The evolution in lifestyle and consumption pattern has forced hygiene care providers to focus on innovating their offerings to make them befitting for effective hygiene standards as well as transforming consumption needs. The recent outbreak of COVID-19 pandemic has mandated people to maintain hand hygiene for avoiding the infection. This has caused stern rise in consumption of liquid hand soap by residential as well as non-residential users. The manufacturers have also observed an upsurge in revenue sales of liquid hand soaps during this epidemic. For instance, Colgate-Palmolive Company reported rise in sales of liquid hand soap in Europe through their first quarter amid coronavirus outbreak. The liquid hand soap market has evolved eventually to cater the environmental and naturalistic demands of consumers. There is a stern rise in the awareness about product formulations among consumers worldwide with growing focus on chemical-free and natural products. The demand for this natural products is higher in the urban areas. The inorganic elements used in the liquid hand soaps such as parabens, triclosan and sulphates are known to have adverse implications on humans. In 2016, the Food and Drug Administration (FDA) agency of U.S outlined criterion for soaps with banning usage of triclosan, triclocarban and 17 other antiseptics owing to concerns pertaining to its traces entering urine and breast milk. Such favourable initiatives from government authorities are further influencing the adoption of organic elements in liquid hand soaps. Owing to these factors, liquid soap manufacturers have established product innovation as a key strategy and are introducing natural ingredients based products. For instance, in March 2020, Frenchsoaps launched a new antibacterial liquid soap with plant based ingredients to maintain the moisture content of the hands. Similarly, liquid hand soap providers such as OleyHemp, Godrej Consumer Products, Oregon Soap Company and others also offer natural ingredient based liquid hand soap. Thus, the introduction of new chemical-free liquid soap formulations to cater the changing consumption trends is poised to fuel the growth of global liquid hand soap market over forecast years.
Access the Full Report @ https://www.absolutemarketsinsights.com/reports/Global-Liquid-Hand-Soap-Market-2019-2027-584
The growth potential of liquid hand soap market has encouraged several manufacturers to introduce organic and natural products. For instance, Tangent GC of Sweden entered the skin care market in 2016 with a series of liquid soap product offerings based on natural ingredients such as vegetable oils, cellulose gum, salt and water. They also launched their product in China in the year 2018. The liquid hand soap market is becoming highly competitive with increasing number of natural/organic product manufacturers entering the space.
Hence, in order to efficiently penetrate into the market, these manufacturers are focusing on product enhancement by introducing value added features. For instance, BECO Spring Meadow foaming hand wash is based on a natural vegan formula which does not lather and hence saves over 88L of water per bottle with lasting 2.5 times longer. Personal care hygiene product manufacturers are also concentrating their efforts on developing a multipurpose soap for establishing uniformity in hygiene and eliminating hassle of maintaining different products for different purposes. For instance, Stephenson has launched Liquid Soap 2020 multi-purpose soap base for personal care and home cleansing in April, 2020. Liquid Soap 2020 is derived from natural vegetable oil and fatty acids. This product is suitable for multi-purpose applications for hand and body washing, surface cleaning and other applications, thus easing the hygiene maintenance at residential and commercial locations. Thus, the emerging market players along with upcoming innovative formulas with value added capabilities are anticipated to boost the growth of global liquid hand soap market over forecast years.
In terms of revenue, global liquid hand soap market was valued at US$ 1.79 Bn in 2018 and is anticipated to grow at a CAGR of 3.4% over the forecast period and reach US$ 2.40 Bn by 2027. The study analyses the market in terms of revenue across all the major regions, which have been bifurcated into countries.
The detailed research study provides qualitative and quantitative analysis of liquid hand soap market. The market has been analyzed from demand as well as supply side. The demand side analysis covers market revenue across regions and further across all the major countries. The supply side analysis covers the major market players and their regional and global presence and strategies. The geographical analysis done emphasizes on each of the major countries across North America, Europe, Asia Pacific, Middle East & Africa and Latin America.
Key Findings of the Report:
- The global liquid hand soap market was valued at 1.79 Bn in 2018 and is anticipated to grow at a CAGR of 3.4% over the forecast period owing to rise in hygiene awareness.
- Residential end user contributed a significant share in the global liquid hand soap market in 2018 owing to high hygiene practice among individuals at home.
- North America held the highest market share in global liquid hand soap in 2018. Asia Pacific is expected to grow at the highest CAGR over the forecast period owing to the expanding medical infrastructure.
- Some of the players operating in the liquid hand soap market are 3M, Americol BV, Byredo, Cleenol Group Ltd., Colgate-Palmolive Company, Cussons, Deb Group Ltd, EO Products, Godrej Consumer Products Ltd, Grassland Corporation, Henkel Corporation, Johnson & Johnson, KAO Corporation, Kleanfix, Ningbo Jiangbei Ocean Star Factory & Trading Co., Ltd, PREMCO, Procter & Gamble, Reckitt Benckiser Group Plc, Simply Soaps, Soapbox, STERIS Plc, The Caldrea Company, The J.R. Watkins Co., Tropical Products and Unilever amongst others.
Global Liquid Hand Soap Market:
- By Ingredients
- By End Use
- By Distribution Channel
- Retail/Convenience Stores
- By Region
- North America
- Rest of North America
- The UK
- Nordic Countries
- Benelux Union
- The Netherlands
- Rest of Europe
- Asia Pacific
- New Zealand
- South Korea
- Southeast Asia
- Rest of Southeast Asia
- Rest of Asia Pacific
- Middle East and Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
- Latin America
- Rest of Latin America
Company: Absolute Markets Insights
Email id: email@example.com
Contact Name: Shreyas Tanna