Increasing Awareness About Personal Hygiene In Rural Areas Is Driving The Soap Market In India
According to a new Research on Global Markets report, the soap market in India is expected to witness considerable expansion during the forecasted period (2018-2023), owing to growing awareness about sanitation, and increasing disposable income in rural India. Soap manufacturing industry is one of the oldest industries operating in the FMCG sector in India, and accounts for more than 50% of the consumer goods sector. The soap and detergent industry in India encompasses laundry and toilet soaps, as well as synthetic detergents in the form of liquid, powder, and bar.
According to the report, the soap market in India is segmented based on brands (Lux, Dove, Pears, Santoor, etc.), category (beauty soaps, health soaps, and others), and players operating in the market (Hindustan Unilever, ITC, Wipro, and others). During FY 2017, based on category, the beauty soaps segment held a market share of 50%, followed by the health soaps segment. Herbal soap emerged as the fastest growing category in the soap market in India. Margo and Medimix dominate the herbal and medicinal soap segment. Government initiatives like Swachh Bharat Mission, which promotes health and hygiene, has led to the growth of this segment.
According to Research on Global Markets, increased internet penetration is a significant growth driver. With the help of internet, rural consumers are exploring the market and availing offers online. Growing awareness about the hygienic standards, and increasing disposable income in rural India are also driving the growth of the soap market in India.
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With rural areas being the key market for soap manufacturers in India, soaps in different sizes and ranges, targeting consumers from low-income groups, are introduced frequently, according to Research on Global Markets. Currently, there are around 5 Mn retail outlets in India which sell soaps, out of which 3.75 Mn operate in rural areas.
Key highlights of this report:
- India soap market size and growth forecast - value-wise (FY 2016 – FY 2023e)
- Product-wise segmentation (FY 2017)
- Category-wise segmentation (FY 2017)
- Player-wise segmentation (FY 2017)
- Rural vs urban consumption segmentation (FY 2017)
- Qualitative analysis of the drivers and challenges affecting the market
- Analysis of the competitive landscape and profiles of the major players operating in the market
- Analysis of the key market trends
- Porter’s five forces analysis
This report has been formulated and designed with the purpose of giving businesses a concise understanding of the demand for soaps and detergents in India to determine the viability of the market, develop strategies based on the drivers, and help brands identify competition and respond accordingly.