Hand Soap Production Soars, Driven Primarily by Precautionary Hand Hygiene Measures During Covid19
Hand soap brands are focusing all-out efforts towards the optimization of supply chains, and bolstering e-commerce channels.
Growth in the sales of personal hygiene products and the development of specialized formulations for various skin types are anticipated to generate key opportunities according to a recent report by Fact.MR. The global hand soap market will witness strong growth in the coming years by marketing and branding efforts through the different media channels.
"Leading FMCG manufacturers have set up dedicated initiatives to handle the covid-19 outbreak, by minimizing the costs of their offerings. In addition, manufacturers are also creating hand soap donation programs for low income sections of society, who are susceptible to the epidemic," says the Fact.MR report.
Read Report- https://www.factmr.com/
Hand Soap Market- Key Takeaways
• Conventional hand soap formulations are highly sought after, driven by low cost, and multiple variants. Concerns over parabens support the rapid rise of organic options.
• Hand soap for household applications account for more than 60% of sales, driven by changing consumer lifestyles in developing economies.
• Supermarkets and hypermarkets are the primary distribution channels for hand soap products. However, the coronavirus crisis is boosting the growth of online channels.
• Asia Pacific, followed by North America accounts for a majority of the hand soap markets, propelled by commercial and household applications.
Hand Soap Market- Key Driving Factors
• A rise in consumer awareness about personal hygiene is anticipated to scale up demand.
• Investments in new formulations for varied skin types and sensitivity will sustain demand.
• Superior performance of hand soap in comparison to hand sanitizer is set to aid market growth
Hand Soap Market- Key Restraints
• Volatility in the prices of raw materials are a key concern for hand soap manufacturers.
• Environment concerns associated with hand soap formulations are expected to hinder market growth.
COVID-19 Impact on Hand Soap Market
The coronavirus, like the flu, and common cold is primarily spread via contact with infected droplets. Consequently, regulatory bodies such as the Centers for Disease Control and Prevention have recommended the washing of hands with soap and water. This trend will help in the expansion of the hand soap market for the foreseeable future.
PR Source- https://www.factmr.com/