The global market for the soap tablet market is estimated to be worth USD 6,475.6 million in 2021 and is anticipated to reach a value of USD 12,041.9 million by 2031. Sales are projected to rise at a CAGR of 6.4% over the forecast period between 2021 and 2031. The revenue generated by the soap tablet market in 2020 was USD 6,280.9 million. The industry is anticipated to exhibit a Y-o-Y growth of 3.1% in 2021.
Global Soap Tablet Market Industry Assessment
| Attributes | Key Insights |
|---|---|
| Historical Size, 2020 (A) | USD 6,280.9 million |
| Estimated Size, 2021 (E) | USD 6,475.6 million |
| Projected Size, 2031 (F) | USD 12,041.9 million |
| Value-based CAGR (2021 to 2031) | 6.4% |
The target market is segmented under end-use, skin type, and distribution channel. The market is further sub-categorized under these segments to provide a granular aspect which will benefit the businesses operating in the market to improve on their products, gain a competitive edge over other players, and grasp a major portion of the market, in parallel.
There is increasing demand for soap tablets since consumers around the world are shifting to green products that are not packaged in plastic. Soap tablets are less wasteful than liquid soap since the latter is usually packaged in plastic containers, which are also disposed of. These compact, travel-friendly tablets are popular with consumers today do a better job of reducing water consumption than their larger predecessors and are more durable.
Overall, the market is aligned with the general push towards sustainable living and zero waste, as well as the convenience that they provide for travellers. Furthermore, soap tablets are used in a flavoured manner, meaning that they can also be produced based on the preferences of consumers.
The competitive landscape of the soap tablet market is characterized by a mix of established players and emerging brands, each vying to capture a share of this growing segment. Key players in the market include Orial Imara Pvt Ltd., Colgate-Palmolive Company Limitedf, Tirtyl Trading Pty Ltd., and Blueland, among others. Key companies compete on factors such as design innovation, material quality, and brand reputation.
The industry is set to experience upward growth during the forecast period. It is projected to create an incremental opportunity of USD 5,566.3 million and is predicted to rise approximately 1.9 times the current market value through 2031.
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Some of the factors driving the soap tablets market including the increasing number of enlightened and well-travelled consumers. Also, increasing customer knowledge of safety and sanitation is likely to boost the demand for soap tablets in the near future.
Soap tablets are more safe and efficient than the regular shop as they are available with precise size and are pre-equipped with additives and rinse aids, which enhanced the quality of cleaning and also, the chance of wastage is very less.
However, the coronavirus pandemic does not affect the market even, the demand for hygiene products including tablet soap is increasing in the market. Many players in the market take the advantage of the opportunity and expand their product portfolio.
For instance, Orial Imara (an India based soap tablet manufacturer and exporter) introduced Elaria, a tablet soap, which kill the germs and virus efficiently. Also, many people use such tablet soaps in place of sanitizers because these are only used by one person at a time so there is no chance of transformation of the virus and also, sanitizer leave the hand feeling itchy and dry. This raises the demand of soap tablets during the pandemic all around the globe.
People are becoming more conscious about the negative effects of synthetic chemicals used in the manufacturing process of soap, thus a growing number of customers are opting for organic and natural hygiene products, such as soap tablets. As a result, many players invest in the R&D sector and introducing natural soap that propelling the soap tablet market forward.
For instance, MOYENNE launched tablet soap which is light in weight, compact size and made up of natural high-quality biodegradable environmentally friendly materials, these are very suitable for school, camping, business travel, hiking, barbecue and other outdoor activities.
Furthermore, people purchase this tablet because of its compact size. It is very difficult for people to use soap while travelling and then again packed used soap. These types of tablet soap are the better option for the tourist. Moreover, this soap is a good choice for men, they can put this tablet in their wallets. All such factors fuel the sales of the soap tablet.
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Environmental safety, sustainability, and green development are proven to be more appealing to citizens in the region. Youth take part in the demonstrations against firms that destroy the environment. Players are encouraged to focus not only on hygiene products but also on environmentally friendly products as a result of the trend of customers turning to more sustainable products.
Furthermore, the rise in customer preference for soap tablets is predominantly due to their hygiene considerations, energy-saving characteristics, and convenience in the region likely to increase the sales in the regional market.
The rise in the soap tablet industry in the region is also due to men's growing awareness of self-care, personal hygiene, healthy-looking, and skincare. Players are primarily involved in order to get momentum with millennial males. This product portfolio expansion by the company gains a competitive advantage in the regional market.
The inclination of customers towards a healthy lifestyle and the increasing demands for sustainable hygiene products is expected to grow in the regional market in the near future. Also the increasing trend of vegan products among millennials fueling the demand growth in Europe.
Furthermore, hotels and luxury resorts are increasing in European countries because of the increase in the number of tourists in the region. So, there is a good option for the hotel management to add soap tablets in their toiletry gift. Soap tablets are a new product in the market and it is a product of luxury. This increases the demand for soap tablets in the regional market.
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Players invest a huge amount in the research and development sector to innovate advanced technology that will reduce the overall energy, time and water of the user. Some of the leading manufacturers and suppliers of soap tablets include
Companies of soap tablets are focusing on strengthening their presence and distribution channels in organized retailing to generate more sales revenue. Furthermore, Players are collaborating with local farmers to source natural ingredients directly from them, which help the company to increases the product’s attractiveness to the customers.
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
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Soap Tablet Market
