Market volume of global soap market recorded a single-digit YoY growth in 2021
Market volume of global soap market recorded a significant growth between 2018-2021.
The personal hygiene market consists of retail sale of anti-perspirants and deodorants, bath & shower products, and soap. Soap includes both bar soap and liquid soaps. Market volume is defined as the total number of transactions.
Five forces analysis
The personal hygiene market will be analyzed taking manufacturers of personal hygiene products as players. The key buyers will be taken as retailers of personal hygiene products such as supermarkets and convenience stores, and suppliers of packaging and raw materials such as surfactants, biofuels (e.g. palm oil), and aluminum salts as the key suppliers.
The market is well developed with many players selling similar products. In terms of rivalry, players in the personal hygiene market face high operating and exit costs; however, it is tempered by a high degree of product and geographical diversification.
Switching costs for buyers in the market are low. As such, major market players have established strong brands that retailers are compelled to stock in order to meet customers' demands. Though buyers in this market tend to be large and possess a high degree of buyer power, large manufacturers can mitigate this through the development of strong brand identities, among other methods.
Suppliers tend to be large organizations, and are able to leverage economies of scale in order to boost their position in the market. Moreover, quality raw materials are important to players in this market. That said, market players can sometimes source alternatives to certain ingredients, and backward integration is not unheard of – these factors limit supplier power.
Competitive landscape
The Global personal hygiene market has experienced a moderate value and volume growth in recent years. Unilever is the leading player in the sector in value terms, while Procter & Gamble and Colgate-Palmolive Company accounted for second and third largest value shares, respectively, in 2020.
Switzerland
United States of America
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