Press release
Global Soap Noodles Market Expected to Reach US$ 3.2 Bn by 2024: Transparency Market Research
Transparency Market Research has published a new market report titled “Soap Noodles (Vegetable Oil and Tallow) Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2016–2024.” According to the report, the global soap noodles market was valued at US$ 2.58 Bn in 2015 and is anticipated to reach US$ 3.28 Bn by 2024, expanding at a CAGR of 2.7% between 2016 and 2024.Soap noodles are sodium salts of fatty acids that are manufactured from vegetable oils such as coconut oil or olive oil, palm oil, and animal fats (tallow). They are produced from the reaction between fatty acids and sodium hydroxide. Soap noodles are base soaps primarily used in the manufacture of soap bars. Different types of soap noodles are produced. These include opaque, translucent, and, transparent soap noodles.
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Soap noodles are categorized into different types depending on raw materials used such as vegetable oil and tallow. In 2015, Vegetable oil based soap noodles accounted for the major share of the soap noodles market vis-à-vis tallow based soap noodles. Different specifications of soap noodles are produced by adding various functional additives depending on their end-use applications such as toilet soaps, laundry soaps, translucent soaps, high lather soaps, and medicated soaps. Abundant supply of palm oil and rise in consumer preference regarding the usage of vegetable based materials are the major factors estimated to drive the vegetable oil segment during the forecast period.
Increase in awareness about hygiene and rise in standard of living have propelled the demand for soap bars. This, in turn, is expected to augment the demand for soap noodles in the near future. Expansion of product portfolio of soap bars coupled with addition of functional additives has resulted in development different types of soaps such as herbal soap, moisturizing soap, and anti-bacterial soap has fueled the demand for soap bars. This, in turn, is driving the demand for soap noodles.
In terms of volume, Asia Pacific accounted for the largest share of the soap noodles market in 2015. Presence of large population in the region is one of the major factors anticipated to augment the soap noodles market in the near future. Large number of soap noodles suppliers are concentrated in countries such as Indonesia and Malaysia due to large reserves of palm plantation in this region. Majority of soap noodles manufacturers are backward integrated and have developed long term supply agreements with soap bar manufacturers. The competition level between the soap noodles manufacturers is mainly based focused on prices and reliability of supply.
Major players operating in the soap noodles market include Deeno Group, IOI Oleochemicals, John Drury, KLK OLEO, Musim Mas Holdings., Adimulia Sarimas Indonesia, Permata Hijau Group, VVF Limited, Wilmar International Ltd, and 3F INDUSTRIES LTD.
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Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.
TMR’s data repository is continuously updated and revised by a team of research experts so that it always reflects the latest trends and information. With extensive research and analysis capabilities, Transparency Market Research employs rigorous primary and secondary research techniques to develop distinctive data sets and research material for business reports.
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