Global Liquid Soap Market to expand at a CAGR of 9.6% by 2030

Introduction

Liquid soaps come in liquid form and can be used for multiple purposes, including washing dishes and utensils, cleaning body parts such as the hands, beard, and face, and scrubbing dirty surfaces. Due to the availability of liquid soaps in various sizes, consumers can easily transport and use them in their homes and during their commutes. Consumers find them appealing because they are available in various scents, such as lemon, orange, lavender, mint, rose, peach, jasmine, lily, and lotus. Population acknowledgment and awareness regarding safety and hygiene is the primary factor driving the expansion of the liquid soap market. In addition, since the outbreak of the covid pandemic, hand washing has been mandated by the WHO as a fundamental measure to prevent disease transmission. As a result, the demand for sanitization products such as hand washes, essentially liquid soaps, has increased, propelling the expansion of the liquid soap market.

Market Dynamics

Growing Demand for Organic Liquid Soaps and Other Flavored Variants to Drive the Global Liquid Soap Market

As a result of the presence of numerous harmful chemicals in conventional liquid soaps, the majority of people across the globe have shifted their preference to natural or organic liquid soaps. The natural healing and antifungal properties of natural medicated liquid washes and botanical-based liquid soaps have recently garnered significant attention. No parabens are present in these products. As a result of these factors, the demand for natural and organic products has increased significantly. As a result, the market for liquid soap is proliferating.

In addition, customers are experimenting with novel flavor combinations. Multiple manufacturers are introducing new consumer goods categories in response to the vast array of preferences and inclinations. The demand for liquid soaps with unorthodox aromas, such as botanical and natural aromas, is greater than that for liquid soaps with conventional aromas. In addition to rose and lemon-scented liquid hand washes, the demand for scented liquid soaps like lavender, aloe vera, coconut, and vanilla has increased. These items are available in stores and online. Compared to medicated liquid soaps, the market for non-medicated liquid soaps has been growing over the year due to the availability of various fragrances and the decrease in the use of hazardous chemicals.

Powder to Liquid Gel Refill Pack to Create Opportunities for Global Liquid Soap Market

Existing liquid soaps are packaged in large plastic bottles with pumps, requiring five times as much energy, raw materials, and components as a bar of soap and twenty times as much energy for packaging. There are many disadvantages to liquid gel, including a high price and the use of an excessive number of raw materials. Additionally, several opportunities for improved packaging and cost-effective products will increase the demand for liquid soap on the market. It has been observed that transforming a product from powder to liquid gel offers packaging advantages and makes it more portable. Companies such as Godrej have implemented this concept favored by consumers.

Regional Insights

The region of North America will project a CAGR of 9.5% during the forecast period and hold the largest share. The outbreak of the Coronavirus pandemic has led to an increase in consumer awareness regarding health and sanitary conditions, which has fuelled trends toward increased safety in homes, offices, and other public places. The growth of the liquid soap market can be directly attributed to this crucial trend prevalent throughout this region. In the liquid soap market, one of the most significant opportunities for manufacturers is to develop new product types that reduce skin-related concerns and improve their functionality concerning hygiene-related matters.

Europe will hold the second-largest market share of USD 14,369 million at a CAGR of 9%. It is the second-largest revenue contributor in the liquid soap market due to the rise in disposable income in the region, which has led to an increase in the demand for liquid soap to maintain cleanliness and hygiene. One of the most important developments that have increased the demand for liquid soap is the number of private and public investments made to lessen the likelihood of infections and make the surrounding environment safer. To keep hotels, restaurants, and other public establishments clean, an increasing number of people are using liquid soaps, another factor contributing to the expansion of the market for liquid soap.

Asia-Pacific will advance with the highest CAGR. The market is expanding at a rapid rate due to the rising disposable income of consumers and the enhancement of living conditions. As a result of the region's growing hygiene consciousness, Asia-Pacific is one of the leading geographic regions in the liquid soap market. In addition, a rise in cleanliness awareness is anticipated to contribute to a rise in sales revenue fueled by a growing population. In Asia-Pacific, organic liquid soaps with antibacterial properties, calming fragrances, and natural ingredients are preferred. This is one of the primary drivers of the growth of the organic market segment in the Asia-Pacific region.

Key Highlights

• The global liquid soap market had a revenue share of USD 22,444 million in 2021, anticipated to project to USD 46,729 million at a CAGR of 9.6% during the forecast period.
• Based on type, the conventional liquid soap is most likely to hold the majority market share, advancing a CAGR of 9.4% during the forecast period.
• Based on product type, the face wash is expected to hold the largest market share at a CAGR of 9.4% during the forecast period.
• Based on application, the residential segment is anticipated to project the highest CAGR of 9.6% and hold the largest share during the forecast period.
• Based on the distribution channel, hypermarket/supermarket is most likely to hold the largest market share growing at a CAGR of 9.5% during the forecast period.
• Based on regional analysis, North America will project a CAGR of 9.5% during the forecast period and hold the largest share.

Competitive Players

Competitive Players in the Market

• Reckitt Benckiser Group plc.
• Procter & Gamble
• Unilever
• 3M
• Lion Corporation
• GOJO Industries Inc.
• Kao Chemicals
• Godrej Consumer Products
• Bluemoon Body care
• NEW AVON LLC
• Softsoap
• Dawn
• Dial
• Pears
• Palmolive
• Ivory
• Marseillais
• Sairo
• Fax
• My choice
• Lux

Recent Developments

Market News

• In 2022, Lion Corporation announced establishing a joint venture with Kallol Limited in Bangladesh.
• In 2022, GOJO Industries Inc., the makers of Purell products, announced the launch of the Purell CS4 All-Weather Dispensing System.
• In 2022, Kao Chemicals launched a newly developed mosquito repellent product in Thailand, Bioré GUARD Mos Block Serum.
• In 2022, GOJO Industries Inc., the makers of Purell products, announced the launch of Purellâ Healthcare Surface Disinfecting Wipes. 

Segmentation

Global Liquid Soap Market: Segmentation

By type

• Organic
• Conventional

By product type

• Hand wash
• Face wash
• Surface Cleaner
• Others

By application

• Commercial
• Residential

By distribution channel

• Speciality Stores
• Supermarkets & Hypermarkets
• Convenience stores
• Online Sales Channel

By region

• North America
• Asia-Pacific
• Europe 
• LAMEA