The global soap colorant market is expected to witness a CAGR of 5.5% to reach a value of $1,423.2 million by 2023
Bangalore, India, July 27, 2018: With its recently published study “Soap Colorant Market: Global Drivers, Restraints, Opportunities, Trends, and Forecast up to 2023”, Infoholic Research forecasts that the global market for soap colorant will continue to increase during the forecast period. The growing disposable income among developing countries and the increasing awareness regarding hygiene factors are driving the market growth. Further, the increasing demand for ingredient-based and eco-friendly personal care products is expected to positively impact the market. This will take the soap colorant market revenue to $1,423.2 million by 2023, growing at a CAGR of 5.5% during the forecast period.
Soap colorants are used as a raw material in the soap industry to provide colors to the final product and make them look vibrant and attractive to the customers. Increasing buying power, rising consumer awareness, and technological advancements united with regulatory reforms are empowering the industry across the globe. In this sense, soap colorant with an established market in developed economies is challenged by other developing countries, which are now the big customers of the market. The overall booming of the soap industry has contributed to the market demand for soap colorants. The price of soap colorants for natural and premium category soaps inclines to restrict the growth of the soap colorants market in low disposable income countries; yet it is expected to witness a high growth rate during the forecast period in developing & underdeveloped countries.
“Soap colorants have come a long way from being utilized as a commodity to having premium category shelf life. Increasing awareness regarding hygiene in various countries has taken the market at a fast pace. The developed economies captured the market, but owing to the dynamic market scenario, the soap colorants market is now penetrating deeper in developing countries such as China and India. The market is emerging and is expected to witness rapid growth in the next 5–6 years.” – Vasundhra Singh, Research Associate, Infoholic Research
The key insights of the report are as follows:
• The global soap colorants market has been analyzed based on material types:
• The study constitutes a classification based on end-user areas:
o Bar Soaps
o Liquid Soaps
o Shampoo & Conditioner
• The study covers the below-mentioned geographies:
o Asia Pacific
o North America
o Rest of the World
• Industry outlook: Market trends, drivers, restraints, and opportunities
Soap colorants market is expected to grow at a CAGR of 5.5% owing to various government initiatives concerning hygiene and more usage of liquid soap instead of bar soap.
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