Press release
Liquid Soap Market to Grow at a CAGR of 9.30% by 2027
Liquid Soap Market
The liquid soap market size was valued at $18,200.00 million in 2019, and is projected to reach $38,191.9 million by 2027, growing at a CAGR of 9.30% from 2021 to 2027.
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For the purpose of the liquid soap market forecast, market is segmented on the basis of type, product type, application, distribution channel, and region. By type, the market is divided into organic and conventional. By product type, it is classified into hand wash, face wash, surface cleaner, and others (beard wash, body wash, and dish wash). By application, it is classified into commercial (restaurants, hotels, institute, quick service restaurants, and others) and residential. By distribution channel, it is fragmented into specialty stores, supermarkets/hypermarkets, convenience stores, and online sales channel. By region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
♦Covid-19 Impact And Analysis
Impact of the COVID-19 crisis has witnessed a shift in consumer preference toward hand hygiene products such as liquid hand soap. In addition, increase in demand for health and wellness products, owing to rise in communicable diseases has increased demand for hand hygiene products. Further, increased coronavirus positive cases have increased preference of safety trends in homes, offices, and other public places, which is a major factor for growth in this market.
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Key players operating in the liquid soap market include Reckitt Benckiser Group plc., Procter & Gamble, Unilever, 3M, Lion Corporation, GOJO Industries Inc., Kao Chemicals, Godrej Consumer Products, Bluemoon Body care, and NEW AVON LLC. Other noticeable players in these markets are Softsoap, Dawn, Dial, Pears, Palmolive, Ivory, Marseillais, Sairo, Fax, My choice, and Lux.
Key Findings Of The Study
• In 2019, North America was the highest revenue-generating market, owing to rise in consumer awareness toward health & hygiene practices and rapid penetration in the market
• Europe has emerged to be the second largest market with the UK and France accounting for prominent shares of the overall market, by value.
• The face wash segment has emerged to be the most prominent segment, owing to rise in demand for liquid soaps.
• Asia-Pacific is expected to witness fastest growth from 2019 to 2027, owing to improvement in living standards and rise in disposable income among consumers in developing economies such as China and India
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