The Global Soap Noodles Market is forecast to reach USD 1,250.1 Million by 2028, according to a new report by Reports and Data. Soap noodles can be defined as fatty acid’s sodium salt, which are derived from oils and fats of vegetable and animals. These fatty acids are usually made from vegetable oils like palm oils, olive oil, coconut oils, and animal fats. It is specified with the help of sodium hydroxide, which helps in forming salt of the fatty acids. These are the main component used in the manufacturing of soap bars. It is used in various types of soaps like toilet soap, multipurpose products, and laundry soaps.
The report lists significant players operating in the market that are employing strategies to cater to the surging consumer demand. In addition, rising investments by the key industry players for the RD of products and automation of production facilities will bolster market growth during the forecast period. The report also discusses in detail the recent collaborations, partnerships and mergers acquisition in the market to help clients make strategic investment plans accordingly.
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An extensive analysis of the global market is included in the report which covers different factors from region-centric key statistical data to macro- and micro-economic factors that are crucial for forecast assessment. The study also offers a comprehensive analysis of the growth prospects, patents, technological advancements, and product launches in the market.
The report projects the growth rate of the leading market segments for the coming years by studying the current market scenario, past performance, demand and supply ratio, production consumption, revenue, challenges, and growth opportunities in the market. The segmentation given in the study aims to help readers identify promising investment areas and help companies in formulating better business strategies to reach their desired goals.
Key Players:
Key participants include KLK Oleo, IOI Oleochemicals, Jocil Limited, Wilmar International, Olivia Impex Private Limited, Evyap-Oleo, John Drury Co Ltd, and M Bedforth Sons, Raj Industries, Timur oleochemicals Malaysia and Godrej.
Major competitors around the world have been stressed to understand the level of competition. Several factors, such as productivity, manufacturing base, and product type, were considered to investigate various global regions, such as North America, Latin America, Europe, Asia Pacific, and India. In order to clearly understand the current scope of the existing industry, the competitive environment has been refined. This report also states import and export consumption, supply and demand Figures, cost, price, revenue and gross margins.
Further key findings from the report suggest:
- The Soap noodles market held a market share of USD 1 Million in the year 2020 and is forecasted to grow at a rate of 3.1% during the forecast period.
- In context to Source, the Vegetable Oil segment generated a higher revenue of USD 588.9 Million in 2020, with a CAGR 4.0% during the forecast period. Benefits associated with the use of this source in manufacturing of high quality white or cleaner soaps, with consistent composition, results in its elevated preference among the end-users, which contribute to revenue generated by this segment.
- In context to Process, the Saponification production process segment is projected to witness a faster growth rate of 3.5% during the forecast period, which generated a revenue of USD 544.7 Million in 2020. The growth rate witnessed by the Saponification production process segment is attributed to its inexpensive nature and operational ease, which is resulting in its elevated use in developing region, which in turn, is resulting in the growing popularity among the manufacturers.
- In context to Application, the Personal hygiene soap segment held the largest market share of 41.0% in 2020, with a CAGR of 3.3% during the forecast period. The market share occupied by this segment is the result of rising awareness about hygiene and associated elevated use of soaps for personal hygiene that results in the elevated demand for the fatty acids in this segment.
- Europe held 0% of the market in 2020, with a growth rate of 3.3% during the forecast period. Factors like continuous growth in the healthcare sector, and expanding textile industry contributes to the market share occupied by this region.
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Market Segmentation:
Source Type Outlook (Volume, Kilo Tons; Revenue, USD Million; 2018-2028)
- Vegetable Oil
- Tallow
Process Outlook (Volume, Kilo Tons; Revenue, USD Million; 2018-2028)
- Saponification production process
- Fatty acid route
End-User Outlook (Volume, Kilo Tons; Revenue, USD Million; 2018-2028)
- Household use
- Industrial use
- Other
Application Outlook (Volume, Kilo Tons; Revenue, USD Million; 2018-2028)
- Personal hygiene soap
- Multi-purpose soap
- Laundry soap
- Special purpose soap
- Others
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Regional Outlook (Volume, Kilo Tons; Revenue, USD Million; 2018-2028)
- North America
- U.S
- Europe
- UK
- France
- Asia Pacific
- China
- India
- Japan
- MEA
- Latin America
- Brazil
Salient Trends of the Soap Noodles Market:
- The Soap noodles market is forecasted to grow at a rate of 3.1% during the forecast period and reach USD 1,250.1 Million in 2028.
- Different initiatives taken by the market players are supporting the growth of the market. In October 2017, Kuala Lumpur Kepong Bhd (KLK), one of the mentionable market player, had invested RM40 million in its research and development (RD) center and reactor specialty ester plant (EP4). With the help of such increased investment on RD centers, it would be able to focus on efforts for palm-based downstream product’s research and commercialization, which in turn would positively impacting the overall growth of the market.
- In April 2014, Evyap, Turkish soap-maker, had expanded to Malaysia, where it had established a USD 200 million soap production and oleochemicals complex. Such initiatives by the market players are propelling the overall growth of the market.
Reasons for Buying this Report:
- This report provides pin-point analysis for changing competitive dynamics
- It provides a forward-looking perspective on different factors driving or restraining market growth
- It provides a six-year forecast assessed on the basis of how the market is predicted to grow
- It helps in understanding the key product segments and their future
- It provides pin point analysis of changing competition dynamics and keeps you ahead of competitors
- It helps in making informed business decisions by having complete insights of market and by making in-depth analysis of market segments
- PEST analysis of the market in the five major regions.
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