Dublin, April 25, 2024 (GLOBE NEWSWIRE) -- The "Soaps and Detergents - Global Strategic Business Report" report has been added to ResearchAndMarkets.com's offering.
Global Soaps and Detergents Market to Reach $263.9 Billion by 2030
The global market for Soaps and Detergents estimated at US$160.4 Billion in the year 2022, is projected to reach a revised size of US$263.9 Billion by 2030, growing at a CAGR of 6.4% over the analysis period 2022-2030.
The report underscores the enduring significance of soaps and detergents in daily hygiene practices, citing their indispensable role in maintaining cleanliness and health.
Household Detergents, one of the segments analyzed in the report, is projected to record a 6.6% CAGR and reach US$128.3 Billion by the end of the analysis period. Growth in the Industrial Soaps & Detergents segment is estimated at 5.5% CAGR for the next 8-year period.
It highlights the influence of population trends on shaping market dynamics, emphasizing the correlation between population numbers and demand for these products. The competitive landscape is analyzed, noting the presence of 97 players globally in 2023, each contributing to the market in various capacities.
Recent market activity and innovations are explored, providing insights into emerging trends and developments driving the industry forward. The report delves into market trends and drivers, such as the surge in hand hygiene practices catalyzed by the pandemic, leading to increased demand for hand wash liquids. Additionally, robust demand for commercial laundry services is identified as a key driver, fueling the need for soaps and detergents in commercial settings. The rise in commercial laundries further amplifies this demand, indicating a growing market for these products in various sectors.
The U.S. Market is Estimated at $46.2 Billion, While China is Forecast to Grow at 9.7% CAGR
The Soaps and Detergents market in the U.S. is estimated at US$46.2 Billion in the year 2022. China, the world's second largest economy, is forecast to reach a projected market size of US$49.4 Billion by the year 2030 trailing a CAGR of 9.7% over the analysis period 2022 to 2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 4.3% and 6.1% respectively over the 2022-2030 period. Within Europe, Germany is forecast to grow at approximately 4.8% CAGR. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$36.3 Billion by the year 2030.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 398 |
| Forecast Period | 2022 - 2030 |
| Estimated Market Value (USD) in 2022 | $160.4 Billion |
| Forecasted Market Value (USD) by 2030 | $263.9 Billion |
| Compound Annual Growth Rate | 6.4% |
| Regions Covered | Global |
MARKET OVERVIEW
- Evergreen Importance of Soaps & Detergents in Daily Hygiene Provides the Foundation for Growth in the Market
- From Population Numbers to Suds, the Population's Role in Shaping the Soaps & Detergents Market Cannot be Overlooked
- Competitive Market Presence - Strong/Active/Niche/Trivial for 97 Players Worldwide in 2023 (E)
- Recent Market Activity
- Innovations
MARKET TRENDS & DRIVERS
- From Pandemic Practice to Lifelong Habit, the Rise of Hand Hygiene Drives Demand for Hand Wash Liquids
- Robust Demand for Commercial Laundry Services Drives Demand for Soaps & Detergents
- Rise in Commercial Laundries Triggers a Soapy Surge in Demand for Soaps and Detergents
- Spurred On by Rising Healthcare Burden, Hospitals Emerge into the Fastest Growing End-Use Market for Soaps & Detergents
- Rising Healthcare Needs, a Catalyst for Soaps & Detergents Market Growth
- Clean Homes Are Happy Homes. Here's Why & How it Impacts Demand for Household Soaps & Detergents
- Focus on Productivity, Safety & Enhancement of Resource Efficiency Drives Industrial Adoption of Soaps and Detergents
- Robust Outlook for the Hospitality Industry Bodes Well for the Soaps & Detergents Market
- A Strong Hospitality Industry Expands the Addressable Market Opportunity for Soaps & Detergents
- Rising Sales of Washing Machines to Benefit Demand for Liquid Detergents
- Growing Ownership of Home Electric Appliances Spurs Demand for Premium & Branded Soaps & Detergents
- Focus on Sustainability Brings Eco-Friendly Soaps & Detergents Into the Spotlight
- As Global Pollution Continues to Rise, Sustainable Green Soaps & Detergents Will Become More Indispensable & Omnipresent:
- Enzymes Detergents Steal the Spotlight
- Continuous Innovations Remain Crucial to Growth
FOCUS ON SELECT PLAYERS(Total 97 Featured)
- Amway
- Betco Corporation
- Church & Dwight Co. Inc.
- Colgate-Palmolive Company
- Den-Mat Holdings
- Dial
- Ecolab Inc.
- Ecover
- FROSCH
- Henkel AG & Co KGaA
- James Austin Company
- Johnson & Johnson
- Kutol Products Company
- Lion Corp.
- Nafine Chemical Industry Group Co. Ltd.
- Nice Group
- Oralabs
- Piedmont Chemical Industries
- Procter & Gamble
- Reckitt Benckiser Group plc
- Rose Raining
- Sheffield Pharmaceuticals
- State Industrial Products Corporation
- The Clorox Company
- The Original Bradford Soap Works
- The Sun Products Corporation
- Unilever plc
- US Chemical
- Zep Inc.
For more information about this report visit https://www.researchandmarkets.com/r/z39dbx
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