Soap And Cleaning Compounds Market Outlook 2024: Exclusive Report By The Business Research Company

The Business Research Company has updated its global market reports, featuring the latest data for 2024 and projections up to 2033

The Business Research Company offers in-depth market insights through Soap And Cleaning Compounds Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.

Market Size And Growth Forecast:
The soap and cleaning compounds market size has grown strongly in recent years. It will grow from $190.89 billion in 2023 to $207.75 billion in 2024 at a compound annual growth rate (CAGR) of 8.8%. The growth in the historic period can be attributed to hygiene awareness, population growth, urbanization, industrialization, environmental regulations.

The soap and cleaning compounds market size is expected to see strong growth in the next few years. It will grow to $290.33 billion in 2028 at a compound annual growth rate (CAGR) of 8.7%. The growth in the forecast period can be attributed to the increasing demand for eco-friendly and sustainable cleaning products, health and safety, e-commerce and digitalization, regulatory changes, globalization. Major trends in the forecast period include natural and organic products, antibacterial and disinfectant products, diy and homemade cleaning solutions, smart and connected cleaning devices, subscription and refill services.

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Market Segmentation:
The main types of soap and cleaning compounds are soap and other detergents, surface-active agents, polish, and other sanitizing goods. Surface active agents are substances that will reduce the surface tension of a liquid in which they are dissolved, thereby increasing their spreading and wetting properties. The categories are mass and premium. The applications are household and commercial. The end-use applications are health and beauty, dishwashers, clothes, and other end-use applications. The distribution channels are hypermarkets and supermarkets, e-commerce, pharmacy stores, and other distribution channels.

Major Driver - Growth In The Automotive Industry Boosts The Growth Of The Soaps And Cleaning Products Market
The growth of the automotive industry is expected to propel the growth of the soaps and cleaning products market going forward. Automobiles, commonly known as cars or vehicles, are self-propelled wheeled vehicles designed for road transportation. Cleaning compounds and soaps have a crucial role within the automotive sector, serving diverse functions in vehicle care, manufacturing, and overall hygiene. For instance, in March 2022, according to the European Automobile Manufacturers' Association (ACEA), the lobbying and standards group for the automobile industry, the sales of passenger cars in the US increased by 5.5% from 2020 to 11.9 million units in 2021. Further, around 6.3 million passenger cars were produced in US auto facilities in 2021, an increase of 3.1% from 2020. Therefore, the growth of the automotive industry is driving the growth of the soap and cleaning products market.

Competitive Landscape:
Major companies operating in the soap and cleaning compounds market include Procter & Gamble, Unilever plc, SC Johnson & Son Inc, Henkel AG & Co KGaA, Ecolab Inc, BASF SE, Colgate-palmolive co, Kao Corporation, Reckitt Benckiser Group plc, The Clorox Co., Method Products PBC, Ecover, Mrs. Meyer's Clean Day, Dr. Bronner's, L'Occitane International S.A., Crabtree & Evelyn, The Body Shop International Limited, Bath & Body Works LLC, Lush Cosmetics, Natura & Co Holding S.A., Avon Products Inc., Beiersdorf AG, Shiseido Company Limited, L'Oreal S.A., Estee Lauder Companies Inc., JohnsonDiversey Inc., Diversey Inc., Betco Corporation, ZEP Inc., Spartan Chemical Company Inc.

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Top Trend - Shifting From Triclosan And Triclocarban To Safer Alternatives In The Soap Industry
Companies in the industry are replacing triclosan and triclocarban with chemicals such as benzalkonium chloride, benzethonium chloride, or chloroxylenol (PCMX) as they are known to be harmful to both health and the environment. Triclosan and triclocarban are the anti-microbial ingredients used in personal care products to stop or slow the growth of bacteria that cause harm. These agents are used in products such as soaps, lotions, hand washes, toothpaste, mouthwashes, soaps, deodorants, and cleaning compounds. The Food & Drug Administration stated that the manufacturers did not demonstrate the ingredients to be safe for long-term daily use and more effective in preventing illness and the spread of infections. They are also found in water bodies, thus affecting marine life. For instance, P&G and Unilever, consumer product companies, stopped manufacturing and using triclosan and triclocarban agents and are replacing them with other chemical ingredients.

The Table Of Content For The Market Report Include:
1. Executive Summary
2. Soap And Cleaning Compounds Market Characteristics
3. Soap And Cleaning Compounds Market Trends And Strategies
4. Soap And Cleaning Compounds Market - Macro Economic Scenario
5. Soap And Cleaning Compounds Market Size And Growth
…..
27. Soap And Cleaning Compounds Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix

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