The global soap market size is projected to reach USD 55.29 billion by 2027, exhibiting a CAGR of 5.0% during the forecast period. Rapid transmission of the COVID-19 infection is set to play a central role in fueling the growth of this market, states Fortune Business Insights™ in its recent report, titled “Soap Market Size, Share & Industry Analysis, By Product Type (Bath & Body Soaps, Kitchen Soaps, and Laundry Soaps), Form (Solid and Liquid), Application (Household and Commercial), Distribution Channel (Hypermarkets/Supermarkets, Pharmacies, Online Channels, and Others), and Regional Forecast, 2020-2027”.

According to the World Health Organization (WHO), the coronavirus spreads through respiratory droplets and physical contact. Therefore, to avoid spreading the virus through these routes, the WHO along with many other bodies such as the Centers for Disease Control and Prevention (CDC) have recommended regular washing of hands using soap and water. Comprehensive washing of hands kills the virus and this practice is currently seen as the most effective way to preventing transmission among people, especially given that a vaccine for the infection is many months away. Thus, the demand for soaps in all shapes and forms is slated to experience meteoric rise as the COVID-19 pandemic intensifies and worsens during the current year.

Fragmented Market Structure to Shape Competitive Dynamics

Presence of a sizeable number of local, regional, and global players has created a fragmented structure of this market. These players are constantly innovating to align their products with the changing consumer preferences and gain the essential edge against other players.

List of Key Players Covered in the Soap Market Research Report are:

Beiersdorf AG (Germany)
Reckitt Benckiser Group plc (U.K.)
Kao Corporation (Japan)
Unilever (U.K.)
Henkel AG & Co. KGaA (Germany)
Ecolab Inc.(U.S.)
Johnson & Johnson Services, Inc. (U.S.)
Natura & Co. (Brazil)
Procter & Gamble Co. (U.S.)
Colgate-Palmolive Co.(U.S.)
Browse More Information: https://www.fortunebusinessinsights.com/soap-market-102841

Market Driver

Rising Popularity of Organic Soaps to Boost the Market

The soap market growth is likely to benefit from the steadily climbing popularity of organic soaps and soap products. This changing demand trend is driven by the multiple advantages that these type of soaps offer over their traditional counterparts. For example, organic soaps do not contain harmful substances such as paraben and triclosan, which have anti-bacterial properties, but are hazardous to the body and the environment as they are made out of petrochemicals. Instead, these soaps are infused natural ingredients such as Aloe Vera and turmeric, which have natural anti-bacterial properties and cause no harm to the body.

Regional Analysis

Escalating Number of COVID-19 Cases in the US to Surge Demand for Soaps in North America

With nearly 1.5 million confirmed cases and over 86,000 deaths, the US is currently the worst-hit country by the coronavirus pandemic. As a consequence, the demand for soap products is surging in the country, which will enable North America to dominate the soap market share in the immediate future.

Increasing awareness about hygiene and sanitation fueled by rising literacy rate will be the key factor driving the market in Asia-Pacific and ensuring its prominent position in the market. Furthermore, organizations such as the UN Children’s Fund (UNICEF) regularly conduct awareness campaigns in rural areas to spread awareness about clean hygiene practices and their role in preventing spread on diseases. In Europe, high hygiene consciousness and demand for personal care products by men are expected to drive the market.


Read Press Release: https://www.fortunebusinessinsights.com/press-release/soap-market-9968