Global Bath Soap Market Report - Share, Opportunities Strategies and Growth Drivers 2017-2022
The global bath soap market has witnessed a healthy growth over the past few years. Some of the major driving factors include growing population, aggressive marketing strategies and premiumisation of products.
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IMARC Group’s latest report, titled “Bath Soap Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2017-2022”, finds that the global bath soap market reached a value of more than US$ 17 Billion in 2016, growing at a CAGR of around 5% during 2009-2016. Presently considered as staple commodity, bath soaps came into use around thousands of years ago. Their primary purpose is to cleanse and maintain the hygiene of the body. As a result, they form an integral part of the personnel care products. Today, as the majority of the bath soaps are designed to target specific needs of the consumers, they are now available in various fragrances and sizes, and for different skin types.
Highlights of the Global Bath Soap Market:
- Growing population coupled with premiumisation of products are the primary growth inducing factors.
- Asia-Pacific holds the majority of the global share, representing the largest market.
There are several factors that are currently stimulating the growth of the global bath soap market. Two of the major factors that have been proactive in maintaining the growth are increasing population and premiumisation of products. In addition, with changing lifestyles and rising pollution, it has become essential for people to stay hygienic and keep their skin healthy. Subsequently, with increasing income levels, consumers are now opting for organic products with different fragrances and moisturising capabilities. Growing demand from emerging markets, value addition along with aggressive marketing by manufacturers are some of the other factors that are contributing to the market growth. According to the report, the market is further expected to reach a value of more than US$ 20 Billion by 2022.
The market has been segmented on the basis of region. Asia-Pacific is the biggest market for bath soaps, accounting for more than a third of the total global share. The other major markets include Western Europe, North America and Others. Some of the key players operating in the market are Procter & Gamble, Unilever, Colgate Palmolive and Others.
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The report has examined the global bath soap market on the basis of:
Region:
- Asia-Pacific
- Western Europe
- North America
- Others
Major Manufacturers:
- Procter & Gamble
- Unilever
- Colgate Palmolive
- Others
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