February 19, 2020
As per the latest study titled ‘Soap Noodles Market Size By Source (Vegetable Oil, Tallow), By Process (Saponification, Fatty Acid Route), By Application (Personal Hygiene Soap, Laundry Soap, Multi-purpose Soap), Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, France, Spain, Italy, Russia, China, India, Japan, Australia, Indonesia, Malaysia, Brazil, Mexico, Saudi Arabia, South Africa, UAE), Growth Potential, Price Trends, Competitive Market Share & Forecast, 2019 – 2025’ available with Market Study Report LLC, the global soap noodles market is expected to surpass USD 1.14 billion by the year 2025.
According to the report, growing demand for toilet soaps across the world is driving the soap noodles market. Manufacturers are widely using soap noodles for the production of various toiletries. High demand for personal care and cosmetic soaps across developing nations is augmenting the business outlook. However, shifting consumer preference for liquid soaps and advancements in liquid soap portfolio will impede the growth of soap noodles market.
Speaking of application terrain, personal hygiene soap segment is predicted to continue its dominance in soap noodles market over 2019-2025. These high-grade soap bars are usually manufactured using soap noodles. They have 70% fatty matter composition and contain palm kernel and palm oil. Consumers across the world are inclined towards personal hygiene as well as beauty products that has been flourishing with the help of effective promotion and sales techniques.
In terms of process, saponification process segment captured over half of the market size in 2018 and is estimated to increase at the CAGR of 3% over the forecast timeframe. The process is relatively cheaper and less complicated as compared to the fatty acid process which makes it a highly preferred choice. It is extensively employed to produce premium quality soap noodles that are later used in numerous toilet soap preparations.
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In terms of regional trends, Asia Pacific was a major revenue ground in 2018 and is anticipated to expand with 3% CAGR through 2025. The region harbors the presence of chief companies that manufacture palm oil such as IOI oleochemicals and KLK OLEO. Easy availability of palm derivatives at a cheaper rate will fuel the growth of Asia Pacific soap noodles market.
Key manufacturers of soap noodles market are Olivia Impex Private Ltd., John Drury & Co. Ltd., M Bedforth & Sons, IOI Oleochemicals, KLK Oleo, Timur Oleochemicals Malaysia, Musim Mas Holdings Pte, Jocil Ltd., EVYAP-OLEO, Rubia Industries Ltd., and Wilmar International among others.
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