Jul 10, 2020 8:14 PM ET
iCrowd Newswire – Jul 10, 2020
There are different types of bath soaps available for consumers. The demand for bath soaps relies on the preference of consumers which are based on product features, properties, appearance, and purpose. Market players offering a variety of bath soaps with different ingredients, flavors, textures, aroma, and attractive packaging which provide a good appeal to the products assist in boosting the growth of the global bath soaps market. Global COVID-19 Impact on Bath Soaps Market is projected to grow at a significant rate of 5.1% from 2020 to 2024 to reach a market value of USD 24.8 billion by the end of 2024. The consumer demand for different types of bath soaps and other bath products are offering lucrative business opportunities to market players, thereby encouraging innovative product launches.
Some of the key players in the Global Bath Soaps Market are Procter and Gamble (US), Unilever (UK), Colgate-Palmolive Company (US), Forest Essentials (India), L’Oreal S.A. (France), Khadi Natural (India), L’Occitane International SA (Switzerland), Henkel AG & Co KGaA (Germany), Neal’s Yard (Natural Remedies) Limited (UK), Laverana GmbH & Co. KG (Germany), Truly’s Natural Products (US), Chagrin Valley Soap & Salve Co. (US), The Honest Company Inc. (US), Botanie Natural Soap Inc. (US), A Wild Bar Soap LLC (US).
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Global COVID-19 Impact on Bath Soaps Market has been segmented on the basis of category, form, type, and distribution channel.
Based on category, the global bath soaps market has been segmented into organic and conventional. The conventional segment is expected to dominate the global bath soaps market during the forecast period. The low price of conventional bath soaps as compared to organic bath products is leading to the market growth of the segment. Additionally, conventional bath soaps are widely used by consumers around the globe and the products are easily available in stores. This assists in boosting the growth of conventional bath soaps segment. However, the organic segment is expected to register the higher CAGR during the forecast period. The popularity of organic bath soaps is increasing since natural ingredients are used in such soaps and it is free of chemicals. Increasing cases of skin diseases and other health-related issues are resulting in growing concern toward the maintenance of health and skin care, which is driving the growth of the organic soaps segment. Increasing per capita disposable incomes is allowing the consumers of developing countries toward purchasing of organic bathing products, which is then boosting the growth of organic soap segment.
Based on form, Global COVID-19 Impact on Bath Soaps Market has been classified as solid and liquid. The solid soaps segment is expected to dominate the global bath soaps market since solid soaps are more economical and lasts longer as compared to liquid soaps. Bar soaps or solid soaps can be formulated, designed, and packaged in a multitude of options to meet each need of the brands. The liquid soaps segment is expected to register the higher CAGR during the assessment period. Nowadays, consumers look to their bath soaps products not only for cleansing purposes but also to deodorize, moisturize, and exfoliate their skin. The key driver for the growth of liquid soap market is the properties such as skin enhancing and moisturizing abilities.
Based on Type, the Global COVID-19 Impact on Bath Soaps Market has been bifurcated into medicated and non-medicated bath soaps. The non-medicated bath soaps segment is expected to dominate the global bath soaps market due to the easy availability, vast varieties of products, and low cost as compared to medicated soaps. Wide range of bath soaps varieties are delivered by producers under the category of non-medicated bath soaps by adding various flavors, colors, aroma, and texture, which is appealing to the consumers. The medicated bath soaps segment is expected to register the higher CAGR during the assessment period owing to its properties such as chemical free, sulfate free, and paraben free. Consumers with sensitive skin and suffering from skin diseases prefer to use medicated bath soaps as they are harmless, which is further boosting the market growth of the segment.
Based on distribution channel, the Global COVID-19 Impact on Bath Soaps Market has been divided into store-based and non-store-based. The store-based segment, being further segmented into supermarkets and hypermarkets, specialty stores, and others, is expected to dominate the global market by generating the highest revenue owing to strong vendor networks and high product appeal. The non-store-based segment is expected to register the higher CAGR during the assessment period owing to technological advancements in the e-commerce industry and growing consumer preference for online purchase.
Latest Industry Updates
January 2019: Procter and Gamble launched a brand called DS3, a line of liquid-free cleaning products. The line of products includes laundry wash, toilet clener, surface cleaner, hand wash, shampoo, conditioner, cleanser, and body wash. DS3 was made with a breakthrough technology that eliminates water from the final product. DS3 comes in two scents such as blue wave smell of apple, cedar, bluebell, white rose, and bamboo and blue mist smell of pineapple, citrus, mint, pepper, and sandalwood.
Global COVID-19 Impact on Bath Soaps Market has been segmented, by region, into North America, Europe, Asia-Pacific, and the rest of the world.
The Asia-Pacific bath soaps market is expected to dominate the global bath soaps market during the forecast period. Rise in consciousness of skin care among consumers in the region are expected to assist in the growth of the bath soaps market during the forecast period. Advertising media and e-commerce platform are helping to create awareness among consumers about the importance of bath soap, which is further propelling the growth of bath soap market in the region.
The bath soaps market in North America is projected to grow at the fastest rate from 2019 to 2024. Presence of major bath soaps producers and high spending power of consumers for personal care products in the region are propelling the growth of bath soaps market. Product innovation by market players focusing on organic and natural ingredients and a large number of retail stores as compared to other parts of the world are further boosting the regional market growth.
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