Top 4 trends poised stimulateglobal soap noodles market expansion

Top 4 trends poised to stimulate the global soap noodles market expansion

4:42 AM, 21st January 2021
Soap Noodles Market
Soap noodles are widely used to produce toilet preparations and personal care products across the globe. The rise in demand for cosmetic and personal care soaps from emerging economies is likely to create a positive impetus on the global soap noodles industry expansion.

Soap noodles are widely used to produce toilet preparations and personal care products across the globe. The rise in demand for cosmetic and personal care soaps from emerging economies is likely to create a positive impetus on the global soap noodles industry expansion.

As per Global Market Insights Inc, the global soap noodles market revenue is projected to surpass $1.14 billion by 2025. Enumerated below are a few pivotal trends this business space is defined by:

Less complexity of saponification to increase its preference

Soap noodles can be prepared by using either the saponification route or by the fatty acid process. Of these, saponification is comparatively less complex and cheaper and hence is highly preferred worldwide. Additionally, the saponification process is broadly used for producing premium quality soap noodles which are further used in numerous toilet soap preparations. Attributed to benefits like these, the saponification segment captured over 50 percent of the market share in 2018 and is anticipated to expand at more than 3 percent CAGR through 2025.

The growing demand for beauty and personal hygiene products

The increasing population pool focusing on personal hygiene is likely to play a key role in fueling the global soap noodles industry growth in the coming years. Personal hygiene soaps majorly include high-grade soap bars that are produced using soap noodles. These soaps comprise of palm oil, palm kernel oil and nearly 70 percent composition of fatty matter, which further attracts the consumers. To encapsulate, with the growing demand for beauty and personal hygiene products coupled with efficient sales promotion techniques, the personal hygiene soap segment held a major market share in 2018.

For instance, Evyap Sabun Malaysia Sdn Bhd, a subsidiary of turkey-based personal care product manufacturer Evyap Group, is observing vertically integrated operations to provide flexibility to differentiate its product mix to meet changing demands. The company observed this shift with growing bar soap production owing to the utilization increasing to 64.8 percent in H1 2020 from 62.5 percent in 2019 due to the rising emphasis on personal hygiene.

Cheap availability of palm derivatives to drive the Asia Pacific market growth

On the regional front, the global soap noodles market is expected to gain traction in the Asia Pacific, North America and Europe. Speaking of Asia Pacific, the region is poised to witness an expansion of nearly 3 percent CAGR during the forecast timeframe. The augmentation is driven by the presence of chief palm oil manufacturing companies along with the cheap availability of palm derivatives.

Furthermore, the heightening retail development especially in China and India will also drive the soaps demand. For instance, as per the Indian Brand Equity Foundation (IBEF), the Indian Fast-moving Consumer Goods (FMCG) market revenue is expected to grow from $52.7 billion in 2017-18 to $103.7 billion by 2020 while growing at 27.8 percent CAGR.

North America and Europe are also crucial revenue pockets for the soap noodles market growth propelled by the developed personal care industry and the presence of large-scale soap manufacturers.

Rising demand for liquid soaps in North America and Europe

Though North America and Europe play a key role in the expansion of the soap noodles industry growth, the shifting customers' preference towards liquid gels and soap in the regions might restrain the market extension. Moreover, leading soap producers are decreasing the research and development activities in the bar soap range and focusing on lucrative liquid soap segments.

All in all, it would not be incorrect to state that the global soap noodles market outlook is slated for a major transformation in the years ahead.

Soap Noodles market size by source (vegetable oil, tallow), by process (saponification, fatty acid route), by application (personal hygiene soap, laundry soap, multi-purpose soap), industry analysis report, regional outlook, growth potential, price trends, competitive market share & forecast, 2019 to 2025 at the given link: https://www.gminsights.com/request-sample/detail/3366

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Contact Info:

Arun Hegde
Corporate Sales, USA
Global Market Insights Inc.
Phone: 1-302-846-7766
Toll Free: 1-888-689-0688
Email: sales@gminsights.com
Website: https://www.gminsights.com

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