The Alkali Soap Market Is Estimated To Witness High Growth Owing To...

The Alkali Soap Market Is Estimated To Witness High Growth Owing To Increasing Demand for Cleaning Products

Сообщение 2023-11-16 13:20:50

1Кб

Market Overview:

Alkali soaps are cleaning products made by mixing vegetable oil or animal fat with lye or caustic soda. They are available in bar and liquid forms. Alkali soaps are commonly used for cleaning hands, clothes, dishes, and general surface cleaning. They provide effective cleansing and are gentle on skin. Major end uses include households, hotels, hospitals, food processing units, and personal care industries.

Market Dynamics:

Growing demand for cleaning and hygiene products from households as well as several industries such as food processing, healthcare, and hospitality is expected to augment the alkali soap market growth over the forecast period. According to a research study, the global household cleaners market was valued at over US$ 50.8 billion in 2021 and projected to reach over US$ 75 billion by 2030, exhibiting a CAGR of 4.6%. Moreover, increasing focus on sanitation and hygiene amid COVID-19 pandemic has further fueled the demand for cleaning products including alkali soaps in recent years. On the other hand, availability of alternative products providing similar functions and preferences shifting towards natural formulations are some of the factors expected to restrain the market growth.

The global Alkali Soap Market Demand is estimated to be valued at US$ 19.22 Bn in 2023 and is expected to exhibit a CAGR of 6.8% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

SWOT Analysis:

Strength: Alkali soap has natural cleaning and disinfecting properties owing to presence of alkalis. It removes dirt and impurities effectively in three easy washes. Manufacturing of alkali soap is simple and requires basic equipment. It has longer shelf life of over 6 months compared to other soap variants.

Weakness: Exposure to alkali soap for prolonged duration can cause skin irritation and dryness. Frequent usage leads to removal of natural oils from skin. Packaging and distribution of alkali soap raises environmental concerns due to plastic and paper waste.

Opportunity: Growing demand for natural and chemical-free cleansing products offers opportunities for alkali soap manufacturers to invest in green and sustainable packaging solutions. Rise in health and hygiene awareness post-COVID pandemic has boosted sales of antibacterial soaps including alkali soap.

Threats: Stiff competition from herbal soap and liquid hand wash manufacturers limits the market share of alkali soap. Unorganised smaller players offering cheaper alternative soaps pose pricing challenges.

Key Takeaways:

The global alkali soap market is expected to witness high growth, exhibiting CAGR of 6.8% over the forecast period, due to increasing health and hygiene awareness among consumers. Wide applications of alkali soaps in cleaning kitchens, bathrooms and clothes has further augmented the market growth.

Regional analysis: North America dominates the global alkali soap market owing to rising demand for natural ingredients based soaps and high disposable income. Asia Pacific exhibits the fastest growth on back of expanding e-commerce channels, growing laundromats, and surging middle class population in countries like India and China.

Key players operating in the alkali soap market are Unilever, Procter & Gamble, Reckitt Benckiser, Henkel AG & Co. KGaA, Church & Dwight Co. Inc., Wipro Enterprises Limited, Colgate-Palmolive Company, C.Johnson & Son Inc., Godrej Consumer Products, Kao Corporation, L'Oreal S.A., The Clorox Company, Seventh Generation, Inc., Natura &Co, Weleda Group, Patanjali Ayurved Limited, Hain Celestial, EO Products, Indus Valley, Prairie Rose. Key players are investing in R&D to introduce soap variants with natural ingredients and innovative fragrances to appeal wider customer base.