Axiom MRC has updated all it's market research reports with the Economic Impact Analysis of COVID19 Pandemic on the market. Our team of analyst are following Comprehensive Three Dimensional (3D) Research Methodology along with large number primary interviews with key industry participants to bring insightful market reports to meet the current market requirements.
Soap noodles are derived from a sodium hydroxide reaction with vegetable oil (coconut oil, palm oil, or olive oil) or from animal fats (tallow). It is the most crucial ingredient for making soap bars and is a sodium salt of fatty acids. It results from the saponification of neutral fats, oils, and methyl esters, as well as the neutralization of fatty acids. Soap is a salt of a fatty acid utilized in various cleansing and lubricating products. Soap noodles are divided into two main categories: those produced using palm or vegetable oil bases and those produced using animal fats or tallow. Tallow (animal fat) or vegetable oil derivatives such as palm oil, olive oil, coconut oil, and palm kernel oil are generally used as raw materials in the production of bar soap noodles. Palm soap noodles, tallow soap noodles, coconut soap noodles, castor soap noodles, and many others are among the many varieties of soap noodles on the market.
In addition, they are available in a range of colours, from white to pale yellow, and their hardness changes from soft to hard. Due to the growing demand for soap noodles in the soap industry, the market is anticipated to expand over the forecast period.
The growth of the industry will be accelerated by the rapid expansion of retail and online sales channels, which will make soaps and detergents easily accessible and provide a wide range of product options to meet the preferences of consumers. The development of multifunctional products and more profitable marketing strategies will boost soap demand, thus driving the Asia-Pacific soap noodles market size. In China, the development of improved products within the enzymatic segment is projected to drive the market growth. In addition to rising consumer spending on hygiene products, shifting consumer preferences toward multipurpose soaps like herbal and aromatherapy soaps will further accelerate the market's growth over the foreseen period. Increasing disposable income and increasing household penetration rates of electric and electronic appliances in developing economies such as India, China, etc. are some key factors expected to contribute to the growth opportunities of the soap noodles market over the forecast period
The market is expected to have new opportunities with technological advancements and ongoing R&D activities to develop quality soap noodle products. This is expected to provide ample new growth opportunities in the market during the forecast period. China's chemical-technology capabilities are rapidly developing. Due to its economic nature, manufacturers in a variety of nations have developed their own products by adding various additives and reagents. The industry in countries like India is being helped by the increasing penetration of the product in rural areas. In addition, it is anticipated that an abundant supply of palm oil, as well as its growing use in toilet, laundry, and high-lather soaps, will increase Asia-Pacific soap noodles market opportunities in the forecast period.
A key factor that restrain the market growth is increasing popularity of liquid soaps and gels. In addition, acute lack of awareness, knowledge, and resources, as well as their availability also hampered the Asia-Pacific soap noodles market growth over the foreseen period. Furthermore, shifting preferences in the event of a predicted economic downturn, adjusting modern strategies to developing environmental concerns, huge fluctuations in raw material costs, and anticipated economic turbulence were other factors that hindered market expansion.
A key challenge that may affect the growth of the market is the availability of raw materials. Significant cost associated with the products and restricted accessibility of raw materials are major factors that are expected to pose key challenges for the market's growth over the forecast period. The shortage in raw materials may cause the manufacturers to face losses, leading to a production delay. In addition, the production of palm oil causes its price to fluctuate constantly. It eventually has an impact on the cost of soap noodles.
The report provides an in-depth analysis of soap noodles market, market size, and compound annual growth rate (CAGR) for the forecast period of 2023-2029, considering 2022 as the base year. A rise in demand for soap noodles in various applications is anticipated to stimulate the growth of the market and due to this factor, the market is expected to witness growth at a specific CAGR from 2023-2029.
The Asia Pacific soap noodles market comprises of different market segments like, source, process, application and country.
By source, the Asia Pacific soap noodles market includes key segments like
On the basis of source, the Asia Pacific soap noodles market divided onto vegetable oil and tallow. The vegetable oil segment dominates the Asia Pacific soap noodles market growth during the forecast period. This is due to its easy availability, biodegradability, and environmentally friendly nature. Vegetable oils are derived from natural sources such as seeds, nuts, and fruits. Among the other industries, they are widely used in the food, household, and personal care industries. This is due to its easy availability, biodegradability, and environmentally friendly nature.
By process, the Asia Pacific soap noodles market includes key segments like
Saponification process accounts for a large share and dominates the process segment in the Asia Pacific soap noodles market. The growth of this segment is due to its inexpensive nature and operational ease. It is the chemical reaction that occurs during the soap-making process when triglycerides are combined with a strong base to form fatty acid metal salts.
The Asia Pacific soap noodles market finds major application in
On the basis of applications, the Asia Pacific soap noodles market finds major applications in personal hygiene soap, multi-purpose soap, laundry soap, special purpose soap, and others. The personal hygiene soap segment accounted for high demand and dominated the market during the forecast period. The growth is due to the rising awareness about personal hygiene, the increasing population, and the escalating use of cleaning and personal hygiene products. In addition, rising government spending on the expanding retail sector also contributes to market expansion.
The Asia Pacific soap noodles market is studied for the following countries
Geographically, the Asia Pacific soap noodles market is studied in the China, Japan, India, and Rest of APAC. China is expected to hold the majority of shares followed by India and APAC. This is due easy availability of vegetable oil in the region, favourable government regulations, increasing investment in retail sector and the increasing palm oil production. In addition, rapid urbanization, mainly in India and China, has led to growing awareness in rural areas regarding hygiene and cleanliness, leading to an increase in demand for cleaning products, which will have a positive impact on product demand. Furthermore, the APAC region is one of the largest sources of soap noodles based on palm oils and raw materials.
The global spread of the novel coronavirus infection (COVID-19) has become a severe and unprecedented test for the growth of the country economy, and the country economy is facing ever greater downward pressure. Many countries' economies have been affected by the pandemic, which has slowed or slowed down economic activity, reduced global demand, significant declines in trade and investment, and difficulties in global production chains.
The COVID-19 pandemic had a significant impact on the country economy and soap noodles infrastructure due to the sudden increase in COVID-19 patients. It significantly increased the demand for soap noodles for personal hygiene, laundry and multi-purpose. Increasing preference of consumers towards awareness for cleanliness, personal hygiene etc during COVID-19 pandemic accelerates the market growth. However, due to the rapid spread of the COVID-19 virus and people's increased awareness of cleanliness and hygiene, the pandemic did not have a significant impact on the laundry detergent market.
The competitive landscape analysis of Asia Pacific soap noodles market is primarily focused on expanding the Asia Pacific growth of soap noodles industry with new product innovation, business expansion, increasing presence of range of manufacturer operating in soap noodles sector has led the growing demand for the market. Besides, the market offers range of products in different application to fulfil the required demand of consumer which is further contributing healthy growth in the market.
The key players studied in market are
February 2022: DKSH partners with IOI Oleo in Asia-Pacific. Under this partnership, DKSH will provide market expansion services for IOI Oleo's triglycerides, lipids, oils, fatty esters, hard fats, liquid solubilizers, and specialties, including brands like Dynasan and Imwitor.
By source, the Asia Pacific soap noodles market divided onto vegetable oil and tallow. The vegetable oil segment dominates the Asia Pacific soap noodles market growth during the forecast period. By process, the Asia Pacific soap noodles market includes key segments such as saponification production process and fatty acid route. Saponification process accounts for a large share and dominates the process segment in the Asia Pacific soap noodles market. On the basis of applications, the Asia Pacific l soap noodles market finds major applications in personal hygiene soap, multi-purpose soap, laundry soap, special purpose soap, and others. The personal hygiene soap segment accounted for high demand and dominated the market during the forecast period. The Asia Pacific soap noodles market is studied for region: China, Japan, India, and Rest of APAC. China is expected to hold the majority of shares followed by India and APAC.
| Market
Sizing for Year: | 2019-2029 |
| Base
Year: | 2022 |
| Forecast
Period: | 2023-2029 |
| Value: | USD million |
| Market
Segment studied: | Source Process Application |
| Market
Players and its Competitors: | Godrej (IN) Raj Industries (IN) Prakash Chemicals International Pvt. Ltd (IN) Deeno Group (China) Kerawalla Group (IN) Wilmar International Ltd. 2022 (Singapore) PT. Sinar Antjol (Indonesia) Jocil Limited (IN) KLK OLEO (Malaysia) Olivia Impex Pvt Ltd (IN) IOI Oleochemicals (Malaysia) Hasel Soap & Cosmetic (China) |
FREQUENTLY ASKED QUESTIONS
What are the segments in this report?
By Source, process, application and country.
Which is the leading source segment for Asia Pacific soap noodles market?
Vegetable oils accounted the major market share, and is expected to witness the growth at highest pace during the forecast period.
Who are the key players in the market?
Godrej, Raj Industries, Prakash Chemicals International Pvt. Ltd, Deeno Group, Kerawalla Group, Wilmar International Ltd., PT. Sinar Antjol, Jocil Limited, KLK OLEO, Olivia Impex Pvt Ltd, IOI Oleochemicals, Hasel Soap & Cosmetic, VVF Ltd.
