Soap noodles refer to base soaps that are used primarily while manufacturing soap bars. Soap noodles are produced by creating a reaction between sodium hydroxide and fatty acids. Vegetable oils, including palm oil, olive oil, coconut oil, and animal fats are some of the key raw materials used in the production of soap noodles. The global soap noodles market is expected to witness robust growth in the next few years, thanks to the increasing awareness among consumers regarding self-hygiene and cleanliness.
Browse the full Global Soap Noodles Market Report: http://www.mrrse.com/soap-noodles-market
According to a research study by Transparency Market Research (TMR), in 2015, the global soap noodles market was valued at US$2.5 bn and is projected to reach a value of US$3.2 bn by the end of 2024. The market is estimated to register a 2.70% CAGR between 2016 and 2024.
Rise in Promotional Activities by Leading Players to Encourage Market Growth
The introduction of several government initiatives to create awareness regarding a healthy lifestyle, cleanliness, and hygiene has supported the global soap noodles market. In addition, a substantial rise in marketing and promotional activities for different kinds of bar soaps is expected to augment the market in the next few years. On the other hand, the growing demand for body washes, hand liquid soaps, and shower gels is projected to curtail the growth of the overall market. Nevertheless, recent development in new variety of soap bars, including moisturizing soaps, herbal soaps, and aromatherapy soaps is anticipated to generate promising opportunities for key players operating in the market.
On the basis of type of source, the global soap noodles market can be classified into tallow and vegetable oil. Among these, the vegetable oil segment is projected to lead the market in the next few years. This segment is likely to account for a share of 60% in the global market in 2024, exhibiting a 2.90% CAGR between 2016 and 2024.
Global Soap Noodles Market: Rising Population to Accelerate Growth
From a geographical perspective, in 2015, Asia Pacific led the global soap noodles market and is estimated to remain in the topmost position in the coming years. The robust growth of this region can be attributed to the rapidly rising population and an improvement in the standards of living. In this region, China, Japan, and India are estimated to contribute extensively toward the growth of the overall market in the near future. Europe and North America are expected to follow Asia Pacific with significant growth through 2024.
Browse the full Press Release of Global Soap Noodles Market at : http://www.mrrse.com/global-soap-noodles-market
The soap noodles market across the globe is extremely fragmented in nature and is expected to witness intense competition in the next few years. Key players in the market are focusing on mergers and acquisitions and strategic collaborations in order to increase their market presence and strengthen their position. Some of the prominent players operating in the global soap noodles market are Wilmar International Ltd., Permata Hijau Group, Musim Mas Holdings, VVF Limited, John Drury, IOI Oleochemicals, Deeno Group, Adimulia Sarimas Indonesia, KLK OLEO, and 3F Industries Ltd.