The Soap And Cleaning Compounds Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2011-2022) and extends its insights into a ten-year forecast period (2024-2033).
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According to The Business Research Company’s Soap And Cleaning Compounds Global Market Report 2024, The soap and cleaning compounds market size has grown strongly in recent years. It will grow from $190.89 billion in 2023 to $207.75 billion in 2024 at a compound annual growth rate (CAGR) of 8.8%. The growth in the historic period can be attributed to hygiene awareness, population growth, urbanization, industrialization, environmental regulations.
The soap and cleaning compounds market size is expected to see strong growth in the next few years. It will grow to $290.33 billion in 2028 at a compound annual growth rate (CAGR) of 8.7%. The growth in the forecast period can be attributed to the increasing demand for eco-friendly and sustainable cleaning products, health and safety, e-commerce and digitalization, regulatory changes, globalization. Major trends in the forecast period include natural and organic products, antibacterial and disinfectant products, diy and homemade cleaning solutions, smart and connected cleaning devices, subscription and refill services.
The growth of the automotive industry is expected to propel the growth of the soaps and cleaning products market going forward. Automobiles, commonly known as cars or vehicles, are self-propelled wheeled vehicles designed for road transportation. Cleaning compounds and soaps have a crucial role within the automotive sector, serving diverse functions in vehicle care, manufacturing, and overall hygiene. For instance, in March 2022, according to the European Automobile Manufacturers’ Association (ACEA), the lobbying and standards group for the automobile industry, the sales of passenger cars in the US increased by 5.5% from 2020 to 11.9 million units in 2021. Further, around 6.3 million passenger cars were produced in US auto facilities in 2021, an increase of 3.1% from 2020. Therefore, the growth of the automotive industry is driving the growth of the soap and cleaning products market.
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The soap and cleaning compounds market covered in this report is segmented –
1) By Type: Soap and Other Detergents; Surface Active Agents; Polish and Other Sanitation Goods
2) By Application: Household; Commercial
3) By Distribution Channel: Hypermarkets/Supermarkets; E-Commerce; Pharmacy Stores; Other Distribution Channels
4) By Category: Mass; Premium
5) By End User Application: Health & Beauty; Dishwash; Clothes; Other End Use Applications
The soap and cleaning compounds market report table of contents includes:
1. Executive Summary
2. Market Characteristics
3. Market Trends And Strategies
4. Impact Of COVID-19
5. Market Size And Growth
6. Segmentation
7. Regional And Country Analysis
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27. Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
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