The global organic soap market is expected to post a CAGR of close to 8% during the period 2019-2023, according to the latest market research report by Technavio.
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A key factor driving the growth of the market is the increasing adoption of organic BPC products. The BPC industry is witnessing various transitions, including consumer shift from synthetic products to organic products. Since organic soaps have few or no known harmful effects and are made of natural and organic ingredients, competitors are increasingly launching organic soaps to gain higher market shares. Organic BPC products are made of organic oils, plant-based butter, organic essential oils, and natural clays. Organic soaps made of such ingredients are especially safe for sensitive skin as they help in skin nourishment and maintains the freshness of the skin. Therefore, the shift from the use of traditional and synthetic soaps to organic soaps is the major market driver as consumers are becoming more conscious of skin health and environmental wellbeing.
As per Technavio, the improvements in labeling and packaging of organic soaps will have a positive impact on the market and contribute to its growth significantly over the forecast period. This global organic soap market research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.
Global organic soap market: Improvements in labeling and packaging of organic soaps
The use of improved packaging and labeling by market competitors is expected to be a major trend in the global organic soap market. The growing consumer awareness and stringent government regulations have compelled market players to include ingredient information and instructions for use on organic soap labels. BPC products, including organic soaps, sold in most countries, must comply with different labeling regulations as required by the FDA under the Federal Food, Drug, and Cosmetic Act (FD&C Ad) and the Fair Packaging and Labeling Act (FP&L Ad). Market competitors are including standardized benefits on the labels of their organic soaps. Market players are also launching organic soaps in convenient and attractive packaging formats such as in bars and liquid form. They are also increasingly using digital technology to develop improved graphics and printed labels to appeal to a larger audience, which will increase sales and boost the growth of the global organic soap market during the forecast period.
“The global organic soap market is largely being driven by growing consumer awareness about the harmful effects of synthetic soaps and the benefits associated with organic soaps. Subsequently, many people have switched over to organic soaps that are free of chemicals. Many organizations are also coming forward to promote the benefits of organic soaps. Therefore, these factors are expected to promote organic soap market growth during the forecast period,” says a senior analyst at Technavio.
Global organic soap market: Segmentation analysis
This market research report segments the global organic soap market by product (organic bar soap and organic liquid soap) and geographical regions (North America, Europe, APAC, South America, and MEA).
The North American region led the market in 2018, followed by Europe, APAC, South America, and MEA, respectively. However, during the forecast period, the APAC region is expected to register the highest incremental growth due to the growing urbanization, rapid economic development, increasing number of dual-income households, and a rising preference for chemical-free skincare products.
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Five Forces Analysis
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