India Soap Market size was estimated at $3,085.6 Million in 2019 and is expected to reach $4,763.6 Million by 2027, growing at a CAGR of 6.46% during the forecast period of 2020 to 2027.
India Soap Market Growth Factors
The market scenario of soaps in the Indian context has seen tremendous growth. Many factors that have accelerated the growth of India’s soap market are considered to continue to push the growth of the market over the upcoming years. Currently, 700 companies are active in the soap industry in India. The soap market capitalisation is estimated to be 17 billion US dollars. The main contributor to the product market is the increase in per capita income as well as a better standard of living in urban areas. Another key driver that is uplifting the product market in India is the rampant awareness about the importance of health and hygiene. Soaps are used to clean the dead skin cells and contaminants. But now in addition to cleansing new areas are being tapped by manufacturing soaps to augment better skincare as value addition to personal well being. As expendable income is rising, people are able to afford soap products, especially speciality soaps that provide different results.
Increase in the funding of research and development of higher quality and speciality soaps will uplift the product market further over the next years. In effect, soaps with cooling agents and herbal constituents are opening more avenues for greater demand. There has been a shift of people towards herbal soap due to their therapeutic value. Further expansion in soap and detergent industry consisting of laundry and toilet soaps, synthetic detergents in the form of liquid, powder, and bar lead to a great variety of selling points. Technologically, more availability of the internet and operation of e-commerce operators is also a driving force for market growth.
Due to the recent impact of COVID-19, a shift has been observed to instant sanitizers. But it also leads to even greater awareness about the importance of cleansing. Other possible threats include the presence of chemicals and toxic ingredients in soaps which discourages consumers from using the product. Yet, the soap market in India is expected to see steady growth over the course of the next few years because of greater penetration possibility into rural India.
India Soap Market Segmentation
India Soap Market Country Analysis
Accounting for over 50% of the consumer goods industry, the soap manufacturing sector is one of India’s oldest sectors operating in the fast-moving consumer goods (FMCG) industry. The soap and detergent sector consists of toilet and laundry soaps, bar soaps, and synthetic detergents. The demand for soap is usually high in rural markets. In fact, 50% of all soaps manufactured in India are sold in rural markets. The explanation for this trend is the growing awareness of the value of maintaining a high level of hygiene among residents of rural areas. More customers prefer soaps with herbal components and cooling agents due to their therapeutic value. Top participants in the Indian soap Market include Godrej Consumer Products Ltd., Jyothy Laboratories Ltd., and Colgate Palmolive (India) Ltd.
India Soap Market Share and Competition
Key companies operating in this industry are: Hindustan Unilever Ltd., ITC Ltd., Wipro Ltd., Godrej Consumer Products Ltd., Colgate Palmolive (India) Ltd., Godrej Consumer Products Ltd., ITC Ltd., Jyothy Laboratories Ltd., Wipro Ltd., Cholayil Pvt. Ltd., Karnataka Soaps and Detergents Ltd., the Himalaya Drug Company, Reckitt Benckiser (India) Pvt. Ltd. Himalaya, another giant skincare product manufacturer in India, has announced the launch of its new ‘Ayurveda Clear Skin Soap’ on 31 July 2019. The company launched this new soap due to the need of a medical solution to the skincare industry. The company claims that its soap will replace all the medical remedies which were being used till now by the people of India. The remedies to be replaced will be oil use, herbals use, and many others like these. The company set new milestones in the industry of Indian soaps.
Report Highlights
• Historical data available (as per request)
• Estimation/projections/forecast for revenue and unit sales (2020 – 2027)
• Data breakdown for every market segment (2020 – 2027)
• Gross margin and profitability analysis of companies
• Price analysis of each product type
• Business trend and expansion analysis
• Import and export analysis
• Competition analysis/market share
• Supply chain analysis
• Client list and case studies
• Market entry strategy
Industry Segmentation and Revenue Breakdown
Product Analysis (Revenue, USD Million, 2020 - 2027)
• Lux
• Pear
• Dove
• Santoor
• Dettol
• Vivel
• Others
Category Analysis (Revenue, USD Million, 2020 - 2027)
• Beauty soaps
• Health soaps
• Others
Region Analysis (Revenue, USD Million, 2020 - 2027)
• United States
• Canada
• Mexico
• France
• Germany
• Italy
• Spain
• United Kingdom
• Russia
• China
• India
• Philippines
• Malaysia
• Australia
• Austria
• South Korea
• Middle East
• Japan
• Africa
• Rest of World
India Soap Market Companies
• Hindustan Unilever Ltd.
• ITC Ltd.
• Wipro Ltd.
• Godrej Consumer Products Ltd.
• Colgate Palmolive (India) Ltd. Godrej Consumer Products Ltd.
• ITC Ltd.
• Jyothy Laboratories Ltd.
• Wipro Ltd.
• Cholayil Pvt. Ltd.
• Karnataka Soaps and Detergents Ltd.
• The Himalaya Drug Company
• Reckitt Benckiser (India) Pvt. Ltd.
Available Versions:-
United States India Soap Industry Research Report
Europe India Soap Industry Research Report
Asia Pacific India Soap Industry Research Report
