The Solid Soap market size is expected to reach USD 29.79 Billion in 2028 and register a revenue CAGR of 5.8% over the forecast period, according to the latest report by Reports and Data. Rising demand for chemical-free and natural products is a key factor driving market revenue growth. Consumers are widely exposed to a wide range of information, including hygiene and healthy lifestyles, through various media and online channels. As a result of rising awareness regarding various benefits associated with health and hygiene, consumers are becoming more conscious about cleanliness in their day-to-day life.
Consumers are looking for compatible or portable hygiene products that can be used anytime and anywhere. Solid Soaps are one of the most appropriate products that cater to needs and wants of consumers. Solid Soaps help to reduce number of germs and bacteria effectively. In addition, they also protect against certain types of contaminants such as harmful chemicals and infections. Today, majority of people globally are using Solid Soap instead of bar soap as it helps to retain more than 30% of skin moisture. Solid Soaps are ideal for dry and sensitive skin due to low pH levels. They are also available in a variety of fragrances such as lemon, lavender, orange, mint, peach, jasmine, and lotus, thereby, driving demand among consumers.
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Rapid digitalization of supply chain and manufacturing process to drive market growth
Consumer goods and fast-moving consumer goods (FMCG) markets are constantly adapting to changing consumer demand and trends. In recent years, the consumer goods business has been influenced by digital innovation, the coronavirus pandemic, and a greater focus on sustainable and healthy behaviors, to name a few. Digitalization has put the customer in control, allowing them to compare and scrutinize things in real time. In this competitive industry, consumer products companies must maximize their marketing techniques and brand recognition to sustain client loyalty.
The pandemic changed how people purchase and wreaked havoc on the market; cleaning supplies, shelf-stable food and beverages, and toilet paper became scarce in some areas within days. Furthermore, the function of sustainability is becoming increasingly important in the consumer goods sector; there is a growing desire for more ecologically and ethically manufactured products across the board.
Growing demand for co-friendly cosmetics to further bolster market growth
Food, toiletries, cosmetics, and beverages are the four categories that make up the consumer products industry. Most companies in this industry make products that fall into one of the four categories; however, some companies may have bands that span the categories' lines. In the consumer goods industry, success is determined by how well a single product is marketed, typically through boosting the brand name.
In the consumer products industry, companies compete for shelf space, therefore they strive for smart package design, marketing, and customer satisfaction. Addressing changing client wants, navigating a consolidating industry, and implementing profitable growth plans are just a few of the issues faced in the consumer products sector.
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Key Questions Answered by the Report:
- What are the key applications of the Solid Soap market? Which application segment is expected to drive market revenue growth over the forecast period?
- Which product type is expected to register significant revenue growth going ahead?
- Which region is expected to account for largest revenue share over the forecast period 2021-2028?
- Which key companies operating in the global market?
- What are the key strategic initiatives undertaken by the companies to gain a robust footing in the market?
- What are the key outcomes of SWOT analysis and Porter’s Five Forces analysis?
Major Companies:
- Reckitt Benckiser Group PLC.,
- Procter Gamble,
- Unilever,
- 3M,
- Lion Corporation,
- GOJO Industries, Inc.,
- Kao Corporation,
- Godrej Consumer Products,
- Blue Moon Body Care,
- New Avon LLC.
Market Segmentation:
By Type Outlook
- Natural or Organic
- Conventional
By Product Type Outlook
- Face Wash
- Hand Wash
- Body Wash
- Surface Cleaner
- Others
By Distribution Channel Type Outlook
- Supermarkets or Hypermarkets
- Specialty Stores
- Drug Stores
- Convenience Stores
- Online Sales Channel
By Application Outlook
- Commercial
- Household
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