The entry of new start-ups offering vegan-based products and the high demand for extensive premium soaps are expected to drive the demand for the global vegan soaps market over the forecast period, 2023-2027.
According to TechSci Research report, “Vegan Soaps Market – Global Industry Size, Share, Trends, Opportunity, and Forecast, 2017-2027”, the global vegan soaps market is anticipated to grow at a formidable CAGR during the forecast period, 2023-2027. Vegan soaps are made up of natural and safe ingredients and are effective without making the use of chemicals such as parabens, sodium laureth sulphate (SLES), and SLS (sodium lauryl sulphate) that can harm the health of an individual. Vegan soaps are gaining popularity as they are cruelty-free and are made up of natural ingredients like fat and oils that come from vegetables and plants instead of those made up of animal derivatives. The rise in consciousness about environmental conservation and growing water pollution by harmful chemicals in soaps is driving the adoption of vegan soaps among consumers. Different countries’ governments have started to ban the use of harmful chemicals such as triclosan, phthalates, triclocarban, and parabens in cosmetics and personal care products to encourage consumers to use vegan soaps.
However, the high cost of vegan soaps and the presence of several alternatives may hinder the global vegan soaps market demand over the forecast period.
Browse over XX market data Figures spread through 110 Pages and an in-depth TOC on “VEGAN SOAPS MARKET“
The global vegan soaps market is segmented into type, price range, distribution channel, regional distribution, and competitive landscape.
Based on the type, the market is divided into bar and liquid. Bar soaps dominate the market and are expected to maintain their dominance over the next five years, 2023-2027. Their easy availability in the offline stores and low price attracts consumers to invest in vegan bar soaps. Market players are launching and are working on introducing vegan soaps in different varieties, colors, shapes, sizes, fragrances, and attractive packaging to attract more customers to buy vegan soaps of their particular brand.
Based on the price range, the market is divided into low, medium, and high. High-priced vegan soaps are expected to capture substantial market share in the upcoming years due to the quality offered at extravagant prices. They have a unique smell and feel, which makes the consumers buy high-priced vegan soaps. Market players are hiring celebrities and influencers to advertise their products and tell them about the effectiveness of their vegan soaps.
Based on the distribution channel, the market is bifurcated into offline and online. The offline segment is expected to account for a significant market share over the forecast period, 2023-2027. Consumers prefer to buy personal care products, including organic soaps, from supermarkets and hypermarkets by comparing the prices and quality with different brands. Some of the retail outlets allow them physical verification before making any purchase. The presence of vegan soaps belonging to different brands increases the consumer’s flexibility to choose from a wide variety of options. The growing population and the improved living standards in developing countries like India, Bangladesh, and Pakistan are making the market players establish new offline outlets in these countries.
Major players operating in global vegan soaps market are:
- All One God Faith, Inc. (DR. BRONNER’S)
- Kirk’s Natural LLC
- Tom’s of Maine, Inc.
- KMF IP HOLDINGS LLC (Kiss My Face)
- Aegean Soap
- Beaumont Products, Inc. (Clearly Natural)
- One With Nature
- Dr. Woods Products
- The Caldrea Company. (Mrs. Meyer’s Clean Day)
- Maui Soap Co.
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“The European region is expected to be a promising market for the global vegan soaps market over the forecast period, 2023-2027. High awareness about the brand and the type of ingredients used in vegan soap drives the consumer demand. Consumers are highly aware of their personal hygiene habits, which has made the market players find new innovative solutions and technologies to increase the effectiveness and affordability of vegan soaps. Market players are adopting aggressive marketing strategies and adopting alternate sales channels to capture the highest market share. The rise in the number of market players offering a wide variety of vegan soaps and support from the government to avoid the use of harmful chemicals is expected to propel the global vegan soaps market growth through 2027” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
“Vegan Soaps Market – Global Industry Size, Share, Trends, Opportunity, and Forecast, 2017-2027 Segmented By Type (Bar, Liquid), By Price Range (Low, Medium, High), By Distribution Channel (Offline, Online), and By Region”, has evaluated the future growth potential of global vegan soaps 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 global vegan soaps market.
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