Hand Soap Market is Expected to Witness Rapid Growth of Around 6.7% By 2031

With Europe and North America leading the hand soap market, the market is currently pegged at more than US$ 23 Bn. Projected growth rate is anticipated to be 7.2% over the forecast period (2020 to 2030). Hand soaps have soared on popularity and have continued to penetrate industrial, medical & clinical and other niche applications. The success of hand soap market lies in targeted marketing and branding of their products through various media channels.

Demand for hand soap is set to soar with the ongoing COVID-19 pandemic and panic buying as precautionary measures are being implemented worldwide. Accelerated demand has significantly increased the supply demand gap. In this quarter, i.e., 1st quarter of 2020, hand soap market has become inelastic, which portrays a clear picture of independence of price with growth in demand due to release of WHO directives of hand hygiene owing to the COVID-19 pandemic.

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Key Takeaways of Global Hand Soap Market

  • Global hand soap market is anticipated to create a value opportunity of around US$ 25 Bn during the forecast period, adding 2X more value as compared to 2020
  • Consumer preference for retail stores over E-commerce sales channel, for the purchase of hand soaps is set to drive retail store sales at a Y-o-Y of 7.2% over the forecast period
  • Household applications are set to grow at a rate of 7.4% in the forecast period through 2030 and are set to gain ~160 BPS over the assessment period
  • Europe holds the leading share in the hand soap market and accounts for 7,000 million litres of hand soap demand
  • MEA and South Asia & Oceania market are growing at a moderate pace, owing to lesser product awareness and low household spending
  • Global Hand Soap market is consolidated in nature with only 15-25 manufacturers of liquid hand soap across regions

Hand Soap market Segmentation

Fact.MR has studied the hand soap market with detailed segmentation on the basis of pack size, application, sales channel, and key regions.

  • By Pack Size :

    • 100 ml to 200 ml
    • 200 ml to 500 ml
    • 500 ml to 1L
    • 1L to 5L
  • By Application :

    • Industrial
    • Medical & Clinical
    • Household
    • Others
  • By Sales Channel :

    • Retail Stores
    • Hyper Markets
    • Big-box retailers
    • Pharmacies
    • Mom & pop stores
    • E-Commerce
  • By Region :

    • North America
    • Latin America
    • Europe
    • East Asia
    • South Asia & Oceania
    • Middle East & Africa

Hand Soap Manufacturers to Gain Opportunity Owing to the Shattered Supply Chain across the Regions

Global hand soap market is consolidated in nature as there are only select players in the market claiming majority of the market share. Few manufacturers such as Shiseido have entered the competition.

However they have failed against popular consumer choices such as Reckitt Benckiser’s “Dettol“and Unilever’s “Lifebuoy”. Tier -1 players such as Reckitt Benckiser, Unilever, Johnson & Johnson and Henkel are set to capture 30 – 35% of the market share for hand soap.

 

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