Soap Noodles Market Size – USD 920.1 Million in 2018, CAGR of 3.1%, Soap Noodles Trends – The increasing demand for special purpose soaps.

NEW YORK CITY, NEW YORK, UNITED STATES, March 3, 2020 /EINPresswire.com/ -- The Global Soap noodles market is forecast to reach USD 1,218.3 Million by 2027, 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.

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.

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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.

Further key findings from the report suggest
• The Soap noodles market held a market share of USD 1 Million in the year 2018 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 2018, 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 2018. 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 2018, 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 2027. 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 2018, 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.
• 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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Segments covered in the report:
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; 2016-2027)
• Vegetable Oil
• Tallow

Process Outlook (Volume, Kilo Tons; Revenue, USD Million; 2016-2027)
• Saponification production process
• Fatty acid route

End-User Outlook (Volume, Kilo Tons; Revenue, USD Million; 2016-2027)
• Household use
• Industrial use
• Other

Application Outlook (Volume, Kilo Tons; Revenue, USD Million; 2016-2027)
• Personal hygiene soap
• Multi-purpose soap
• Laundry soap
• Special purpose soap
• Others

To identify the key trends in the industry, click on the link below: https://www.reportsanddata.com/report-detail/soap-noodles-market

Regional Outlook (Volume Kilo Tons, Revenue, USD Million; 2019-2026)
• North America
o U.S
o Canada
• Europe
o Germany
o France
o UK
o Spain
o Rest of Europe
• Asia Pacific
o China
o India
o Japan
o Rest of Asia-Pacific
• Middle East & Africa
• Latin America
o Brazil
o Rest of Latin America


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