2020 - 2030 Soap Industry Forecasts By Types - Laundry Detergent, Soap, Dishwashing Detergent, Toothpaste, Others By TBRC
LONDON, Feb. 11, 2020 /PRNewswire/ -- TheBusinessResearchCompany.com offers Soap And Other Detergents Global Market Report 2020 from its research database. The complete report is spread across 150 pages and covers research on different countries across the globe.
The Soap (And Other Detergents) Market Will Grow At 7.5% CAGR
Soap and detergents are chemical compounds that are surface active agents. These products are made from animal fats or vegetable oil and are used to clean a solid surface. Surface-active agents are categorized in four groups: anionic detergents, cationic detergents, nonionic detergents and ampholytic. The global soap and other detergents market was worth $100.04 billion in 2019. It is expected to grow at a compound annual growth rate (CAGR) of 7.5% and reach $133.85 billion by 2023. The introduction of innovative new products is a key factor leading to the growth of the soap and other detergent industry. Manufacturers continue to focus on innovative product development to meet the unmet needs of their customers. Companies are launching anti-allergy soaps and natural ingredients containing detergents that are widely adopted. For instance, in 2019, Unilever, a British-Dutch consumer goods company, launched a new liquid detergent product under the brand Hindustan Unilever (HUL), Love Home and Planet, which is HUL`s fifth fabric wash brand. New product development, thereby, is driving the demand for the soap and other detergents market globally.
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Increasing Use Of Water-Efficient Laundry Products
With increasing water scarcity worldwide, soap and other detergent manufacturers are working continuously on creating opportunities for water-efficient laundry products. These water-efficient laundry products require less water for rinsing as these concentrated detergents contain chemicals with less water-dependent laundry ingredients. Furthermore, these products also cut down packaging and transportation cost for the manufacturers. In 2015, Unilever launched the Sustainable Washing Challenge, aimed at improving cleaning products and reducing the water consumed for washing clothes.
Uncertain Regulatory Environment Of The Soap Market
Soap and other detergent providers globally faced uncertain regulatory environment in the historic period. There are certain regulations aimed at reducing the release of toxic chemical substances into the atmosphere during the manufacturing process of soaps and detergents. Manufacturers of soap and detergent must comply with the US code of federal regulations (40 CFR), regarding the safety of the environment (part 417).
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Soap And Other Detergents Market Global Overview And Segmentations
The soap and other detergents market is a segment of the soap and cleaning compounds market. Soap and cleaning compounds manufacturers produce and package soaps and other cleaning compounds, surface active agents, and textile and leather finishing agents, used to reduce tension or speed the drying process.
The soap and other detergents market is segmented by type into laundry detergent, soap, dishwashing detergent, toothpaste, and others. It is also segmented by end use into body, clothing, and others.
The soap and other detergents market is geographically segmented into North America, Western Europe, Asia-Pacific, Eastern Europe, South America and Middle East & Africa. In 2019, Asia Pacific accounted for around 33% of the market.
Major players in the market are Procter & Gamble, Ecolab Inc, Unilever plc, Henkel AG & Co KGaA, Church & Dwight Co. Inc, Colgate-Palmolive Company, Dial, Reckitt Benckiser Group plc, The Clorox Company, and Lion Corp.
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