Press release
COVID-19 to Impact Demand Growth of Soap Noodles Market | By key players like Wilmar International, KLK Oleo., Musim Mas Hodling Pte, Jocil Limited, EVYAP-OLEO, OLIVIA IMPEX
Soap Noodles Market
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Vegetable oil source segment in soap noodles industry is anticipated to witness substantial gains in the coming years owing to easy availability of palm oil and palm kernel oil in Asia pacific countries such as Indonesia and Malaysia. Asia Pacific is the largest manufacturer and exporter of palm oil and palm kernel oil around the world.
Vegetable oil source segment in soap noodles industry dominated the global share during 2018 and is projected to record a robust 3% CAGR over 2019-2025.
North America and Latin America bar soap manufacturers majorly rely on tallow to manufacture soap noodles. Europe is one of the leading importers of palm oil from Malaysia.
Speaking in terms of process, saponification route held a major share in 2018 and is forecast exhibit similar growth trends through 2025. When compared with the fatty acid process, saponification process is cheaper and less complex, hence widely preferred across the globe. Moreover, this process is extensively employed for manufacturing premium quality soap noodles, which are, in turn, used in several toilet soap preparations. In 2018, saponification route held more than half of the industry share and is forecast to register a growth rate of more than 3% over the analysis period.
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Soap manufacturers have upped their efforts in purchasing the soap noodles and adding the pigments, flagrances, flavor and other components to have a competitive edge in the market. Use of soap noodles as the main ingredient in the production of soap bars is likely to be witnessed in the next few years.
A blend is said to be the 80/20 standard, containing 80% palm oil and 20% palm kernel oil or coconut oil. Besides, soaps with increasing level of diversity are hitting the shelves and will continue to present bullish picture of the soap noodles industry. In the latest research report, Global Market Insights, Inc., has projected soap noodles market size to expand $1.14bn by 2025.
Major key players in the market are IoI Oleochemicals, Wilmar International, KLK Oleo., Musim Mas Hodling Pte, Jocil Limited, EVYAP-OLEO, OLIVIA IMPEX PRIVATE LIMITED, John Drury & Co Ltd and M Bedforth & Sons, Timur olechemicals Malaysia, Raj Industries, Goorej, Kurnia Sari Utama, Levant soap, and RUBIA INDUSTRIES LIMITED.
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Arun Hegde
Corporate Sales, USA
Global Market Insights, Inc.
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About Global Market Insights
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.
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