Some of the major driving factors include rising hygiene consciousness, product innovations, surging income levels and aggressive marketing strategies.
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The latest report by IMARC Group, titled “Bath Soap Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2017-2022”, finds that the global bath soap market reached a value of more than US$ 17 Billion in 2016, growing at a CAGR of around 5% during 2009-2016. Bath soaps are the most popular cleansing product and form an integral part of the personal care routine. These staple commodities were introduced thousand years ago for bathing and to maintain the hygiene level of the body. Bath soaps are made with animal fat, or vegetable or fish oil combined with an alkaline solution such as caustic soda or caustic potash. They are available in different forms and textures such as bar, shower gel and body wash.
Highlights of the global bath soap market:
Rising hygiene consciousness and changing lifestyle in urban areas are the major drivers of the market.
Surging disposable incomes along with product innovations further facilitate the market of bath soaps.
Asia-Pacific accounts for majority of the global share, representing the largest market.
There are various favourable factors driving the growth of the global bath soap market. Changing lifestyle, rising pollution and increasing consciousness about hygiene among the consumers has stimulated the growth of the market. It is essential to keep the skin clean and healthy, and thus various products are introduced by the manufacturers which are specific for different skin types according to the consumer demand. Further, increasing environmental concerns have contributed to the sales of eco-friendly products which contain natural ingredients and are packed in biodegradable packages. Moreover, surging disposable incomes coupled with a growing trend of premium and value-added products such as fragrance soaps, moisturizing soap with attractive packaging are boosting the demand for bath soaps. According to the report, the market is further anticipated to reach a value of more than US$ 20 Billion by 2022.
The market has been segregated on the basis of region. Currently, Asia-Pacific holds the majority of the global share, accounting for more than a third of the total global share. One of the biggest growth-inducing factors for the market is the increasing population in this region. The other major markets include Asia-Pacific, Europe, North America, Latin America, and Middle East and Africa. The competitive landscape of the market has also been analysed. It is found that some of the key players operating in the market include Procter & Gamble, Unilever and Colgate Palmolive.
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The report has examined the global bath soap market on the basis of:
Middle East and Africa
Procter & Gamble
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