According to the latest report by IMARC Group, titled “Bath Soap Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024”, the market size reached US$ 19.5 Billion in 2018. Traditional bar soaps have been replaced by bath soaps, which are formulated with moisturizers and cleansing agents. Allantoin, sodium laureth sulfate, propylene glycol, triethanolamine and glycerin are some of the additives used in manufacturing modern bath soaps. These additives help to unclog pores, remove debris and dirt, and condition the skin to flake less and appear healthier. Bath soaps form an integral part of the personal care routine as their primary purpose is to soften, cleanse and maintain the hygiene and odor of the body. The majority of bath soaps are available in attractive packaging and infused with a variety of fragrances to target the specific needs of both men and women.
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Global Bath Soap Market Trends:
The growing concern for personal grooming and rising hygiene-consciousness among consumers has encouraged them to opt for skin-friendly bath soaps, thereby driving the market growth across the globe. Apart from this, manufacturers are introducing products with exotic fragrances and vibrant colors to expand their consumer-base and diversify their market operations. They are also launching eco-friendly bath soaps containing natural or organic ingredients which are safe for both humans and the environment. Besides this, with the growing environment concerns, the leading soap companies are offering products in biodegradable and refill packaging. Furthermore, the adoption of aggressive marketing schemes such as celebrity endorsements by manufacturers, along with value addition, are some of the other factors contributing to the market growth. Looking forward, the market value is projected to reach US$ 25.9 Billion by 2024, expanding at a CAGR of 4.8% during 2019-2024.
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Region-wise, Asia Pacific currently represents the leading market, holding the majority of the global market shares. This can be attributed to the rapidly expanding population, rising disposable incomes and growing hygiene awareness among consumers. It is followed by Western Europe and North America. Other major regions include Latin America, and Middle East and Africa.
The competitive landscape of the global bath soap market has been analyzed. The industry is characterized by the presence of well-diversified international and regional vendors. There is intense competition in the market due to frequent changes in consumer preferences. Some of the leading players operating in the market are:
- Procter and Gamble
- Colgate Palmolive
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