Global Liquid Hand Soap Market SWOT Analysis, CAGR and Forecast 2021 – 2027

With an immense demand generated by the ongoing COVID-19 pandemic, the global liquid hand soaps market is slated to witness in a tremendous amount of revenue gains over the coming years. The pandemic, and the government-sponsored hygiene and health-safety announcements that have followed, have emphasized the importance of cleanliness to a vast majority of the global population.

This has consequently elevated the demand for hygiene products such as soaps and hand sanitizers, with liquid soaps accounting for a respectable share of this demand. Soap is considered one of the best solutions to get rid of the COVID-19 virus. As a result, and given the already-ample availability of the product across supermarket shelves, soaps have become the most important commodities of the 2020s.

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Overall, the liquid soap market landscape is classified into segment such as packaging, distribution channel, application, nature, and region.

With respect to packaging, the industry is categorized into pouch, bottle, and tube. Among these, the tube packaging segment is forecast to experience sizable gains. The portable nature of the tube design has allowed the packaging to become ubiquitous in a relatively short amount of time, especially during the pandemic. As a result, the tube packaging segment is anticipated to reach an industry valuation of more than $817.4 million by the end of 2027.

Based on distribution channel, the industry landscape is divided into convenience stores, supermarkets/hypermarkets, online stores, pharmaceutical stores, and others. Over the course of the pandemic, the convenience stores segment has been the go to location for procuring hygiene products. With global lockdowns restricting the supply chains, convenience stores have become more reliable sources for procuring everyday products. The convenience stores distribution channel is expected to reach a valuation of $766.0 million by 2027. To attain this, the segment would be growing at a CAGR of more than 10.1% throughout the forecast period.

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From a regional frame of reference, the Europe liquid hand soaps industry is projected to grow at a notable CAGR of more than 9.9% through the analysis timeframe. With ambitious and effective vaccination drives, several countries across Europe, like the UK, have been alleviating lockdown restrictions. However, fearing the resurgence of another wave, governments have still been vigilant and have not cut back on awareness campaigns. Now, with human footfall once again returning to public and commercial places, the demand for liquid soap is expected to hold strong.

The Latin America liquid soap industry is projected to reach a valuation of nearly $315.7 million by the end of 2027. Latin America is home to some of the worst COVID-19 affected countries. Consequently, consumer demand for affordable hygiene products like soaps has been exponentially high since the early months of 2020.

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