Soap Noodles Market to grow at 3% CAGR from 2019 to 2025

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Soap Noodles Market to surpass 1bn by 2025
Global Market Insights Inc.
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Industry Overview

• Soap Noodles Market to reach USD 1.14 billion by
  2025 driven by growing demand for bar soap from
  the Asia Pacific region. The soap noodles market
  will be driven by rapidly growing personal care
  industry. Soap noodles are widely used to produce
  toilet soap. Growing demand for personal hygiene
  and cosmetic products mainly from the developing
  region is projected to substantially contribute
  to the global market size.
• Personal hygiene soap lead the application
  segment in 2018 and shall continue leading by
  2025. The personal hygiene soaps constitutes the
  premium quality soap produced using soap noodles.
  These soaps contains high amount of palm and palm
  kernel oil and a high level of fatty matter
  composition. The growing demand for beauty and
  personal hygiene products across the globe along
  with the prevalence of excellent sales promotion
  schemes is anticipated to substantially
  contribute to soap noodles market growth during
  the forecast period. Laundry soap was the second
  largest segment in 2018 and was followed by the
  multi-purpose soap segment. Laundry soap held a
  market share of over 30 in 2018.

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• Growing shift towards the use of liquid soaps and
  gels mainly in the developed regions is projected
  to be the major market restraining factor in the
  coming years. The proficient soap manufacturers
  are seen to reduce innovation cost in their bar
  soap product segments and shifting their reliance
  into the liquid soap segments. This change in
  research and development expenditure is
  anticipated to be a major restraint of market
  growth.
• In terms of source, vegetable oil held the
  largest market share in the overall soap noodles
  market in 2018 and forecast to grow with a
  highest CAGR more than 3 during the assessment
  period. This can be attributed to the easy
  availability of palm and palm kernel in Malaysia
  and Indonesia. Thus, Asia Pacific is the largest
  producer and exporter of palm oil across the
  globe. Latin American and North American bar soap
  producers mainly depends on tallow to produce
  soap noodles.

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U.S. soap noodles market size, by source, 2014 -
2025 (USD Million)

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Industry Coverage

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• Asia Pacific soap noodles market is projected
  grow with a highest CAGR during the forecast
  timespan. China held the largest market share in
  2018 and shall witness gains over 3.5 CAGR.
  Increasing consumer disposable, improved living
  standards in the region coupled with easy raw
  materials availability are major factors
  positively affecting the growth of the market.
• Europe and North America are other prominent
  regions contributing to the soap noodles market
  size during the forecast period. The presence of
  major soap manufacturers coupled with growing
  demand for premium soaps in these regions
  accompanied with significant consumer demand for
  luxury soap brands such as Tom Ford, Czech
  Speake, Hermes, Miss Dior, etc will contribute in
  market demand. Moreover, Europe is one the
  largest importers of palm oil from Malaysia which
  in turn is used for the production of soap and
  biofuel. Germany, the UK, Italy and France are
  the major revenue generating countries in the
  European region.
• Soap noodles market is consolidated with the
  presence of many large and small-scale
  manufacturers. Some prominent players operating
  in the industry are Wilmar International, IOI
  Oleochemicals, KLK Oleo, Jocil Limited,
  EVYAP-OLEO, Timur Oleochemicals Malaysia, John
  Drury Co Ltd and M Bedforth Sons, Musim Mas
  Hodling Pte, Olivia Impex Private Limited and
  Rubia Industries Limited.

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