Press release
Hand Soap Market is Expected to Witness Rapid Growth of Around 6.7% During Forecast Period 2021-2031
The market study done by Fact.MR gives exclusive information about how the market will grow. The study identifies crucial trends that are determining the growth of Hand Soap market. This newly published report sheds light on vital dynamics, such as the drivers, restraints, and opportunities for key market players as well as emerging players associated with the production and supply. The latest report by Fact.MR provides detailed Market Analysis of Hand SoapThe report offers actionable and valuable market insights of Hand Soap. The latest report by Fact.MR provides details on the present scenario of the market across various regions along with the historic data and forecast of the market. The report also includes information on the sales and demand of Hand Soap Market across various industries and regions.
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This newly published and insightful report sheds light on Market Insights of Hand Soap, key dynamics, their impact on the overall value chain from suppliers to end-users and Growth of Hand Soap Market.
Global Hand Soap market is forecast to witness rapid growth of around 6.7% over the forecast period of 2020-2030. Of all applications, the household segment accounts for more than 70% of the market share.
Escalating demand for hand soap was observed in the first quarter of 2020 owing to the COVID-19 pandemic. In the 2nd quarter, the demand is projected to follow an upward trend with increasing awareness about hand hygiene across regions.
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Hand Soap market Segmentation
Fact.MR has studied the hand soap market with detailed segmentation on the basis of pack size, application, sales channel, and key regions.
Pack Size
100 ml to 200 ml
200 ml to 500 ml
500 ml to 1L
1L to 5L
Application
Industrial
Medical & Clinical
Household
Others
Sales Channel
Retail Stores
Hyper Markets
Big-box retailers
Pharmacies
Mom & pop stores
E-Commerce
Region
North America
Latin America
Europe
East Asia
South Asia & Oceania
Middle East & Africa
“This taxonomy prepared is confidential and intended exclusively for the individual or entity with whom it is being shared. Reading, disseminating, distributing, or copying this to any party other than the addressee(s) is unauthorized and prohibited.”
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Key Takeaways of Global Hand Soap Market
Global hand soap market is anticipated to create a value opportunity of around US$ 25 Bn during the forecast period, adding 2X more value as compared to 2020
Consumer preference for retail stores over E-commerce sales channel, for the purchase of hand soaps is set to drive retail store sales at a Y-o-Y of 7.2% over the forecast period
Household applications are set to grow at a rate of 7.4% in the forecast period through 2030 and are set to gain ~160 BPS over the assessment period
Europe holds the leading share in the hand soap market and accounts for 7,000 million litres of hand soap demand
MEA and South Asia & Oceania market are growing at a moderate pace, owing to lesser product awareness and low household spending
Global Hand Soap market is consolidated in nature with only 15-25 manufacturers of liquid hand soap across regions
“Hand soap is gradually topping consumers’ wish list owing to targeted branding. This is despite lower budget constraints, thus increasing the rate of returning consumers” says a Fact.MR analyst.
Strong Foothold of Hand Soap Titans has put New Entrants at Bay
Hand Soap market stakeholders have generated greater profit margins in the historical period of 2015-2019. According to a Fact.MR consumer survey, consumers have set their expectations and choices limited to only select companies. This has become a barrier for new entrants in the market. Market stakeholders such as Johnson & Johnson, Reckitt Benckiser, Unilever, Henkel, ITC, Procter & Gamble, Amway etc., have a strong foothold across various regions in the hand soap market.
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Key Question answered in the survey of Hand Soap market report:
Sales and Demand of Hand Soap
Growth of Hand Soap Market
Market Analysis of Hand Soap
Market Insights of Hand Soap
Key Drivers Impacting the Hand Soap market
Which are the Key drivers impacted by Hand Soap market
Restraints Shaping Market Growth
Market Survey of Hand Soap
More Valuable Insights on Hand Soap Market
Fact.MR, in its new report, offers an unbiased Market Analysis of Hand Soap, Sales and Demand of Hand Soap, analyzing forecast statistics through 2019 and beyond. The study reveals growth projections on the basis of various criteria.
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