PUBLISHER: Mordor Intelligence | PRODUCT CODE: 1683464
PUBLISHER: Mordor Intelligence | PRODUCT CODE: 1683464
The North America Liquid Hand Soap Market is expected to register a CAGR of 3.5% during the forecast period.
The COVID-19 pandemic has made a significant impact on the liquid hand soap market growth in the North American marketplace. Further, increased coronavirus positive cases have raised the adoption of safety trends in home, office, and other public places, which, in turn, is likely to boost product demand. Moreover, sighting the rising demand for liquid hand soap and other hand hygiene products, market players are rapidly investing in introducing liquid hand wash solutions. For instance, owing to the increased demand for liquid hand soaps and other hand hygiene products during the COVID-19, in Sept 2020, Henkel invested 23 million in order to increase the production of antibacterial liquid hand soap and hand sanitizer products in Geneva, New York facility.
The North American liquid hand soap has witnessed a shift in consumer preference toward hand hygiene products, such as liquid hand soap. In addition, the increasing demand for health and wellness products, owing to the rise in communicable diseases, has increased the demand for hand hygiene products.
Liquid hand soaps have largely preferred over the normal hand soap as consumers perceive it to be more effective and convenient to use, hence propelling the market growth.
The demand for personal hygiene, especially hand hygiene products, is expected to rise further in the coming days due to the growing awareness among consumers in the wake of the COVID-19 pandemic. People have become more conscious about cleanliness, hygiene, and keeping themselves and their environment germ-free.
As a result, according to the United States Centers for Disease Control and Prevention survey, during the pandemic, the US adults were more likely to remember to wash their hands after coughing, sneezing, or blowing their noses as compared to a similar survey in 2019. Thus, such survey results indicate fruitful market growth during the forecast period.
In support of the rising awareness regarding hand hygiene, government bodies across the region have taken various initiatives in order to reduce the diseases which may get in with human hand touch. For instance, the government of the United States launched a new global initiative called 'Hand Hygiene for All' in partnership with the United Nations International Children's Emergency Fund (UNICEF) and the World Health Organization (WHO).
The United States market witnessed significant growth, owing to the increasing need to maintain hand hygiene and the rising consumer expenditure on healthcare. Furthermore, the awareness spread through social media and online channels by the government organizations regarding clean and healthy lifestyles drives the market growth. In 2016, the Food and Drug Administration (FDA) agency of the United States outlined criteria for soaps with banning the usage of triclosan, triclocarban, and 17 other antiseptics owing to concerns pertaining to its traces entering urine and breast milk. Such favorable initiatives from government authorities are further influencing the adoption of organic elements in liquid hand soaps. Owing to these factors, liquid soap manufacturers have established product innovation as a key strategy and are introducing natural ingredients-based products. Owing to these factors, liquid soap manufacturers have established product innovation as a key strategy and are introducing natural ingredients-based products. For instance, in 2020, Frenchsoaps launched a new antibacterial liquid soap with plant-based ingredients to maintain the hands' moisture content. Similarly, liquid hand soap providers such as OleyHemp, Oregon Soap Company, and others also offer natural ingredient-based liquid hand soap.
With a huge presence and wide distribution network in the region, key players, like Colgate-Palmolive Company, Henkel AG & Co. KGaA, and SC Johnson & Son Inc., dominate the North American liquid hand soap market. Moreover, the market studied is competitive in nature, as it consists of many public and private players. The companies offer diversified product portfolios, which include factors such as different scented liquid hand soaps, animal-free tested products, paraben-free products, and an infusion of plant-based ingredients.
Companies have invested heavily in their R&D sectors to launch innovative products in the market and tap into the ongoing interest of the consumers in sustainable liquid hand soaps in North America.