Soap Noodles Market share is driven by increasing soap demand during COVID-19

Soap Noodles Market share is driven by increasing soap demand during COVID-19

eTurboNews Syndication:

Selbyville, Delaware, United States, September 4 2020 (Wiredrelease) Global Market Insights, Inc –:Soap manufacturers have upped their efforts in purchasing the soap noodles and adding the pigments, flagrances, flavor and other components to have a competitive edge in the market. Use of soap noodles as the main ingredient in the production of soap bars is likely to be witnessed in the next few years.

A blend is said to be the 80/20 standard, containing 80% palm oil and 20% palm kernel oil or coconut oil. Besides, soaps with increasing level of diversity are hitting the shelves and will continue to present bullish picture of the soap noodles industry. In the latest research report, Global Market Insights, Inc., has projected soap noodles market size to expand $1.14bn by 2025.

Vegetable oil source segment in soap noodles industry is anticipated to witness substantial gains in the coming years owing to easy availability of palm oil and palm kernel oil in Asia pacific countries such as Indonesia and Malaysia. Asia Pacific is the largest manufacturer and exporter of palm oil and palm kernel oil around the world.

Given that soaps are an intrinsic need for the maintenance of proper hygiene, their elevating demand during COVID-19 health crisis is expected to boost the soap noodles market over the forecast period. The dreaded coronavirus has raised significant concerns amongst people which resulted into a dramatic rise in the soap demand.

According to Economic Times, India, it was observed that prolific rise in soaps had kept various companies on toes to fulfill the surging requirements. In this regard, a consumer health and hygiene brand- RB- which is highly acclaimed for its Dettol brand- was seen ramping up the soap production to meet sudden spike in demand post the coronavirus outbreak.

Despite stringent enforcement of lockdown in wake of the COVID-19 situation in March, the company kept working under all precautionary measures to step up its manufacturing activities, thus accelerating the demand for soap noodles. Given these efforts and initiatives around the clock during COVID-19 pandemic, the soap noodles market is set to enter a revolutionary phase in the upcoming years.  

Prevailing trends:

Production of palm oil at an unprecedented level, especially in Indonesia and Malaysia, is likely to set the trend in soap noodles space. It is worth noting that Malaysia is the number 2 producer of the palm oil after Indonesia. Reportedly, inventories of palm oil in Malaysia rose to over 2 mn tons in April. Notably, these two South East Asian countries are perceived as the largest sources of soap noodles based on palm oils.

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Given that soap noodles based on palm oil helps in providing high quality white soap and provides a consistent composition at the time of making soap, It is estimated that palm oil soap noodles as detergents will set the trend in the next few years.

Growth drivers:

Growing traction for bar detergents and laundry noodle soap will continue to fuel growth in the industry. Used as the main ingredient in the production of soap bars, soap noodles are being produced from the saponification of oil and neutralization of saponification and fatty acid of methyl ethers.

A slew of companies has started manufacturing eco-friendly laundry soaps as they vie to boost their product portfolios, thereby creating viable revenue growth opportunity for stakeholders.

Potential opportunities:

The consistent composition, tremendous detergency, high quality, ease of application, and bio-compatible nature of soap noodles have made them highly sought-after in industrial use, multi-purpose soaps, laundry soap and hygiene soap.

Growing preference of consumers towards cleanliness and hygiene will provide opportunities for manufacturers to expand their penetration and their consumer base.  

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Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.

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