The sudden outbreak of COVID-19 pandemic has drastically increased the growth of the liquid hand soap market owing to the huge demand.
According to the latest Arizton's market research report, the liquid hand wash soap market size to reach approximately USD 23 billion by 2026, growing at a CAGR of around 10% during the forecast period.
Global Liquid Hand Wash Soap Market Growth Analysis
The emergence of natural toiletry products is considered to fulfil the need of healthy, environmentally friendly, and ethical beliefs and also promoting the whole health & hygiene industry to develop in a sustainable way. The rise in the spread of infectious diseases is boosting the growth of the liquid hand soap market across the globe. Using soap bars in public washrooms and offices is considered as unhygienic. Using soap dispensers becomes an ideal solution in order to prevent the transfer of virus thereby, propelling the demand in the liquid hand soap market. The sudden outbreak of COVID-19 pandemic has drastically increased the growth of the liquid hand soap market owing to the huge demand. As the liquid hand soap market presents a lucrative revenue growth potential, many players are expected to enter the market during in the upcoming years.
Interesting Facts to Know:
- Unilever aims to deliver long-term superior value by reshaping its product portfolio and by being fast in terms of response to the market.
- Kimberly-Clark has focused on consistent innovation for developing customized products and has maintained this strategy to remain connected with the customer’s needs.
- Procter and Gamble is among the market leaders when it comes to brand equity/building aspect.
- Market Size & Forecast by Revenue | 2020−2026
- Market Dynamics – Leading trends, growth drivers, restraints, and investment opportunities
- Segmentation – A detailed analysis by feature, packaging, end-user, distribution channel, and geography
- Competitive Landscape – 7 Key Company Profiles and 25 Other Prominent Vendors
Leading Region in the Global Liquid Hand Soap Market
North America lives in urban areas and holds good education, awareness for proper hand hygiene is also high in the region. Colgate-Palmolive has reported a continued increasing sales for the second quarter of 2020, driven largely by a strong performance in North America due to increased demand for liquid hand soaps. North America is expected to reach over 335 million gallons by 2026. The demand for liquid hand soap market in the region is driven by the massive size of the end-user markets such as commercial buildings, residential sectors, and growing number of nuclear families. In order to prevent the HAIs, liquid hand soap market to witness huge demand from the hospital sector in North America.
Top Vendors in the Global Liquid Hand Soap Market
The top players in the liquid hand soap market includes 3M, GOJO Industries, P&G, Reckitt Benckiser, Unilever, Lion Corporation, and more and the competition among these players are intense. In the current situation, players are forced to alter and refine the value proposition to achieve strong market presence. Companies with better technology and financial resources can develop innovative products in the global liquid hand soap market. Players are also focusing of updating them, in terms of technology to gain competitive advantages in the global market. Many international companies are planning to expand their market presence worldwide in the upcoming years. The leading vendors are immensely rising awareness of the benefits of hand hygiene and sanitization to prevent various pandemic in the global market.
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