IMARC Group’s latest report, titled “Bath Soap Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026,” finds that the global bath soap market size is witnessing moderate growth in 2020. Bath soap is a personal care product that is formulated using a combination of alkalis like caustic soda and caustic potash. It also consists of ingredients such as glycerin, vegetable or animal fats and other additives like allantoin, propylene glycol, sodium laureth sulfate, and triethanolamine. Bath soaps are used as a cleaning agent for unclogging pores, removing debris and dirt and conditioning the skin for a healthier appearance. Nowadays, they are available in various forms like bars and flakes, which individuals regularly utilize to soften the skin and maintain their hygiene.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Global Bath Soap Market Trends:
The global bath soap market is primarily driven by the growing awareness among the masses regarding personal hygiene and grooming. The increase in the population and economic growth has resulted in improving living standards, which is propelling the demand for soap across the world. Besides this, the leading market players are introducing innovative product variants targeted toward a specific consumer segment, such as children. Several manufacturers are also extensively investing in improving the aesthetic appearance of the product by using attractive and vibrant designs and colors of the packaging. Furthermore, the rising trend of product premiumization has encouraged consumers to shift toward using soaps made with natural and organic ingredients, such as aloe vera, shea butter, sea salt, lavender and calendula. On account of these factors, the market value is expected to reach US$ 27.2 Billion by 2026, exhibiting a CAGR of 4.6% during the forecast period (2021-2026).
- Based on the product type, the market has been bifurcated into premium and mass products. Amongst these, mass products represent the most popular segment, holding the largest market share.
- On the basis of the form, the market has been divided into solid and liquid bath soaps. Solid bath soaps currently dominate the market.
- Based on the distribution channel, the majority of the bath soaps are distributed through convenience stores. Other major channels of distribution are supermarkets and hypermarkets, pharmacies, specialty stores, and online.
- Region-wise, the market has been segmented into Asia Pacific, Europe, North America, Latin America, and Middle East and Africa. At present, Asia Pacific holds the leading position in the market.
The competitive landscape of the market has been examined, with some key players being Procter & Gamble Company, Unilever NV/PLC, and Colgate-Palmolive Company.
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