Global Liquid Hand Soap Market Is Expected to Reach USD 5.73 billion by 2027 : Fior Markets

Newark, NJ, Feb. 03, 2021 (GLOBE NEWSWIRE) — As per the report published by Fior Markets, the global liquid hand soap market is expected to grow from USD 2.6 billion in 2019 and to reach USD 5.73 billion by 2027, growing at a CAGR of 10.4% during the forecast period 2020-2027.

The global liquid hand soap market has witnessed significant growth in recent years. This growth is attributed to increasing consciousness regarding hygiene and health, increasing consumer spending on personal hygiene, and the growing preference for liquid hand soap over bar soap. Other factors, like increasing the use of cleaning products for the prevention of healthcare associated infections in clinics, hospitals, and diagnostic centers, will propel market growth. Technological advancements in the soap packaging units will drive market growth.

A liquid soap formulated to wash and clean hands to protect them from bacteria and infection-causing germs is known as liquid hand soap. It has many different features depending upon the content. The liquid hand soap contents include cocamide dea surfactant, an anionic surfactant, opaque agent, glycerine, coco betaine as amphoteric surfactant, fragrance, dye, and others. The various benefits offered by liquid hand soap are it reduces the exchange of germs between the users and is convenient to use. Unlike the bar soaps, it never gets mushy, contains a lower ph level than bar soap, and is suitable for sensitive skin.

The global liquid hand soap market is expected to witness significant growth, owing to the increasing coronavirus cases, adoption of safety trends in hospitals, rising investments in introducing liquid hand wash solutions, and increasing investment in online marketing. The factors hampering the market growth are the presence of toxic ingredients, excessive use of plastic for packaging, and high cost compared to bar soaps. The growing adoption of natural ingredients offering top-quality products and increasing development in biotechnological research will provide market growth opportunities.

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The key players operating in the global liquid hand soap market are GOJO Industries, Procter & Gamble, AVON, Palmolive, Johnson & Johnson, 3M, Unilever, Dettol, Henkel Corporation, Unilever, Medline Industries, and Kao Corporation. To gain a significant market share in the global liquid hand soap market, the key players are now focusing on adopting strategies such as product innovations, mergers & acquisitions, recent developments, joint venture, collaborations, and partnership.

For instance, in January 2018, Unilever innovated its current packaging solutions across nine brands. They have introduced reusable, durable, and refilling packaging solutions to improve brand image and boost sustainability measures.

Tube packaging segment dominated the market and held the largest share of 41.3% in the year 2019

On the basis of packaging, the global liquid hand soap market is segmented into bottles, pouches, and tube. Tube packaging segment dominated the market and held the largest share of 41.3% in the year 2019. This growth was attributed to the increasing demand for durable and reliable solutions. The tube packaging is an easy-to-use and cost-effective solution.

Commercial segment dominated the market and held the largest share of 57.12% in the year 2019

On the basis of application, the global liquid hand soap market is segmented into commercial and household. Commercial segment dominated the market and held the largest share of 57.12% in the year 2019. The commercial segment is further segmented into malls, hospitals, offices, restaurants, and others. The hospital segment holds the largest share from the commercial segment. This growth is attributed to the rapid introduction of the targeted solution to improve brand equity and increasing demand for cleaning solutions from hospitals.

Online Stores segment dominated the market and held the largest share of 32.68% in the year 2019

On the basis of distribution channel, the global liquid hand soap market is segmented into convenience stores, supermarkets/hypermarkets, pharmaceutical stores, online stores, and others. Online Stores segment dominated the market and held the largest share of 32.68% in the year 2019. This growth is attributed to the ease of product access via online channels. Online stores offer various benefits to users like better user interface, product differentiation, specification, and cash-back offers.

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Regional Segment of Liquid Hand Soap Market

North America (U.S., Canada, Mexico)
Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
Asia-Pacific (China, Japan, India, Rest of APAC)
South America (Brazil and Rest of South America)
Middle East and Africa (UAE, South Africa, Rest of MEA)

On the basis of geography, the global liquid hand soap market is classified into North America, Europe, Asia-Pacific, Middle East & Africa, and South America. North America held the major share of 36.7% in the year 2019. This growth was attributed to the increasing adoption of hygienic trends to reduce the infection breakout. Increasing coronavirus cases in Canada and the U.S. and growing awareness towards hygiene propels the market growth. The Europe region is anticipated to witness significant growth due to the private sector and the government’s rapid investment in reducing the risk of infections and adopting strict compliance. The Asia-Pacific region will project growth due to the changing consumer perceptions about hygiene and increasing demand for advanced soap solutions.

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About the report:

The global liquid hand soap market is analysed on the basis of value (USD billion). All the segments have been analysed on global, regional and country basis. The study includes the analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insights of the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, and competitors position grid analysis.

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