The new report by Expert Market Research titled, ‘India Soap Market Price, Share, Size, Trends, Growth, Report and Forecast 2023-2028’, gives an in-depth analysis of the India soap market, assessing the market based on its segments like types, forms, products, distribution channels, and major regions.
The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators and analysing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2018-2028)
- Historical Market Size (2022): Approximately INR 3.53 Billion
- Forecast CAGR (2023-2028): 6.8%
The soap industry in India is being driven by the increased demand for soaps and cleansing agents among consumers. Soaps find diverse uses in various applications such as in kitchen cleaning, body washing, laundry, and medicine. In addition, the surged demand for organic and chemical-free soaps is significantly contributing to the market growth.
Natural oil-based soaps are increasingly gaining prominence among consumers as they offer skin health improvement benefits, hence propelling the market growth. Moreover, the rising demand for solid bar soaps due to their wide variety and cost-effective benefits is also estimated to boost the market growth in the coming years.
India Soap Industry Definition and Major Segments
Soaps are body cleansing agents that come in solid and liquid forms. These are obtained from sodium salts of fatty acid chains through the process known as saponification. These are used for body cleansing and household cleaning like kitchen utensils, among others. In addition, soaps are used in the production of lubrication agents.
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The market, on the basis of type, can be bifurcated into:
On the basis of form, the market can be segmented into:
Based on product, the market can be segregated into:
- Bath Soap
- Kitchen Soap
- Medicated Soap
- Laundry Soap
By distribution channel, the market can be categorised into:
- Supermarkets and Hypermarkets
- Convenience Stores
The regional markets for soap include:
- North India
- South India
- West India
- East India
India Soap Market Trends
The escalating health consciousness concerning health, hygiene, and sanitation are predicted to aid the market growth in the coming years. In the wake of the COVID-19 and the wide risk of its subsequent waves, the demand for disinfectants and antibacterial cleansers to reduce the spread of the virus is expected to grow. In addition, the growing demand for antibacterial soaps and cleansers owing to the rising hygiene consciousness is also anticipated to aid the market growth.
The increasing awareness of hygiene maintenance and the importance of sanitation are leading to an increased demand for soaps in rural regions of the country. This is anticipated to bolster the market growth in the forecast period.
Key Market Players
The major players in the market are Godrej Consumer Products Limited, Hindustan Unilever Limited, ITC Limited, The Himalaya Drug Company, and Wipro Enterprises (P) Ltd, among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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