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The Liquid Hand Soap market size is estimated to grow at a CAGR of 7.98% and the size of the market is forecast to increase by USD 1,987.9 million between 2022 and 2027. The growth of the market depends on several factors, including the increasing number of cases of pandemic diseases, the growing number of campaigns focusing on hygiene, and the launch of innovative products.
This report extensively covers market segmentation by type (synthetic and organic), distribution channel (offline and online), and geography (APAC, North America, Europe, Middle East, and Africa, and South America). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 to 2021.
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The increasing prevalence of pandemic diseases is notably driving the liquid hand soap market growth, although factors such as stringent government regulations and standards may impede the market growth. Our researchers studied the data for years, with 2022 as the base year and 2023 as the estimated year, and presented the key drivers, trends, and challenges for the market. Although there has been a decrease in demand for the market during the COVID-19 pandemic, a holistic analysis of drivers will help companies refine marketing strategies to gain a competitive advantage.
Key Liquid Hand Soap Market Driver
The increasing prevalence of pandemic diseases is notably driving the liquid hand soap market growth. Personal hygiene, particularly hand washing, plays a crucial role in preventing the spread of infectious diseases. Global health authorities, including the World Health Organization (WHO) and the CDC, are taking measures to emphasize the importance of hand hygiene and promote products such as hand wash and sanitizers. The use of liquid hand soap to prevent the spread of diseases like the flu is positively impacting the global liquid hand soap market's growth. Adopting a healthy hand hygiene routine, such as regularly washing and cleaning hands, is the best way to avoid acquiring infectious diseases. The rising awareness about infectious diseases and their modes of transmission is expected to drive the market's growth during the forecast period.
Key Liquid Hand Soap Market Trend
The growth of the liquid hand soap market is being driven by the increasing prevalence of pandemic diseases. The growth of the liquid hand soap market is being driven by a primary trend, which is the increase in the number of advertisements, social media reach, and celebrity endorsements. In today's market, where product and price differentiation among brands is low, marketing has become a crucial tool for vendors. Therefore, vendors are focusing more on advertising and other marketing programs to distinguish their products from their competitors.
As social media platforms, such as Facebook, Twitter, and YouTube, play a crucial role in spreading product awareness and information on product benefits, vendors are using these channels to market their products. Many brands have a strong social media presence to inform their customers about the latest products available in the market and build their brand reputation. These factors are expected to contribute to the growth of the global liquid hand soap market during the forecast period.
Key Liquid Hand Soap Market Challenge
Stringent government regulations and standards are the major challenges impeding the liquid hand soap market growth.The US Food and Drug Administration (FDA) regulates the use of chemical ingredients in beauty and personal care products, including liquid hand soap, in order to ensure compliance with standard regulations. Non-compliant products are not approved for use by the FDA. However, the use of chemical ingredients in liquid hand soap must be within prescribed limits to avoid causing health hazards.
In addition, liquid hand soap vendors must adhere to government regulations related to product labeling. Some liquid hand soaps contain ingredients such as parabens, fragrances, and phthalates, which can be harmful. Therefore, vendors that wish to enter the US market must comply with labeling and packaging regulations. This poses a challenge for manufacturers trying to penetrate a new market. Moreover, it is illegal for manufacturers of liquid hand soap to make false claims about their products. Although the US FDA has established certain regulations, beauty and personal care products are not pre-tested for approval under its laws. As a result, the FDA can only take action if issues arise concerning product ingredients or labeling. Thus, the stringent regulations on product composition, labeling, and packaging may hinder the growth of the liquid hand soap market during the forecast period.
Key Liquid Hand Soap Market Customer Landscape
Our analysis of the Life Cycle of the market indicates a movement from the innovator’s stage to the laggard’s stage. The report illustrates the lifecycle of the market, focusing on the adoption rates of the major countries including the US, China, India, Germany, and the UK. Technavio has included key purchase criteria, adoption rates, adoption lifecycles, and drivers of price sensitivity to help companies evaluate and develop growth strategies from 2022 to 2027.
Global Liquid Hand Soap Market Customer Landscape
Vendors are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market
Medline Industries LP - The company offers liquid hand soap called Spectrum antibacterial foaming hand soap, which protects people from germs and moisturizes the hands. The company manufactures and offers hospital, nursing, medical and healthcare-related products under various product lines, such as advanced wound care, anaesthesia, diagnostics, nutrition, surgery, and skin care among others.
We also have detailed analyses of the market’s competitive landscape and offer information on 20 market vendors, including :
Qualitative and quantitative analysis of vendors has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak.
Based on type, the market is segmented into synthetic and organic. The market share growth by the synthetic segment will be significant during the forecast period. In 2022, the synthetic segment accounted for the highest share of the market. Consumers greatly prefer synthetic liquid hand soap because it kills bacteria and other microbes effectively. It is made of synthetic chemical agents such as sodium lauryl sulfate. However, the adverse effects of synthetic liquid hand soap might negatively affect the adoption of liquid hand soap during the forecast period. Rapidly rising hygiene concerns among people have fueled a global increase in demand for synthetic liquid hand soaps. Vendors in the market are investing quickly in locating local raw materials to lower their manufacturing costs and, therefore, lower product prices. Since the outbreak of the COVID-19 pandemic in 2020, the demand for synthetic liquid hand soap has increased due to its significant fast-acting properties and capacity to inactivate or destroy microorganisms. This trend is expected to continue, which will contribute to the growth of the synthetic segment in the market during the forecast period.
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Furthermore, our report provides a brief analysis of the historical and forecast market share and their segments along with the reasons for growth from 2017 to 2027. The growth of this segment is primarily attributed to the increasing adoption of liquid hand soap, which is driven by an increase in the global demand for the liquid hand soap industry.
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APAC is projected to account for 61% of the global market share growth by 2027. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
In 2022, APAC holds a major share of the market. Consumers have been taking various preventive measures to protect themselves from diseases like COVID-19, which, in turn, is aiding in increasing the use of liquid hand soap as it reduces the spread of germs. Therefore, using liquid hand soap as a preventive measure will drive the growth of the regional market during the forecast period. New, innovative products are being launched to meet the rising demand from consumers. Vendors are also focusing on plant-based and environment-friendly products, owing to the increasing demand among consumers. New product launches and the increasing use of hand soaps as a preventive measure will drive the growth of the market in APAC during the forecast period.
The outbreak of COVID-19 in APAC in 2020 resulted in thousands of deaths in China and other nations, prompting governments of several countries to impose lockdowns in the region. This had a significant impact on offline retail sales as offline stores were temporarily shut down. The COVID-19 outbreak, on the other hand, had a favourable impact on the regional market as the demand for hygiene products increased. Online shopping has been on the rise, as many people prefer the convenience of shopping and getting things from the comfort of their own homes. Such factors are expected to contribute to the growth of the market in APAC during the forecast period. Furthermore, in 2021, due to the availability of COVID-19 vaccines and the vaccination drives carried out by the governments of APAC countries, activities in offline retail channels gradually resumed. Since the COVID-19 outbreak in early 2020, the demand for liquid hand soap has increased as people have been more concerned about health and hygiene. Therefore, the demand for liquid hand soap products has increased in offline channels, which will drive regional market growth during the forecast period.
Our report forecasts revenue growth at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027. The market has been segmented by type, distribution channel, and region.
Liquid Hand Soap Market Scope |
|
Report Coverage |
Details |
Page number |
168 |
Base year |
2022 |
Historical year |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 7.98% |
Market growth 2023-2027 |
USD 1987.9 million |
Market structure |
Fragmented |
YoY growth (%) |
7.1 |
Regional analysis |
APAC, North America, Europe, South America, and the Middle East and Africa |
Performing market contribution |
APAC at 61% |
Key consumer countries |
US, China, India, Germany, and UK |
Competitive landscape |
Leading companies, Competitive Strategies, Consumer engagement scope |
Key companies profiled |
Amway Corp., Cleenol Group Ltd., Colgate Palmolive Co., GOJO Industries Inc., Henkel AG & Co. KGaA, Himalaya Global Holdings Ltd., ITC Ltd., Longrich Bioscience Co. Ltd., Kao Corp., Lion Corp., Pental Ltd., Premier English Manufacturing Ltd., Reckitt Benckiser Group PLC, The Avon Co., Unilever PLC, Vi Jon Inc., Godrej Consumer Products Ltd., Medline Industries LP, 3M Co., and Shri Sahib Enterprises LLP |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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