Rising disposable income is driving the growth if India Liquid Soap Market, FY2017-FY2027.
According to TechSci report on, “India Liquid Soap Market By Product Type (Handwash, Facewash, Body Wash, Surface Cleaner, Others) By Packaging Type (Pouch, Bottle, Tube) By Nature (Organic, Synthetic) By Application (Household, Commercial {Hospitals, Malls, Offices, Restaurants, Others}) By Distribution Channel (Supermarket/Hypermarket, Convenience Stores, Pharmaceutical Stores, Online Stores, Others) By Region, Competition Forecast & Opportunities, FY2027”, India liquid soap market has shown promising growth in historical years until FY2020 and is expected to continue its growth in upcoming forecast years FY2023 to FY2027. India liquid soap market owes its growth to the factors like multiple brand endorsements by the entertainment idols and artists. Moreover, the rise in technological advancement in liquid soap, growth in the population being more aware about the need of maintaining the hygiene and safety against widespread diseases is accelerating the growth of the India liquid soap market, in the upcoming five years. Government initiatives and private advertisements along with other endorsements can be termed as the major factors that drive the India liquid soap market toward a consistent growth. Market players are creating merges and acquisitions for the development and distribution of liquid soap. Also, advantages of the liquid soap with the advancements like pH balanced, organic ingredients, smoother and moisturizing skins, along with other qualities is driving the consumer inclination toward the liquid soaps thereby supporting the growth of the India liquid soap market, until FY2027.
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The India liquid soap market is segmented by product type, packaging type, nature, application, distribution channel, competitional landscape, and regional distribution. Based on packaging type, the market is further fragmented into pouch, bottle, and tube packaging. Bottle packaging are anticipated to hold the largest revenue shares of the market and assert its dominance over the market on the grounds of consumer preference. With the increasing demand for the liquid soap for the convenience of the consumer along with the market flooding with designer soap dispensers is driving the growth of the market segment in the future five years. Pouch packages are expected to register the fastest CAGR growth in the next five years on the account of recent trends that instigated the unaware consumers to opt for pouch packets of liquid soap for handwash, facewash, etc. in terms of maintaining hygiene and safety measure against the COVID-19 virus. The country continues to suffer the consequences and with the third wave indications nearing, the market for liquid soap in India is bound to show a robust growth in the upcoming five years.
Based on nature, the market is bifurcated further into organic and synthetic natures of the liquid soap. One of major drawback of the soap is the pH level of the soap and the measure of how harsh they are for the skin. Organic liquid soaps in the market claims to be using herbal ingredients and instead of lathering suds, the organic soap contains milder and softer ingredient that is not harsh on the skin. Most of the bathing liquid soaps and dishwashing soaps are claiming to be organic products and thereby are anticipated to register the fastest growing CAGR in the upcoming five years. Some of medicinal handwashes and laundry liquid soaps are synthetic liquid soaps that claims to be doing the deep cleansing and often claims to be pH balanced.
Based on product type, the market is further bifurcated into handwash, facewash, body wash, surface cleaner, and others. Differentiated on the basis of their purposes, handwash is anticipated to hold the largest market segment in the upcoming five years on the account of surge in the demand of organic, healthier, and easily usable handwashes among the country’s population. Moreover, due to onset of COVID-19 pandemic, the consumer grew more conscious and the consistent urge to regularly wash hands before touching mouth or face while you touch other surfaces surged the growth. The demand of maintaining the hygiene was much needed and much demanded thereby supporting the growth of the market in the next five years.
Some of the top players in the India liquid soap market are, Hindustan Unilever Limited, Godrej Soaps Private Limited, Cossmic Products Pvt Ltd, Reckitt Benckiser India Limited, Wipro Enterprises Pvt Ltd, ITC Limited, Henkel Anand India Private Limited, Johnson & Johnson Private Limited, Procter & Gamble Hygiene & Health Care, The Himalaya Drug Company, among others. The companies are involving themselves into research and development for more advanced products. Liquid soaps are in demand in all sorts of cleaning, washing, and bathing application, with the increasing demand for the product the market is bound to show exponential jump in the CAGR growth in the next five years. New players entering the market may form partnerships with other players or the end users of the industry for a consistent inflow of the product.
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“The sudden outbreak of COVID-19 virus has rendered the Indian economy with a turmoil. Though the government is consistently trying to overcome the setbacks in the economic stature of the country still the effect the pandemic is having on the market is drastic. Hygiene and safety are a concern and thereby the recent market is flooded with the new market players providing cleaning agents and various innovative approach to instigate consumer to readily approach the products. The widespread distribution channel and expanding scopes is also aiding to the growth of the market in the next five years. Online retails of the products have suddenly showed an exponential jump in the CAGR owing to the lockdown and rapid shift of sellers choosing online platforms to sell their products. With the smart delivery systems, the market is anticipated to sustain the growth in upcoming five years,” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
“India Liquid Soap Market By Product Type (Handwash, Facewash, Body Wash, Surface Cleaner, Others) By Packaging Type (Pouch, Bottle, Tube) By Nature (Organic, Synthetic) By Application (Household, Commercial {Hospitals, Malls, Offices, Restaurants, Others}) By Distribution Channel (Supermarket/Hypermarket, Convenience Stores, Pharmaceutical Stores, Online Stores, Others) By Region, Competition Forecast & Opportunities, FY2027” has evaluated the future growth potential of India liquid soap market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in India liquid soap market.
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