Bath Soaps Industry Worth $24.8 Bn by 2024, with significant growth rate of 5.1%: Market Research Future

Global bath soaps market is projected to grow at a significant rate of 5.1% from 2019 to 2024 to reach a market value of USD 24.8 billion by the end of 2024. The consumer demand for different types of bath soaps and other bath products are offering lucrative business opportunities to market players, thereby encouraging innovative product launches. There are different types of bath soaps available for consumers. The demand for bath soaps rely on the preference of consumers which are based on product features, properties, appearance, and purpose. Market players offering a variety of bath soaps with different ingredients, flavors, textures, aroma, and attractive packaging which provide a good appeal to the products assist in boosting the growth of the global bath soaps market.

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Key Players

Some of the key players in the global bath soaps market are Procter and Gamble (US), Unilever (UK), Colgate-Palmolive Company (US), Forest Essentials (India), L'Oreal S.A. (France), Khadi Natural (India), L'Occitane International SA (Switzerland), Henkel AG & Co KGaA (Germany), Neal's Yard (Natural Remedies) Limited (UK), Laverana GmbH & Co. KG (Germany), Truly's Natural Products (US), Chagrin Valley Soap & Salve Co. (US), The Honest Company Inc. (US), Botanie Natural Soap Inc. (US), A Wild Bar Soap LLC (US).

Latest Industry Updates

January 2019: Procter and Gamble launched a brand called DS3, a line of liquid-free cleaning products. The line of products includes laundry wash, toilet clener, surface cleaner, hand wash, shampoo, conditioner, cleanser, and body wash. DS3 was made with a breakthrough technology that eliminates water from the final product. DS3 comes in two scents such as blue wave smell of apple, cedar, bluebell, white rose, and bamboo and blue mist smell of pineapple, citrus, mint, pepper, and sandalwood.

Segmentation:

The global bath soaps market has been segmented on the basis of category, form, type, and distribution channel.

Based on category, the global bath soaps market has been segmented into organic and conventional.

Based on form, the global bath soaps market has been classified as solid and liquid.

On the basis of type, the global bath soaps market has been bifurcated into medicated and non-medicated bath soaps.

On the basis of distribution channel, the global bath soaps market has been divided into store-based and non-store-based. The store-based segment, being further segmented into supermarkets and hypermarkets, specialty stores, and others, is expected to dominate the global market by generating the highest revenue owing to strong vendor networks and high product appeal. The non-store-based segment is expected to register the higher CAGR during the assessment period owing to technological advancements in the e-commerce industry and growing consumer preference for online purchase.

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Regional Analysis

The global bath soaps market has been segmented, by region, into North America, Europe, Asia-Pacific, and the rest of the world.

The Asia-Pacific bath soaps market is expected to dominate the global bath soaps market during the forecast period. Rise in consciousness of skin care among consumers in the region are expected to assist in the growth of the bath soaps market during the forecast period. Advertising media and e-commerce platform are helping to create awareness among consumers about the importance of bath soap, which is further propelling the growth of bath soap market in the region.

The bath soaps market in North America is projected to grow at the fastest rate from 2019 to 2024. Presence of major bath soaps producers and high spending power of consumers for personal care products in the region are propelling the growth of bath soaps market. Product innovation by market players focusing on organic and natural ingredients and a large number of retail stores as compared to other parts of the world are further boosting the regional market growth.

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This release was published on openPR.