As per the report published by Fior Markets, The global soap noodles market is expected to grow from USD 3,600.4 Million in 2017 to USD 4,900.7 Million by 2025 at a CAGR of 3.9% during the forecast period from 2018-2025. The Asia Pacific emerged as the leading contributor in the global soap noodles market because of growing awareness about hygiene among the population and an enhancement in the standard of living in the developing economies of Asia Pacific such as China, India, and Japan which are projected to boost the demand for soap bars. This, in turn, is estimated to propel the demand for soap noodles in APAC in the near future.
Global Soap Noodles Market by Product Type (Vegetable Oil, Tallow), Application (Household Use, Industrial Use, Special Purpose), Region, Global Industry Analysis, Market Size, Share, Growth, Trends, and Forecast 2018 to 2025.
DOWNLOAD FREE SAMPLE REPORT:https://www.fiormarkets.com/report-detail/375955/request-sample
Key leaders in the industry include Permata Hijau Group, KLK OLEO, 3F INDUSTRIES LTD., Deeno Group, Adimulia Sarimas Indonesia among others. The developing nations are offering greater opportunities and leaders are continuously focused on new product developments and venture capital investments to obtain market share. For instance, Singapore-based Musim Mas Holdings, a leading competitor in the soap noodles market, collaborated with Genting Plantations Group in March 2015 to set up a palm oil refinery in Malaysia. This move helped the company expand its capacity in the region.
The product type segment is classified into vegetable oil and tallow. The vegetable oil segment is dominating the soap noodles market with USD 2,423.06 Million in 2017. The vegetable oil segment accounted for the major shares of the soap noodles market because of the increased demand for soap noodles using vegetable oil in the Chinese market and the addition of palm oil as a main ingredient which will contribute to the growth of this market segment in the coming years. The application segment includes household use, industrial use and special purpose. The household use segment held market share of 46.20% in 2017. The increase in population in South-East Asia and Central Asia and the rise in demand for soap products due to the increase in awareness towards hygiene are the major factors that augment the growth prospects of the soap noodles market in this segment.
Evolving preference of consumers towards hygiene and living standard and awareness for cleanliness is a major factor driving the market. High implementation of numerous promotion and marketing activities for bar soap is paving the way for manufacturers to achieve new milestones in manufacturing products with negligible defects. In addition, increasing demand of the product by end-use industries in developing countries including India and China is fuelling the growth of market. Harmful effects of soap noodles may hamper the growth of market. However, the demand for the product is rising significantly with the improvement in soap bars such as herbal soap, aromatherapy soap , moisturizing soap, anti-bacterial soap, etc.
Customization of the Report:
This report can be customized to meet the client’s requirements. Please connect with our sales team (firstname.lastname@example.org), who will ensure that you get a report that suits your needs.