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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.
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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.
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