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.
The food and beverage industry is involved in transforming raw food materials into consumer food products. The sector includes groceries, oils and fats, food additives, functional foods and beverages, canned food, packaged foods, health and natural foods, baby food, animal food, syrup, baked food, soft drinks, alcoholic and non-alcoholic drinks, energy drinks, and packaging. The companies in this industry are looking for innovations in food that meet the changing consumer’s preferences in terms of global flavors, and varieties.
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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.
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)
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
Regional Outlook (Volume, Kilo Tons; Revenue, USD Million; 2018-2028)
- North America
- Europe
- Asia Pacific
- MEA
- Latin America
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Identifying the basic business drivers, challenges, and tactics adopted:
· The report provides intrinsic details and fluctuating aspects that influence the commercial dynamics of the Soap Noodles market along with integral factors of the rise in the demand for the product have been mapped across vital geographical regions.
· An overview of the multifarious applications, business areas and the latest trends observed in the industry has been laid out by this study.
· Various challenges overlooking the business and the numerous strategies employed by the industry players for successful marketing of the product have also been illustrated.
· The research inspects the sales channels (indirect, direct, marketing) that companies have chosen for the primary product distributors and the superior clientele of the market.
Thank you for reading this article. You can also get chapter-wise sections or region-wise report coverage for North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
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