The North America Liquid Hand Soap Market- Growth drivers, Challenges & Impact of Covid-19
The North America Liquid Hand Soap market has been segmented based on Packaging Type (Pump dispensers, Bottles/Containers (Refill), Pouches (Refill)) , by Distribution Channel (Supermarkets/Hypermarkets, Convenience stores, Online Retail Stores, Other)
Introduction
The North America Liquid Hand Soap products market is a contributing segment of the global personal care market. From a top-down perspective, Strategy Here has analyzed the global personal care market as a parent market to set the context in which the North America Liquid Hand Soap market will be analyzed.
The demand for personal hygiene, especially hand hygiene products, is predicted to increase further in the future due to the growing awareness among consumers in the aftermath of the COVID-19 pandemic. People have become more conscious about cleanliness, hygiene, and keeping themselves.
There are many different types of hand soaps available today- from commercial powdered hand soap to scented guest soap. There are also liquid soaps made for different skin types.
Table of Contents
Market Overview
North America Liquid Hand Soap market is expected to grow to $2020.95 million by 2026
Growth momentum is expected to accelerate during the forecast period with a 3.52% CAGR.
The North American Liquid Hand Soap market is registering high market growth due to the awareness of health and hygiene globally.
North America is estimated to be the largest market in the forecast years.
Key Trends
The growing adoption of natural ingredients to offer top-quality products and surging development in biotechnological research will further provide substantial growth opportunities for the liquid hand soap market expansion.
In terms of application, the restaurant application segment is anticipated to witness substantial growth over the coming years.
Key Market Players
Colgate-Palmolive Company, Henkel AG & Co. KGaA, and SC Johnson & Son Inc., Dove and Kao Corporation are some of the leading players operating in the North America Liquid Hand Soap market.
The market for liquid hand soap is competitive in nature, as it consists of many public and private players. The companies offer a variety of products, which include different scented liquid hand soaps, animal-free tested products, paraben-free products, and an infusion of plant-based ingredients.
Growth Drivers and Challenges
The rise in the number of coronavirus positive cases have raised the adoption of safety trends in home, office, and other public places, which in turn, likely to boost the demand for liquid hand soap.
The rising disposable income of consumers has also led to an increased adoption of liquid hand soap since it is more expensive than bar soap.
Liquid hand soaps are preferred over the bar hand soap as consumers perceive it to be more effective and convenient to use, thus driving market growth.
The higher price of liquid soap as compared to bar soap is a hinderance to market growth. The average consumer prefers to pay less for a bar.
Bar soaps tend to last longer than liquid soaps which have to be refilled relatively frequently.