorly used over bar soap as liquid soaps also include a moisturizing agent, so your hands may not dry out as quickly from frequently cleaning your hands.

According to a new report by Univdatos, Liquid Soap Market globally, is expected to reach USD 19 Billion in 2030 by growing at a CAGR of 6%. Rising awareness regarding the huge number of benefits associated with a healthy & hygienic lifestyle coupled with growing disposable income are some of the key factors driving the market for liquid soap. Government initiatives and expenditure targeting public health is also driving the demand for liquid soap. Liquid Soaps are preferred over soap bars as they can retain more than 30% of the skin’s natural moisture and are considered suitable for dry skin. As per the Bureau of Labor Statistics, U.S. household spending on personal care products is around USD 707 per year and it is estimated to continue witnessing significant growth in the future.

The report suggests that the Upsurge in demand for sanitation & cleansing products is one of the major factors driving the global liquid soap market during the forthcoming years. With the increasing awareness about personal hygiene and cleanliness, people are becoming more conscious about using products that are effective in removing dirt, germs, and bacteria from their skin and surfaces. Liquid soaps are one of the most widely used cleansing products, and their demand is expected to continue to grow in the coming years.

One of the main reasons for the rising demand for liquid soaps is the changing lifestyle of people. People today are busier than ever before, and they often do not have enough time to wash thoroughly with bar soap. Liquid soaps provide a quick and easy way to clean oneself without having to spend too much time in the bathroom. They also come in various forms, such as hand sanitizers, body washes, and facial cleansers, which cater to different needs and preferences of users.

The COVID-19 pandemic has also played a role in boosting the demand for liquid soaps. As people became more aware of the importance of hand hygiene, liquid hand sanitizers became a necessity in public places. This increased demand for hand sanitizers has also contributed to the overall growth of the liquid soap market.

Thus, the upsurge in demand for sanitation and cleansing products is driving the market for liquid soap. The convenience, effectiveness, and environmental benefits of liquid soaps have made them a preferred choice among consumers. As the trend of eco-friendliness and personal hygiene continues to grow, the demand for liquid soaps is tending to remain robust in the forcasted years.

Apart from this, convenience, sustainability, variety, probability, health benefits, and amongst others in liquid soap also positively impact the market’s growth. A wide range of investments have adopted strategic alliances in this area, thus suggesting huge potential in this area. Some of the recent strategic alliances are:

·         In July 2022, Godrej Consumer Products Limited launched a ready-to-mix type of body wash soap. The body wash comes in a small sachet, the user must mix the components with water, and it forms a full bottle of body wash soap. The sachet is priced the same as any other bar soap on the market, encouraging the customers to try new products instead of using traditional bar soaps.

·         In Sep 2022, Dettol entered the powder-to-liquid hand wash category after Godrej. Additionally, in July 2020, FMCG company CavinKare announced the launch of a silicone-free liquid hand soap under its flagship brand Nyle Naturals.

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Household Sector Gaining Maximum Traction in the Market

The household sector is growing maximum traction for the liquid soap market. In addition to these government initiatives, several soap manufacturing companies are also taking increased participation to create a suitable environment for them, thus driving the growth of the segment in the forthcoming years.

•       In September 2023, FLP India Launched Naturally Derived Cleansers Aloe Liquid Soap & Aloe Body Wash Under the Personal Care Category. This is a powerful, gentle, and versatile cleanser for the whole family. Their creamy, pearlescent formula cleans and nourishes to leave your skin feeling fresh and renewed.

•       In November 2021, Kent launched a Touchless Soap Dispenser at USD 42.06 built with an IR sensor to avoid contact with one hand to another.

Conclusion

Global's liquid soap market has been growing rapidly over the past few years. The market has been driven by increasing awareness towards sustainability, cost-effectiveness, easy-to-use, and other factors of the product. The Liquid Soap market in Global is highly fragmented, with many small and medium-sized players competing for business. Several top-notch companies in the market include GSK plc; Unilever; P&G; Colgate-Palmolive Company; Cleenol Group Ltd; and others. The major areas of focus for liquid soap firms in the Global include increasing concern about skin and health issues. Overall, the Liquid Soap market globally is expected to continue to grow in the coming years, driven by the increasing focus on sustainability by businesses, investors, and regulators.

Key Offerings of the Report

Market Size, Trends, & Forecast by Revenue | 2023−2030

Market Dynamics – Leading Trends, Growth Drivers, Restraints, and Investment Opportunities

Market Segmentation – A detailed analysis by Type and Application

Competitive Landscape – Top Key Vendors and Other Prominent Vendors

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