Impact Analysis of Covid-19
The complete version of the Report will include the impact of the COVID-19, and anticipated change on the future outlook of the industry, by taking into the account the political, economic, social, and technological parameters.
Global liquid hand soap market anticipated to propelling due to the increasing cases of pandemic diseases and stringent government regulations and standards for the use of hand soap
The global liquid hand soap market projected to grow over a CAGR of 12.5% during the forecast period, 2020-2027. The primary factors are rapidly increasing consumer awareness regarding health and hygiene across the world. Additionally, the rise in the adoption of compatible or portable hygienic products such as liquid soaps for which they can use anytime anywhere and cater to consumers' needs and requirements will augment the global liquid hand soap market across the globe. Further, the consumers' high standards of hygiene have driven the growth of hand-washing products and disinfecting wet wipes in the field of the public facility. Also, the surge in liquid hand shop for suppressing the spread of infectious diseases is most significant in hospitals, nursing centers, and nursing homes is also fueling the demand for liquid hand soap.
Moreover, the growing people concerned about the widespread transmission of diseases such as the flu and taking various preventive measures to protect themselves will fuel propelling the growth of the liquid hand soap market across the world. Also, the increasing disposable income and growing concerns among people regarding harmful chemicals such as parabens and sulphates in synthetic soaps will spur the growth of the market. Furthermore, the awareness by government and world health organization's regarding the importance of hand hygiene is projected to foster the growth of the market in the future periods. Also, the augmented health awareness among people, the increase in online retail channels for personal care products and the surge in income levels are factors that will affect the growth of the liquid hand soap market in the near future. The most effective key factor supporting people's lives in a healthy environment is personal hygiene. Thus, it is necessary to maintain hygiene in the environment.
Product Overview in the Global Liquid hand soap market
Based on the product, the global liquid hand soap market classified into organic and conventional. The organic segment likely to lead the market by 2027. It is owing to the increase in awareness about chemical-free products, growth in consumer base who prefers organic products, the surge in disposable income of consumers, and high penetration of products through major specialty retail sectors and online platforms.
Application Overview in the Global Liquid hand soap market
Based on the application, the global liquid hand soap market bifurcated into the household and commercial. The household segment witnessed the largest market share in 2019 and will dominate by 2027. It is owing to rapid urbanization in emerging economies, an increase in awareness about such exposure to various harmful bacteria and viruses, and consumers have been taking preventive measures by being much more hygienic and consumers' inclination towards hygienic lifestyle.
Distribution Channel Overview in the Global Liquid hand soap market
Based on the distribution channel, the global liquid hand soap market segregated into supermarkets & hypermarkets, convenience stores, online, and others. The online segment projected to lead the market by 2027. It is due to the surge in internet infrastructure in developing nations, the growth of the e-commerce industry across the world, and the vast demand for hygiene products worldwide.
Regional Overview in the Global Liquid hand soap market
By geography, the Global Liquid hand soap market segmented into North America, Europe, Asia Pacific, South America, and Middle East & Africa. The Asia Pacific held a higher market share in 2019 and will continue its dominance by 2027. It is attributable to the implementation of hand hygiene campaigns in these regions by government agencies, shifting of consumer towards the liquid soaps, and the growing awareness related to hand hygiene among consumers.
Global Liquid hand soap market: Competitive Landscape
Companies such as Colgate-Palmolive Co., GlaxoSmithKline Plc, Godrej Consumer Products Ltd., GOJO Industries Inc., ITC Ltd., Medline Industries Inc., New Avon Co., Premier English Manufacturing Ltd., Reckitt Benckiser Group Plc, Unilever Group, Procter & Gamble, 3M, Lion Corporation, and Kao Chemicals are the key players in the Global Liquid Hand Soap Market.