Liquid Soap Market

Liquid Soap Market Size:

The global liquid soap market size reached US$ 20.9 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 34.6 Billion by 2032, exhibiting a growth rate (CAGR) of 5.6% during 2024-2032. The market is propelled by the rising consumer preferences for hygiene and sanitation products, increasing awareness about hand hygiene so as to avoid the spread of diseases, increasing availability and variety of liquid soap products, rapid shift toward organic products, and rising demand for sustainable packaing.

Liquid Soap Market Analysis:

• Major Market Drivers: Rising consumer preferences for hygiene and sanitation products, increasing availability and variety of liquid soap products, and the growing awareness about hand hygiene to avoid disease spread, are some of the major market drivers.
• Key Market Trends: Some of the major market trends include drastic shift toward organic soap formulations, rising demand for antibacterial and antimicrobial soap, and growing demand for eco-friendly and sustainable packaging.
• Geographical Trends: Asia Pacific dominates the market on account of the rapidly increasing population across the region, rising disposable income levels, and the rising awareness about hygiene and sanitation.
• Competitive Landscape: 3M Company, Cleenol Group Ltd., Colgate-Palmolive Company, Godrej Consumer Products Limited, GOJO Industries Inc/, Henkel AG & Co. KGaA, Kao Corporation, Lion Corporation, Medline Industries LP, Procter & Gamble Company, Reckitt Benckiser group PLC, and Unilever PLC, are among some of the key players in the liquid soap industry.
• Challenges and Opportunities: Tough international competition, variable raw material costs, and rising environmental concerns associated with plastic packaging are some of the challenges in the industry. On the other hand, liquid soap market recent opportunities include rising demand for premium products, increasing production of innovative soaps, expansion across untapped markets.
   

Liquid Soap Market Trends:

Growing Demand for Hygiene and Sanitation Products

The increasing awareness about health and hygiene is substantially propelling the market growth. With the rising number of individuals becoming aware about the necessity of cleanliness on account of the prevailing diseases, there is an increasing shift toward adoption of hygiene related products. Liquid soap specifically has become a popular choice in comparison to the conventional bar soap, on account of its convenience, effectiveness, and hygienic nature. These soaps have proved their efficacy in eliminating oils, dirt, and microbes from the skin. Unlike bar soaps which can lose efficacy when left wet and used repeatedly, liquid soaps maintain cleanliness with each pump. This hygienic nature of the product, in confluence with its packaging and dispensing mechanism, increasing the liquid soap demand globally.

Increasing Availability and Variety of Products

The increasing availability of these products is catering to the evolving consumer demands and preferences of the consumers, thereby propelling the market growth. The leading companies are developing formulations integrated with moisturizing agents, natural and organic components, and distinctive features such as antibacterial properties. This distinction has further made these products appealing to a wider consumer base, such as those with specific skin concerns or those seeking organic and eco-friendly products. Other than this, the packaging of these products has evolved as per the liquid soap market forecast which states rising demand for convenience of the consumers and products aiming toward minimizing environmental impact. Moreover, key players are also innovating new product lines after extensively investing in research and development (R&D) activities. For instance, in March 2023, UNILEVER launched its first dishwashing detergent in Indonesia under its brand LIFEBUOY. This new product would assist individuals with quality cleaning products at economical prices.

Sudden Outburst of the COVID-19 Pandemic

The sudden outburst of the COVID-19 pandemic is creating a positive liquid soap market outlook. This global pandemic highlighted the importance of hand hygiene in preventing the transmission of this virus thereby propelling the market growth. Governments and health organizations globally introduce extensive public health campaigns to educate individuals about the importance of regular handwashing with soap and water as a major preventive measure against COVID-19. This rising awareness substantially increased the market for liquid soap, as individuals are opting for reliable and effective hygiene solutions in order to safeguard themselves and their families. In line with this, this pandemic led to the changes in consumer behavior with a significant shift toward more frequent handwashing and the usage of hygiene products.

Liquid Soap Industry Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the market, along with forecasts at the global, regional, and country levels for 2024-2032. Our report has categorized the market based on type, product type, distribution channel, and application.

Breakup by Type:

• Organic
• Conventional
   

Conventional soap accounts for the majority of the market share

The report has provided a detailed breakup and analysis of the market based on the type. This includes organic and conventional. According to the report, conventional represented the largest segment.

Conventional holds the largest liquid soap market share on account of its easy availability, affordability, and consumer familiarity. These soaps are easily accessible in numerous retail formats, from supermarkets to local convenience stores, which makes them a popular choice for a wide consumer base. These products are usually available in a wide array of scents and formulations, offering their products to a wider consumer base. Other than this, the economical nature of conventional liquid soaps in comparison to their organic or specialized counterparts makes them a popular choice for budget-conscious individuals.

Breakup by Product Type:

• Bath and Body Soaps
• Dish Wash Soap
• Laundry Soaps
• Others
   

Bath and body soaps holds the largest share in the industry

A detailed breakup and analysis of the market based on the product type have also been provided in the report. This includes bath and body soaps, dish wash soap, laundry soaps, and others. According to the report, bath and body soaps accounted for the largest market share.

Bath and body soaps hold maximum number of shares on account of their vigorous use in daily personal hygiene activities. These products are vital for maintaining cleanliness and skin health, thereby making them a primary choice in households globally. The numerous formulations available such as antibacterial, moisturizing, and fragrance-infused options cater to changing consumer needs and skin types. Other than this, the rising trend toward self-care and wellness has led to a rapid liquid soap market growth. Moreover, key players are developing numerous packaging innovations and product formulations in order to expand their product portfolio.

Breakup by Distribution Channel:

• Supermarkets and Hypermarkets 
• Convenience Stores 
• Specialty Stores
• Online Stores
• Others
   

Supermarkets and hypermarkets represent the leading market segment 

The market report has provided a detailed breakup and analysis of the market based on the distribution channel. This includes supermarkets and hypermarkets, convenience stores, specialty stores, online stores, and others. According to the report, supermarkets and hypermarkets represented the largest segment.

Supermarkets and hypermarkets hold maximum number of shares in the industry due to a wide range of factors. Primarily, these outlets offer numerous products, offering individuals with a wide variety of products offering consumers with choices in formulations, brands, and packaging sizes, offering individuals with a wide array of preferences. Besides this, supermarkets and hypermarkets often possess competitive pricing and frequent promotions, catering to budget-friendly individuals. In line with this, according to the liquid bath market analysis, the prominence of supermarkets and hypermarkets is strengthening their ability to offer a wholistic shopping experience, in confluence with variety, convenience, and affordability.

Breakup by Application: 

• Households
• Commercial
   

Households exhibits a clear dominance in the market 

A detailed breakup and analysis of the market based on the application have also been provided in the report. This includes households and commercial. According to the report, households accounted for the largest market share.

Households dominate the market on account of the widespread utilization of liquid soap for daily hygiene routines. The effectiveness, convenience, and hygiene nature of liquid soap make it a popular choice for regular use in houses. Besides this, the COVID-19 pandemic lead to the increased awareness about hand hygiene, thereby leading to an increased consumption of liquid soap in households. The constant usage of the product in households for personal hygiene in confluence with the focus on maintaining a germ-free environment, is generating a positive liquid wash market revenue.

Breakup by Region:

• North America
  • United States
  • Canada
• Asia-Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Indonesia
  • Others
• Europe
  • Germany
  • France
  • United Kingdom
  • Italy
  • Spain
  • Russia
  • Others
• Latin America
  • Brazil
  • Mexico
  • Others
• Middle East and Africa
   

Asia Pacific leads the market, accounting for the largest liquid wash market share

The market research report has also provided a comprehensive analysis of all the major regional markets, which include North America (the United States and Canada); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa. According to the report, Asia Pacific accounted for the largest market share.

Asia Pacific dominates the market on account of the rapidly growing population across the region which substantially increases the need for hygiene products. For instance, one of the most important and developing nations of the region includes India, with a population of 1,417,173,167 as of 2022 with an expected rise of 18% to 1,670,490,587 by the year 2050. Additionally, the rapidly increasing urbanization and increasing disposable income level is also creating a positive liquid wash market overview. Other than this, the significant impact of the sudden outburst of COVID-19 cannot be ignored, governments across the region initiated numerous campaigns so as to spread awareness for washing hand with soap in as a primary preventive measure against the virus.

Competitive Landscape:

• The market research report has also provided a comprehensive analysis of the competitive landscape in the market. Detailed profiles of all major companies have also been provided. Some of the major liquid soap companies include 3M Company, Cleenol Group Ltd., Colgate-Palmolive Company, Godrej Consumer Products Limited, GOJO Industries Inc., Henkel AG & Co. KGaA, Kao Corporation, Lion Corporation, Medline Industries LP, Procter & Gamble Company, Reckitt Benckiser Group PLC and Unilever PLC.
  
  (Please note that this is only a partial list of the key players, and the complete list is provided in the report.)
   
• Key players in the liquid soap industry are engaging in various strategic activities to strengthen their market positions and meet evolving consumer demands. Major companies are focusing on product innovation, introducing new formulations with added benefits such as moisturizing properties, natural ingredients, and antibacterial features. These innovations cater to the growing consumer preference for health and wellness-oriented products. Additionally, these companies are investing heavily in marketing and promotional activities to increase brand visibility and consumer engagement, thereby driving the liquid soap industry growth. This includes leveraging digital platforms and social media to reach a broader audience and drive sales through online channels. Moreover, strategic partnerships and acquisitions are being pursued to expand their product portfolios and geographical presence, ensuring they can meet the diverse needs of a global consumer base.

Latest News: 

• February 2024: Dr. Bronner’s, family-owned maker of the top-selling natural brand of soap in North America, has announced the nationwide launch of a new 32 oz. Soap Refill Carton package for its Pure-Castile Liquid Soap. Now available in multiple retailers across the United States, the Soap Refill Carton can be used to refill existing bottles or other containers for personal care and home cleaning use. By purchasing this product, consumers will reduce their plastic use by 82% compared to the company’s 32 oz. post-consumer recycled (PCR) plastic bottles.

Liquid Soap Market Report Scope:

Key Benefits for Stakeholders:

• IMARC’s industry report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the liquid soap market from 2018-2032.
• The research report provides the latest information on the market drivers, challenges, and opportunities in the global liquid soap market.
• The study maps the leading, as well as the fastest-growing, regional markets. It further enables stakeholders to identify the key country-level markets within each region.
• Porter's five forces analysis assists stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the liquid soap industry and its attractiveness.
• The competitive landscape allows stakeholders to understand their competitive environment and provides insight into the current positions of key players in the market.