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India Soap Market to Grow at a CAGR of 7% During 2021-2026, Aided by the Escalating Consciousness Regarding Health and Hygiene Among Consumers

According to a new report by EMR titled, ‘India Soap Market Report and Forecast 2021-2026’, the market attained a value of around INR 195 billion in 2020. It is further expected to witness a healthy growth in the forecast period, growing at a CAGR of 7% between 2021 and 2026.

The India soap industry is being driven by the increasing consciousness pertaining to health and hygiene among consumers. In addition, the increased preference for organic and chemical-free soaps is predicted to aid the market growth. Consumers are increasingly investing in paraben-free soaps that help to improve skin health and keep it clean. Moreover, the increased demand for laundry soaps owing to their affordability is also predicted to aid the market growth in the coming years.

Consumers are purchasing popular antibacterial soaps such as Dettol to protect themselves from unwanted bacteria. This can be attributed to the increased incidences of chronic illnesses such as cholera, typhoid, and hepatitis A, among others, as a direct consequence of poor hygiene. Moreover, with the global outbreak of the novel coronavirus, there is a rise in demand for disinfectants and cleaning products. The rampant spread of the Covid-19 virus in 2020 and the risk of virus insurgence in the country have compelled manufacturers to increase their investments in disinfectant and hygiene products portfolio such as in the range of hand washes and antibacterial soaps to meet the rising consumer demand for the same. Furthermore, the growing consumer preference for online platforms is also expected to augment the market growth. For instance, a range of disinfectant soaps is available on e-commerce platforms such as Amazon (NASDAQ: AMZN). These developments are expected to positively impact the growth of the India soap industry in the forecast period.

Market Breakup by Type, Form, Product, Distribution Channel, and Region:

  • The market is divided based on type into organic and conventional.
  • Based on form, the market can be distributed into liquid, solid, and others.
  • On the basis of product, the industry is segregated into bath soap, kitchen soap, medicated soap, laundry soap, and others.
  • The industry is segmented, on the basis of distribution channel, into supermarkets and hypermarkets, convenience stores, pharmacies, online, and others. 
  • Region-wise, the soap market in India can be divided into North India, South India, West India, and East India.

Key Findings of the Report:

  • The soap market in India is being driven by the increased health consciousness among consumers and the growing middle-class population.
  • The rising demand for disinfectant and antibacterial soaps has significantly contributed to the market expansion.
  • The growing demand for organic soaps is also aiding the industry growth. 
  • The rising penetration of the e-commerce industry in India is expected to further propel the market growth.

Key Offerings of the Report:

  • The EMR report gives an overview of the soap market in India for the periods (2016-2020) and (2021-2026).
  • The report also offers historical (2016-2020) and forecast (2021-2026) market information for the types, forms, products, distribution channels, and regions of soap in India.
  • The market report also analyses the trade data by covering the major importing and exporting countries.
  • The report analyses the market dynamics, covering the key demand and price indicators in the market, along with providing an assessment of the SWOT and Porter’s Five Forces models.

The major players in the India soap market are Godrej Consumer Products Limited, Hindustan Unilever Limited, ITC Limited, The Himalaya Drug Company, Wipro Enterprises (P) Ltd, and others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

About Us:

Expert Market Research (EMR) is a leading market research and business intelligence company, ensuring its clients remain at the vanguard of their industries by providing them with exhaustive and actionable market data through its syndicated and custom market reports, covering over 15 major industry domains. The company's expansive and ever-growing database of reports, which are constantly updated, includes reports from industry verticals like chemicals and materials, food and beverages, energy and mining, technology and media, consumer goods, pharmaceuticals, agriculture, and packaging.

EMR leverages its state-of-the-art technological and analytical tools, along with the expertise of its highly skilled team of over 100 analysts and more than 3000 consultants, to help its clients, ranging from Fortune 1000 companies to small and medium sized enterprises, easily grasp the expansive industry data and help them in formulating market and business strategies, which ensure that they remain ahead of the curve.

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*We at Expert Market Research always thrive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.

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