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Soap Noodles Market Size To Reach USD 1,250.1 Million By 2028 With CAGR 3.1% | Reports And Data

Reports And Data

Reports And Data

The rising awareness about the importance of hygiene in developing regions, expansion of the textile industry, and associated elevated demand for soap noodles

NEW YORK CITY, NEW YORK, UNITED STATES, November 10, 2021 /EINPresswire.com/ -- 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. It is used in various types of soaps like toilet soap, multipurpose products, and laundry soaps.

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The rising awareness about the importance of hygiene and expansion of various industries like the textile industry & hospitality sector are some of the mentionable factors supporting the growth of the market. Demand for vegan soaps is also a mentionable factor, which is positively impacting the growth of the market. Another market trend, which is having a positive impact on the market is the increasing popularity of handmade soaps. The availability of these fatty acids in various online stores are also propelling the market growth.
In regards to region, North America can be seen to occupy a significant portion of the market. The market share occupied by the region is attributed to the growth of the chemical industry and the expansion of the hospitality sector.

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.

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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.
• While discussing Application, it is mentioned here that, special purpose soap segment is projected to witness a significant growth rate of 6.2% during the forecast period, and is forecasted to hold 10.5% of the market share by 2028. The growth rate witnessed by the special purpose soap segment is due to the growing popularity of aromatherapy soaps and herbal soaps.
• 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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For the purpose of this report, Reports and Data have segmented the global Soap Noodles market according to Source, Process, End-user, Application, and Region:

Source Type Outlook (Volume, Kilo Tons; Revenue, USD Million; 2018-2028)
• Vegetable Oil
• Tallow
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

Key Features of the Soap Noodles Market Report:
• Detailed assessment and exhaustive understanding of the Soap Noodles Market
• Significant insights into manufacturing processes, major barriers, and risks
• 8-year forecast estimation to offer information about the market size and market share on the global and regional levels
• Evaluation of the key drivers, restraints, growth opportunities, threats, limitations, barriers, and other key elements
• Identification of growth prospects and potential for the Soap Noodles industry
• Comprehensive analysis of the key market players and their strategies

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