The global organic soap market size was valued at USD 2.29 billion in 2023. The industry is expected to expand to USD 3.55 billion by 2030, exhibiting a CAGR of 6.5% over the study period.
Organic soaps have nourishing and skin moisturizing property-based formulas, glycerol, and other natural compounds obtained from plant-based sources. The market’s growth can be credited to the surging popularity of scented shampoos and soap bars, which is bolstering the demand for the product.
Fortune Business Insights™ provides this information in its research report, titled “Organic Soap Market, 2024-2030”.
Information Source:
https://www.fortunebusinessinsights.com/organic-soap-market-108859
Top Key Companies Covered in the Organic Soap Market:
- Pangea Organics (U.S.)
- Bronner's Magic Soaps (U.S.)
- Natura & Co. Holdings S.A. (Brazil)
- L’OCCITANE INTERNATIONAL SA (France)
- Neal's Yard Remedies (U.K.)
- Osmia (U.S.)
- Truly's Natural Products (U.S.)
- Forest Essentials (India)
- Chagrin Valley Soap & Salve (U.S.)
- Stephenson Group (U.K.)
Segmentation:
Substantial Consumer Demand for Powder Forms of Bath Soaps to Fuel the Segment Growth
Based on form, the market is bifurcated into liquid and solid. The solid segment captures the largest organic soap market share. The substantial demand for powder and bar forms of bath soaps among the consumers is fostering solid segment growth.
Specialty Stores Segment Dominates Due to Considerable Consumer Demand for Luxury Personal Hygiene Products
In terms of distribution channel, the market is classified into online channels, hypermarkets & supermarkets, specialty stores, and others. The specialty stores segment accounts for the largest market share. The substantial demand for luxury personal hygiene products among consumers at specialty stores is augmenting the segment growth.
Based on region, the market is classified into Europe, the Middle East & Africa, North America, Asia Pacific, and South America.
Report Coverage
The report provides vital insights into the prominent factors affecting the market growth. In addition, it highlights the latest trends, key segments, and notable industry developments. Besides this, the report offers a comprehensive coverage of the major strategies opted for by leading companies to capture the leading share.
Drivers and Restraints:
Surging Adoption of Organic Soaps Offering Functional Skincare Benefits to Escalate the Market Growth
One of the major factors propelling the organic soap market growth is a rise in the uptake of the product offering functional skincare benefits. Natural products rich in extracts derived from unripe fruits and aloe vera are being produced by manufacturers. Glycoalkaloid, α-tomatine, and many other ingredients that better offer functional benefits of antioxidants, anti-aging, and antiseptic to the users’ skin are present in these extracts.
However, the growing usage of do-it-yourself (DIY) liquid bars and hand gels may impede market growth.
Regional Insights:
Asia Pacific Dominated Due to Transition in Consumer Presence Toward Sustainable Personal Care Products
Asia Pacific market for organic soap registered the major share in 2022. The switch in consumer preference toward sustainable personal care products such as shampoos, soaps, and others is increasing the demand for the product, impelling regional growth.
North America’s organic soap market growth can be attributed to the growing occurrence of skin itching and other skin problems, which is bolstering the product demand in Canada and the U.S.
Competitive Landscape:
Companies Focus on Partnership Strategies to Boost Their Presence
Market players emphasize carrying out rounds of strategic investments to establish a customer base and boost their manufacturing capabilities while strengthening their supply chain base globally. Several companies are also focusing on launching new products, opting for mergers and acquisitions, capacity expansion strategies, and others to enhance their position. Moreover, key players are also emphasizing deploying partnership strategies to expand their presence.
Key Industry Development:
November 2023: The Handmade Soap Company, an Irish body care and home fragrance products manufacturer announced a partnership with Vincent McDermott’s TR Partners for the expansion of its business presence through the travel retail channel. The company can supply shower gel, candles & diffusers, hand cream, soap, and other products to duty-free stores in Dublin, Cork and Shannon airports through this move.
