Hand Soap Market is Expected to Witness Rapid Growth of Around 6.7% During Forecast Period 2021-2031

The market study done by Fact.MR gives exclusive information about how the market will grow. The study identifies crucial trends that are determining the growth of Hand Soap market. This newly published report sheds light on vital dynamics, such as the drivers, restraints, and opportunities for key market players as well as emerging players associated with the production and supply. The latest report by Fact.MR provides detailed Market Analysis of Hand Soap

The report offers actionable and valuable market insights of Hand Soap. The latest report by Fact.MR provides details on the present scenario of the market across various regions along with the historic data and forecast of the market. The report also includes information on the sales and demand of Hand Soap Market across various industries and regions.

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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.

This newly published and insightful report sheds light on Market Insights of Hand Soap, key dynamics, their impact on the overall value chain from suppliers to end-users and Growth of Hand Soap Market.

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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

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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 is gradually topping consumers’ wish list owing to targeted branding. This is despite lower budget constraints, thus increasing the rate of returning consumers” says a Fact.MR analyst.

Strong Foothold of Hand Soap Titans has put New Entrants at Bay

Hand Soap market stakeholders have generated greater profit margins in the historical period of 2015-2019. According to a Fact.MR consumer survey, consumers have set their expectations and choices limited to only select companies. This has become a barrier for new entrants in the market. Market stakeholders such as Johnson & Johnson, Reckitt Benckiser, Unilever, Henkel, ITC, Procter & Gamble, Amway etc., have a strong foothold across various regions in the hand soap market.

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Key Question answered in the survey of Hand Soap market report:

  • Sales and Demand of Hand Soap
  • Growth of Hand Soap Market
  • Market Analysis of Hand Soap
  • Market Insights of Hand Soap
  • Key Drivers Impacting the Hand Soap market
  • Which are the Key drivers impacted by Hand Soap market
  • Restraints Shaping Market Growth
  • Market Survey of Hand Soap

More Valuable Insights on Hand Soap Market

Fact.MR, in its new report, offers an unbiased Market Analysis of Hand Soap, Sales and Demand of Hand Soap, analyzing forecast statistics through 2019 and beyond. The study reveals growth projections on the basis of various criteria.

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