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Pharmacy benefit management market
Bath Soaps Market Report Overview
The global bath soaps market size was USD 17680 million in 2021 & the market is expected to reach USD 24253.32 million in 2031, exhibiting a CAGR of 2.9% during the forecast period.
The global COVID-19 pandemic has been unprecedented and staggering, with the Bath Soaps market experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden spike in CAGR is attributable to the market's growth and demand returning to pre-pandemic levels once the pandemic is over.
Bath soaps are used to keep personal hygiene standards high and to clean the skin. To keep the body free of chemicals or filth, these products are used during showers or baths. The main ingredients of the soaps are variously scented cleansing or emulsifying agents, like alkali or potassium salts. Several businesses have launched their range of bath soaps in fragrant scents and styles to fulfil the expectations of consumers.
COVID-19 Impact: Increasing Demand During the Pandemic to Drive Market Growth
Due to the increase in demand for necessities during a lockdown, such as liquid bath soap, the COVID-19 pandemic has had an influence on the bath soap market's ability to produce enough of them to meet demand. Liquid bath soaps were in higher demand due to the panic buying that occurred during the initial phases of lockdown. In contrast to the global supply chain, which has been touched by export and import limitations, the domestic bath soaps market's supply chain has been affected by transportation limits and the least mobile scenario. As a result of customer preference for effective hygiene, the post-COVID-19 scenario is predicted to represent a significant potential for the bath soap industry.
Latest Trends
"Rising Levels of Personal Hygiene and Cleanliness are Primarily What are Propelling the Market Growth "
To prevent the occurrence and spread of diseases brought on by unclean activities, maintaining cleanliness is crucial. Infectious bacteria can be prevented from spreading by washing hands, utensils, and clothing. For instance, according to the World Health Organization article titled "Forgetting to Wash Your Hands May Cost Lives," there are yearly diseases that lead to the death of millions of women owing to improper hand washing and lack of sanitation. Antibacterial soaps are also being developed by companies like Dial, Safeguard, and Dettol to address the problem of communicable illnesses like the flu and upset stomachs brought on by germs and viruses. Hence, it is anticipated that greater hygiene awareness will aid market expansion.
Bath Soaps Market Segmentation
- By Type Analysis
According to type, the bath soaps market can be segmented into medicated bath soap and non-medicated bath soap.
In terms of type, the medicated bath soap is anticipated to be the largest segment during the forecast period.
- By Application Analysis
Based on application, the bath soaps market can be divided into retail stores, specialty stores, online stores and other.
In terms of application, the retail stores market is projected to hold the largest market share through 2031.
Driving Factors
"An Increase in Usage and Demand in the Organic Soap is Fueling Market Expansion"
The bath soap industry can be divided into conventional and organic products based on categories. The increased demand for organic hygiene products would cause the organic category to grow at a during the forecast period. Aloe vera, plant extracts, glycerine, and natural essential oils are just a few of the natural and biological ingredients included in organic soaps. Organic bath soaps don't harm the skin and don't include any harsh preservatives, in contrast to chemical bath soaps. The increased popularity of organic soaps can be due to people becoming more aware of the advantages of natural and organic products.
"The Availability of Liquid Bath Soap in a Wide Variety will Boost Market Expansion "
Shower gels and body washes, which have a similar purpose of washing skin but a distinct texture, are the major considerations for liquid bath soaps. Body washes have a creamier recipe, a thinner consistency, and a more moisturizing and hydrating impact on the skin than shower gels, which have a solid, gel-like consistency and texture. The recipe of liquid bath soap includes ingredients including glycerin, petrolatum, shea butter, aloe vera, mineral oil, soybean oil, jojoba oil, almond oil, and olive oil, all of which offer significant skin advantages. Important manufacturers tend to release products for various skin types, such as special infant liquid bath soap formulas.
Restraining Factors
"An Increase in the Availability of Substitute Products is Impeding Market Expansion"
Traditional skin rubs are being displaced in the personal hygiene market by shower gels and body wash products, which is hurting the conventional product industry. Detergents are also being used more frequently in the household cleaning industry since they are better at eliminating stains from clothing and grime from dishes. Also, it is anticipated that rising body wash usage may restrain market expansion. As a result, it is anticipated that the presence of substitute items on the market will impede market expansion.
Bath Soaps Market Regional Insights
"The North America Region will Dominate Market Due to Hygiene Purpose "
While the first half of the projection period saw the highest number of coronavirus-infected patients, the use of washing and bathing surfactant products for hygiene purposes is anticipated to grow in North America. For instance, the American population polled is utilizing cleansing and lubricating solutions for bathing to avoid contracting COVID-19 infection, according to the survey results published by the American Cleaning Institute. Also, customers in North America tend to utilize high-end items and are particularly captivated by expensive herbal and organic products, which helps the market expand in the region.
Key Industry Players
"Adoption Experiential Marketing Services by Key Players Influencing Market Development"
The top key players in the market are Procter & Gamble, Unilever, Colgate Palmolive, Johnson & Johnson, Chicco, LUX. Most of the top players hold bath soaps market share in some regions. In addition, the strategies to develop new technologies, capital investment in R&D, improve product quality, acquisitions, mergers, and compete for the bath soaps market growth in the competition help them to perpetuate their position and value in the market. Besides, collaboration with other companies & extensive possession of market shares by the key players stimulates the bath soaps market.
LIST OF TOP BATH SOAPS COMPANIES
- Procter & Gamble (U.S.)
- Unilever (UK.)
- Colgate Palmolive (U.S.)
- Johnson & Johnson (U.S.)
- Chicco (Italy)
- LUX (India)
- DOVE (India)
- Sebapharma (Germany)
- Pigeon (India)
- Himalaya (India)
- PZ Cussons (UK.)
- Weleda (Switzerland)
- Mustela (France)
- Walch (U.S.)
- Safeguard (UK.)
- Dettol (Germany)
Report Coverage
This report examines an understanding of the bath soaps market’s size, share, growth rate, segmentation by type, application, key players, and previous and current market scenarios. The report also collects the market’s precise data and forecasts by market experts. Also, it describes the study of this industry’s financial performance, investments, growth, innovation marks, and new product launches by the top companies and offers deep insights into the current market structure, competitive analysis based on key players, key driving forces, and restraints that affect the demand for growth, opportunities, and risks.
Furthermore, the post-COVID-19 pandemic’s effects on international market restrictions and a deep understanding of how the industry will recover, and strategies are also stated in the report. The competitive landscape has also been examined in detail to provide clarification of the competitive landscape.
This report also discloses the research based on methodologies that define price trend analysis of target companies, collection of data, statistics, target competitors, import-export, information, and previous years’ records based on market sales. Moreover, all the significant factors which influence the market such as small or medium business industry, macro-economic indicators, value chain analysis, and demand-side dynamics, with all the major business players have been explained in detail. This analysis is subject to modification if the key players and feasible analysis of market dynamics change.
REPORT COVERAGE | DETAILS |
---|---|
Market Size Value In |
US$ 17680 Million in 2021 |
Market Size Value By |
US$ 24253.32 Million by 2031 |
Growth Rate |
CAGR of 2.9% from 2021 to 2031 |
Forecast Period |
2023-2031 |
Base Year |
2023 |
Historical Data Available |
Yes |
Regional Scope |
Global |
Segments Covered | |
By Type
|
|
By Application
|
Frequently Asked Questions
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What value is the global bath soaps market expected to touch by 2031?
The global bath soaps market is expected to touch USD 24253.32 million in 2031.
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What CAGR is the bath soaps market expected to exhibit during 2021-2031?
The bath soaps market is expected to exhibit a CAGR of 2.9 % over 2021-2031.
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Which are the driving factors of the bath soaps market?
An Increase in usage and demand in the organic soaps are the driving factor of the bath soaps market.
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Which are the top companies operating in the bath soaps market?
Procter & Gamble, Unilever, Colgate Palmolive, Johnson & Johnson, Chicco, LUX. are the top operating companies in the bath soaps market.