Market Summary
The Global Soap noodles market is forecast to reach USD 1,250.1 Million by 2028, according to a new report by Reports and Data. Soap noodles can be described as the fatty acids that can be derived from either animal fats or vegetable oil, which is used as the major ingredient in the soap bar production.
It is usually produced with the help of saponification of neutral oil and fat, saponification of methyl esters, and neutralization of fatty acid. There are two main types of these fatty acids, one which is made out of vegetable oil base or palm base and the other, which are made from tallow or animal fats. A typical blend of these fatty acids usually comprise of 80% mix of palm stearin and palm oil and palm oil. These fatty acids are translucent, and solid, and have varied colors ranging from yellowish, white, and brownish.
Currently, Indonesia and Malaysia are the largest sources of soap noodles based on palm oils, which turns out to be effective in catering to various requirements of soap industries. The increasing awareness about the importance of hygiene and continuous expansion of various end-user industries like the healthcare sector and hospitality industry are some of the mentionable factors supporting the growth of the market. The continuous growing demand for handcrafted soaps is another mentionable factor, supporting the growth of the market.
Though various supporting market factors are propelling the growth of the market, adverse market factors like the growing popularity of liquid soaps and gels may slow down the growth of the market.
Asia Pacific can be seen to dominate the market. The market dominance of the region is attributed to the rising awareness about hygiene, increasing population, and escalating use of cleaning and personal hygiene products, which are supporting the growth of the market in this region.
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Further key findings from the report suggest
- The Soap noodles market held a market share of USD 1 Million in the year 2020 and is forecasted to grow at a rate of 3.1% during the forecast period.
- In context to Source, the Vegetable Oil segment generated a higher revenue of USD 588.9 Million in 2020, with a CAGR 4.0% during the forecast period. Benefits associated with the use of this source in manufacturing of high quality white or cleaner soaps, with consistent composition, results in its elevated preference among the end-users, which contribute to revenue generated by this segment.
- In context to Process, the Saponification production process segment is projected to witness a faster growth rate of 3.5% during the forecast period, which generated a revenue of USD 544.7 Million in 2020. The growth rate witnessed by the Saponification production process segment is attributed to its inexpensive nature and operational ease, which is resulting in its elevated use in developing region, which in turn, is resulting in the growing popularity among the manufacturers.
- In context to Application, the Personal hygiene soap segment held the largest market share of 41.0% in 2020, with a CAGR of 3.3% during the forecast period. The market share occupied by this segment is the result of rising awareness about hygiene and associated elevated use of soaps for personal hygiene that results in the elevated demand for the fatty acids in this segment.
- While discussing Application, it is mentioned here that, special purpose soap segment is projected to witness a significant growth rate of 6.2% during the forecast period, and is forecasted to hold 10.5% of the market share by 2028. The growth rate witnessed by the special purpose soap segment is due to the growing popularity of aromatherapy soaps and herbal soaps.
- Europe held 0% of the market in 2020, with a growth rate of 3.3% during the forecast period. Factors like continuous growth in the healthcare sector, and expanding textile industry contributes to the market share occupied by this region.
- Key participants include KLK Oleo, IOI Oleochemicals, Jocil Limited, Wilmar International, Olivia Impex Private Limited, Evyap-Oleo, John Drury & Co Ltd, and M Bedforth & Sons, Raj Industries, Timur oleochemicals Malaysia and Godrej.
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For the purpose of this report, Reports and Data have segmented the global Soap noodles market according to Source, Process, End-user, Application, and Region:
Source Type Outlook (Volume, Kilo Tons; Revenue, USD Million; 2018-2028)
- Vegetable Oil
- Tallow
Process Outlook (Volume, Kilo Tons; Revenue, USD Million; 2018-2028)
- Saponification production process
- Fatty acid route
End-User Outlook (Volume, Kilo Tons; Revenue, USD Million; 2018-2028)
- Household use
- Industrial use
- Other
Application Outlook (Volume, Kilo Tons; Revenue, USD Million; 2018-2028)
- Personal hygiene soap
- Multi-purpose soap
- Laundry soap
- Special purpose soap
- Others
Regional Outlook (Volume, Kilo Tons; Revenue, USD Million; 2018-2028)
- North America
- U.S
- Europe
- UK
- France
- Asia Pacific
- China
- India
- Japan
- MEA
- Latin America
- Brazil
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