The global soap noodles market is immensely
fragmented and characterized by the presence of a number of players.
Transparency Market Research finds that in 2015, the top 10 companies
competing in the soap noodles market accounted for a share of just
over 46%, indicating the lack of a clear leader. These companies are
Permata Hijau Group, KLK OLEO, 3F INDUSTRIES LTD., Deeno Group,
Adimulia Sarimas Indonesia, IOI Oleochemicals, Wilmar International
Ltd., John Drury, Musim Mas Holdings, and VVF Limited.
Browse Market Research Report @
“Larger companies in developing regions such as
Asia Pacific, Latin America, and the Middle East enjoy the majority
in the soap noodles market and smaller players pose a minimal
threat,” the author of the TMR study observes.
One of the prominent strategies adopted by several
players in the soap noodles market is geographical expansion.
Acquisitions and collaborations in recent years have also
strengthened the positioning of a number of players. Singapore-based
Musim Mas Holdings, a leading competitor in the soap noodles market,
entered into a collaboration with Genting Plantations Group in March
2015 to set up a palm oil refinery in Malaysia. This move helped the
company expand its capacity in the region.
Sales Promotions an Excellent Strategy to Spur
Demand for Soaps and Soap Noodles
The demand for soap noodles is indirectly impacted by
the aggressive sales promotions and marketing activities by
companies. “Sales promotions result in purchase acceleration since
consumers tend to buy larger quantities of a product when offered
promotional sales and discounts,” states a TMR analyst. The growing
sales of soap have therefore led to the rising demand for soap
noodles. Unilever and P&G are excellent examples of companies
that have successfully managed to boost sales with marketing
strategies and promotional activities.
Fill the form for an exclusive sample of this
report @
TMR identifies a major opportunity in the growing
developing of soap bars with functional features and offerings, such
as herbal soaps, moisturizing soaps, aromatherapy soaps, and
anti-bacterial soaps. “The demand for such functional soap bars is
relatively high in developed countries where the awareness regarding
natural products in the personal care market is greater,” the
author finds.
Soap Bar Substitutes Threaten Growth of Soap
Noodles Market
The threat from substitutes of soap bars has been
growing over the years, acting as a major deterrent to the growth of
the soap noodles market. “Companies manufacturing body washes,
liquid hand washes, and shower gels have sprung in almost every part
of the world and changing lifestyles and rising disposable income of
the consumers have resulted in the increasing demand for these
substitutes,” the analyst states. This is likely to result in a
decline in demand for soap noodles.
The only saving grace, TMR observes, is that the
substitutes of soap bars are highly priced and this could curb the
demand for the same.
TMR Predicts Tepid Rise in Demand for Soap Noodles
By revenue, the global soap noodles market is
anticipated to rise from a value of US$2.5 bn in 2015 to reach US$3.2
bn by 2024. The market is projected to expand at a modest CAGR of
2.7% during the forecast period. The demand for soap noodles is
poised to rise at a 2.1% CAGR from 2016 to 2024. By type of source,
the soap noodles market is led by vegetable oil and this segment is
likely to account for a volume share of 60% by 2024. Also emerging as
the fastest growing segment during the forecast period, the market
for vegetable-oil based soap noodles will rise at a 2.9% CAGR by
revenue.
Get Request For Discount On This Report @
Asia Pacific is the chief contributor in the global
soap noodles market by region and is projected to account for nearly
half the market by 2024 in terms of volume. Asia Pacific is also
projected to emerge as the most rapidly expanding regional market for
soap noodles by the end of the forecast period.
This review is based on the findings of a TMR report
titled “Soap Noodles Market -Global Industry Analysis, Size, Share,
Growth, Trends, and Forecast 2016 - 2024.”
Soap Noodles Market, by Source
- Vegetable Oil
- Tallow
About
Us
Transparency Market Research (TMR) is a global market intelligence
company providing business information reports and services. The
company’s exclusive blend of quantitative forecasting and trend
analysis provides forward-looking insight for thousands of decision
makers. TMR’s experienced team of analysts, researchers, and
consultants use proprietary data sources and various tools and
techniques to gather and analyze information.
TMR’s data repository is continuously updated and revised by a team
of research experts so that it always reflects the latest trends and
information. With extensive research and analysis capabilities,
Transparency Market Research employs rigorous primary and secondary
research techniques to develop distinctive data sets and research
material for business reports.
Contact Us
Transparency Market Research
90 State Street, Suite 700
Albany, NY 12207
Tel: +1-518-618-1030
USA - Canada Toll Free: 866-552-3453
No comments:
Post a Comment