Bath & Shower Toiletries Market Proposals & Trends Leading to 37% CAGR Growth during 2017-2022
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Bath and shower toiletries refer to products such as shower gel, soap, shampoo, hair conditioner and other body wash products. These products are used for body and hair care as well as for maintaining skin freshness, to control sweat, and skin smoothening.
Global bath and shower toiletries market is projected to witness a modest growth over the next couple of years. The market is likely to be influenced by rising concerns over skin care, especially in the Western countries where a large number of consumers are highly conscious about their skin and hair quality. Moreover, growing demand for natural and organic bath and shower toiletries products is creating new growth opportunities for market player.
As the global population continues to grow, demand for bath & shower toiletry products is expected to further escalate. Moreover, increased consumer consciousness about hygiene and rising standard of living is reflecting positively on the global sales of bath & shower toiletry products. Spending on personal grooming products is on a rise, and this is positively impacting the global bath and shower toiletries market. The bath and shower toiletries market is estimated to grow to almost US$ 48 billion in 2022 at a CAGR of 3.7%.
3 Key Insights from Fact.MR’s Report on Bath & Shower Toiletries Market
· On the basis of product type, the shower products segment is projected to account for the largest revenue share of the market over the forecast period. This segment is projected to reach US$ 16,250.2 Mn by 2022-end, reflecting a CAGR of 3.8%. Shower products are common worldwide and are available in various price range and variants. Meanwhile, the liquid bath products segment is expected to register the fastest CAGR.
· Based on sales channel, hypermarkets/supermarkets will continue to be the leading sales channel for bath & shower toiletries products. The hypermarkets/supermarkets segment is expected to surpass US$ 22 Bn in revenues towards the end of the forecast period. The retailers segment is estimated to account for over 35% revenue share of the market.
· Among regions, the bath & shower toiletries market in North America is projected to remain dominant in 2017 and the trend is likely to continue throughout the forecast period. The region’s market is expected to expand at a steady CAGR through 2022. In recent years, sales of organic and natural ingredients based bath & shower toiletries products have surged in countries such as the US and Canada. Increasing concerns over of carcinogenic nature of synthetic bath and shower toiletries product is prompting consumer to switch to natural variants. Europe is also expected to remain a lucrative market for bath & shower toiletries market during the assessment.
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The shower segment and liquid bath segment have a revenue share of over 50% collectively, making them critical in the bath and shower toiletries market. The shower segment is on track to surpass US$ 15 Bn, of which North America alone accounts for 37% revenue share. The liquid bath segment is poised to witness a slightly higher CAGR for the period 2017-2022. Key stakeholders could actively look at targeting Europe as the region has a number of world fashion capitals and a population that would be easy to market beauty products available in the bath and shower toiletries market to.
Significant Opportunity in Bath Additives Compared to Bar Soap Segment
The bath additives segment of the bath and shower toiletries market is estimated to grow significantly during the forecast period. This is considerably larger than the bar soap segment that should only just surpass US$ 6 billion by the end of 2022 with a comparatively low CAGR during the forecast period. North America is projected to retain its contribution of 1/3rd in the bar soap segment of the bath and shower toiletries market throughout the duration of the study period and companies are recommended to devise their strategies accordingly.
Focus on Hypermarkets in the Bath and Shower Toiletries Market
A revenue share of nearly half of the global market makes hypermarkets/supermarkets the most lucrative segment by distribution channel in the bath and shower toiletries market. The segment is expected to grow by 4.3% for the five year period and reach US$ 23 billion in 2022. North America and Europe are already the two largest contributors on account of their well-developed retail infrastructure and they are anticipated to retain their lead over other regions in the bath and shower toiletries market. However, it would be unwise to entirely bypass retailers in favour of exclusive agreements with hypermarkets in the bath and shower toiletries market. The retail segment should push past US$ 14 billion in 2017 itself and companies could potentially look at fast-growing countries in the APEJ region to attack.
Online Channel Important in the Bath and Shower Toiletries Market
Online channels currently account for a revenue share of nearly 11% by sales segment in the bath and shower toiletries market but the e-commerce boon in progress across the world makes it likely that this will change very soon. Therefore, several companies have already begun investing in this critical sales channel and it is advisable to those who haven’t, as it seems, been unwise to ignore a potential market opportunity of nearly US$ 5 billion in 2022.
Overall, the global bath and shower toiletries market will continue to be influenced by evolving consumer trends. The role of packaging in increasing brand visibility is also a growing trend in the global market. During the forecast period, there will a plethora of developments that can shape the future of this market.
The report has also outlined the competitive landscape of global market for bath & shower toiletries, which includes companies such as Unilever N.V., Procter & Gamble, Johnson & Johnson, Colgate-Palmolive Company, The Himalaya Drug Company, Avon Products, Inc., Bentley Laboratories Llc, Sebapharma GmbH & Co. KG., The Hain Celestial Group, Inc., and ITC Limited.
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