Selbyville, Delaware, May 31, 2021 (GLOBE NEWSWIRE) – Based on the Global Market Insights Inc. report, the Global Report Liquid Hand Soap Market was estimated at $ 2.5 billion in 2020 and is expected to exceed $ 5 billion by 2027, the registration of a 12% CAGR from 2021 to 2027. The report provides in-depth analysis of major investment avenues, major winning strategies, drivers and opportunities, hesitant industry trends, market estimates as well as competitive size and scenarios.
The growing concern of employers for the safety and cleanliness of employees in offices, after the spread of covid-19 around the world, has led to increasing demand for liquid hand soaps in offices globally. In addition, the government imposes many recommendations and guidelines for public places including shopping malls to maintain cleanliness and support product growth.
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The sachet packaging in the liquid hand soap market has seen the highest growth of over 10.5% CAGR in the coming timeframe due to its various benefits for consumers as well as manufacturers, in particular low production cost and ease of transport.
Organic liquid hand soaps are expected to record lucrative growth over the 10% CAGR between 2020 and 2027, due to the upward trend of natural and organic ingredients in personal care products.
The supermarket / hypermarket distribution channel holds a significant share of over 35% of the global liquid hand soap market, with supermarkets / hypermarkets being one of the largest retail chains in the developed region. In the commercial application, the hospital sector anticipated growth with the high rate of CAGR of 10.5% in the coming years.
The pharmaceutical stores distribution channel is expected to reach over $ 1.2 billion and is expected to show significant growth of over 10.5% CAGR in the coming times due to the increase of hospitals and clinics around the world in due to the increased health emergency during the spread of covid-19. Moreover, pharmaceutical stores are one of the traditional and trusted supply chains for purchasing personal care products with professional or expert advice. Therefore, these factors led to fuel the growth of pharmaceutical stores during the forest period.
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The North America region holds the largest share of the market and is expected to grow with a lucrative CAGR of over 9.5% due to the growing government initiative for cleanliness, especially in the developed region. . On the other hand, the Asia-Pacific region forecast significant growth in the global liquid hand soap market of over 11.0% CAGR between 2020s and 2027s. In addition, heavy use of liquid hand soap for women hands in multiple sectors such as hospitality, hospitals, schools, office space, shopping malls and industries which are expected to increase are expected to show significant growth of over 10.5% CAGR in the coming period , demand over the coming period.
The main manufacturers operating in the liquid hand soap industry include Procter & Gamble, Unilever, Henkel Corporation, GOJO industries, Kao Corporation, 3M, Johnson & Johnson, AVON, Colgate – Palmolive and many more.
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