The new report by Expert Market Research titled, ‘Global Bath Soap Market Report and Forecast 2023-2028’, gives an in-depth analysis of the global bath soap market size, assessing the market based on its segments like product type, form, distribution channel, and major regions.
The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
The key highlights of the report include:
Market Overview (2018-2028)
- Historical Market Size (2022): USD 22.8 Billion
- Forecast CAGR (2023-2028): 4.7%
- Forecast Market Size (2028): USD 30 Billion
The bath soap market is being driven by growing population, increase in disposable income, changing lifestyle, rising focus on hygiene, and higher standards of living. There has been a rise in demand for soaps with varied fragrance and attractive designs. The industry is also being propelled by the rising penetration of e-commerce platform in purchase of soaps.
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Key players are providing wide variety of options to the customers because of the increasing focus on hygiene and environment issues. Prevalence of infectious diseases like COVID-19 and diarrhoea, among others, can be significantly used for maintaining hygiene, which is leading to the growth in bath soap market.
Bath Soap Industry Definition and Major Segments
Bath soap is a cleansing agent made from the salts of vegetable or animal fats used as face soap and toilet soap. Bath soap is typically made up of moisturisers and cleansing agents that work together to soften skin and clean it.
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On the basis of product type, market is segmented into:
- Premium Products
- Mass Products
The bath soap market, can be categorised, on the basis of form into:
- Solid Bath Soaps
- Liquid Bath Soaps
The market can be broadly segmented on the basis of distribution channel into:
- Supermarkets and Hypermarket
- Convenience Stores
- Pharmacies
- Speciality Stores
- Online
- Others
The regional markets for bath soap include:
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Bath Soap Market Trends
The growth of the industry is primarily driven by the rising demand for personal care and hygiene among the consumers. Key market players such as Procter and Gamble Company, Unilever PLC, and Colgate-Palmolive Company, are the three largest players in the market. Procter and Gamble is the leading player among the three, globally.
Increasing investment in the bath soap by the key players is leading the market. There are new innovations in bath soap manufacturing like different fragrances and designs, among others, which are aiding the growth of the industry. The rising R&D activities in bath soap industry is expected to drive the market growth further.
Key Market Players
The major players in the market are The Procter & Gamble Company, Unilever, and Colgate-Palmolive Company, among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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