Fior Markets launched a study titled “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 Global Forecast 2018-2025.
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.Growing demand of the soap noodles by end-use industries in developing countries including India and China and heavy implementation of numerous promotion and marketing activities for bar soap is driving the growth of the market.Also, 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. which will boost the market in forecast forthcoming years.
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The Vegetable Oil segmentheld largest market share of 67.30% in 2017
The product type segment is classified into vegetable oil and tallow. The vegetable oil segment is dominating the soap noodles market 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 Household Use segment valued around USD 1,663.38 Million in 2017
The application segment includes household use, industrial use and special purpose. The household use segment dominated the market with the highest share 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.
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Regional Segmentation Analysis:
The market is analysed on the basis of five regions namely North America, Europe, Asia Pacific, South America, and Middle East and Africa. Asia Pacific held the largest market share of approximately28.57% in 2017.TheAsia 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.
The major players of market include PermataHijau Group, KLK OLEO, 3F INDUSTRIES LTD., Deeno Group, AdimuliaSarimas Indonesia, IOI Oleochemicals, Wilmar International Ltd., John Drury, Musim Mas Holdings, and VVF Limited.
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