Soap Dispenser Market to Surpass USD2139.68 Million by 2026
Rising awareness towards hygiene, changing lifestyle and
rapid urbanization to fuel the global soap dispenser market through 2026.
According to TechSci Research report “Soap Dispenser Market - Global Industry Size, Share, Trends, Competition
Opportunity and Forecast, 2016-2026”, global soap dispenser market
was valued USD1478.90 million in 2020 and is anticipated to grow at a CAGR of 6.45%
in value terms, in the next five years to reach USD2139.68 million by 2026. The
growth in the market is driven by rising usage of hand sanitizer in the commercial
sector and growing awareness pertaining to cleanliness and hygiene among
consumers.
In addition, growing
disposable income and increasing prevalence of infectious and communicable diseases
such as COVID-19, Ebola, etc. around the world coupled with rising concern
pertaining to hand hygiene are driving the market.
Rising per capita
disposable income, especially in developing countries such as China, Brazil,
and India, has led to an increased consumption and consumer spending on
lifestyle and luxury products. Thus, an increasing number of consumers nowadays
are not compromising with the product quality irrespective of its cost. Such
consumer behavior on account of rising disposable income is positively
influencing the global soap dispenser market.
Moreover, rising
disposable income levels have increased the purchasing power of consumers,
which has resulted in an improved standard of living. Consumers are opting for
convenient products for usage, which is further fueling the demand for soap
dispensers.
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Global soap dispenser market can be segmented based
on type, product type, capacity, soap type, end user, distribution channel, company
and region. In terms of product type, the market can be segregated into manual
and automatic. Out of these, manual segment dominated the market in 2020 with
share of 60% and the segment is forecast to continue dominance through 2026.
However, automatic segment is anticipated to grow
at the highest CAGR of 7.66% through 2026 as they contain sensing device which
provides hands-free usage, ensuring less contact with germs and bacteria while
using the soap dispenser. Due to these reasons, automatic dispensers are highly
being installed at public places like restrooms, airports and hospitals.
Regionally, Asia-Pacific region is projected to
advance with the fastest growth in the global soap dispenser market, with a
CAGR of 7.33% through 2026, on account of growing middle-class population,
lifestyle upgradation, rising working-class population, and increasing
purchasing power of the consumers. Another major factor contributing to the
growth of soap dispensers is the growing concern to prevent infections, which
is expected to continue to boost the market at a higher pace.
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Some
of the major players operating globally in the soap dispenser market are Georgia-Pacific
LLC (GP PRO (Georgia-Pacific Professional)), American Specialties, Inc.,
Bobrick Washroom Equipment, Inc., Shenzhen SVAVO Intelligent Technology
Co.,Ltd, Orchids International, Kutol Products Company, Bradley Corporation,
Simplehuman, LLC, Kohler Co., Umbra LLC, etc. The
market for soap dispensers is fragmented in nature with no major players
occupying a significant share.
Companies are using innovative
strategies such as improved packaging and product quality to increase their
share in the market. For instance, in 2021, Amazon launched a smart soap
dispenser in the United States which has an integrated 20-second LED timer and
an option to pair with a compatible echo device. Similarly, in June 2020,
Grafdoer launched automatic soap/sanitizer dispensers for hands-free
accessibility which enabled a simple-to-operate mechanism.
“The
e-commerce sales channel is expected to exhibit the fastest growth among other
distribution channels in the global soap dispenser market. The segment is
projected to grow with a CAGR of 7.45% in the forecast period. The rapid growth
of online retail, especially in the post COVID-19 era has made companies
rethink their distribution strategy. Moreover, the online retail market offers
an attractive option for companies due to low operating costs. Moreover, the
advent of online channels has allowed consumers to easily check out and compare
a wide range of products on a single platform without having to spend a lot of
time in stores.”, said Mr. Karan Chechi, Research Director with TechSci
Research, a research based global management consulting firm.
“Soap Dispenser Market - Global Industry Size, Share,
Trends, Competition, Opportunity and Forecast, 2016-2026 Segmented By Type (Wall-Mounted
and Counter-Mounted), By Product Type (Manual and Automatic), By Capacity
(Below 250 ml, 250ml to 500 ml and Above 500ml), By Soap Type (Foam Soap and
Liquid Soap), By End User (Commercial, Residential and Others), By Distribution
Channel (Offline and Online), By Region”, has evaluated the
future growth potential of global soap dispenser market and provides statistics
& information on market size, structure, and future market growth. The
report intends to provide cutting-edge market intelligence and help decision
makers take sound investment decisions. Besides, the report also identifies and
analyzes the emerging trends along with essential drivers, challenges, and
opportunities in the global soap dispenser market.
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