July 2020, Market Research Future has published a Research Report on the Global Soap Dispenser Market.
In 2019, the Global Soap Dispenser Market was valued at USD 3.15 Billion and is expected to grow at a CAGR of 9.1% between 2020 and 2027. The demand for soap dispensers has increased in the last few years globally. Increasing awareness for hand hygiene etiquette owing to the increasing prevalence of infectious diseases across the globe has been a major factor driving the rising demand for soap dispensers worldwide. Additionally, the practicality of soap dispensers in commercial areas in terms of convenience and cleanliness compared to soap bars have further made soap dispensers popular across the globe. Furthermore, the outbreak of a global pandemic, COVID-19, has led to the surging demand for soap dispensers. Since the beginning of 2020, consumers across the globe are largely considering upgrading their hand hygiene products from soap bars to soap dispensers. The sales of smart soap dispensers or electronic dispensers have surged recently.
The on-going threat of transmission of COVID-19 has been a major factor driving its sales. Considering it to be of more of a cleaner option compared to bar soaps, the sales of smart or electronic soap dispensers are anticipated to increase in the next couple of years. Furthermore, to leverage the market opportunity, many startups are coming up with innovative technologies during the COVID-19 period and post lockdown. For instance, Tech Plaastic Industrie Pvt Ltd, which makes the injection and thermoset injection molded components for various industries, including automotive, has developed a hands-free sanitizer dispensing machine. Similarly, a China-based soap dispenser manufacturing company, Hokwang Industries Co., Ltd., introduced a hands-free soap dispenser. Therefore, with the outburst of the global pandemic, COVID-19, the soap dispenser market is anticipated to create significant growth opportunities in the next couple of years.
Increasing awareness regarding hand hygiene owing to the sharp rise in global pandemics such as COVID-19.
Growth Opportunities in the Market
Preference for wall mounted dispensers: The wall-mounted dispenser segment dominated the global soap dispenser market in 2019 and is expected to maintain its position in the market during the forecast period. Wall-mounted dispensers are the most common type of dispensers. Easy product availability and affordability are some of the prime factors behind the dominance of wall mounted soap dispensers. Counter mounted soap dispenser is relatively modern technology and are commonly used in commercial applications.
Rising demand for automatic soap dispensers: Manually operated soap dispensers dominated the global soap dispenser market in 2019. However, with the rising threat of transmission of a novel coronavirus, the demand for a hands-free and automatic soap dispenser market is anticipated to grow during the forecast period. Especially for commercial usage, the automatic soap dispensers’ segment is anticipated to increase in the next couple of years.
Domination of soap dispenses in the commercial segment: The commercial segment dominated the global soap dispenser market in 2019 due to the wide use of soap dispensers in commercial spaces compared to the residential segment. High practicality of soap dispensers in commercial segments such as HoReCa, schools & universities, airports, and many other places compared to soap bars make them the more convenient option.
Easy Availability of Soap dispensers in Store-Based Distribution Channels: The easy accessibility of soap dispensers in store-based distribution channels is driving the growth of the segment in the global market. Additionally, the increasing number of store-based channels for sale and purchase of soap dispensers worldwide, such as supermarkets & hypermarkets, convenience stores, and vendors as well as several other local stores, have resulted in the dominance of store-based distribution channels. During the COVID-19 pandemic, many local vendors are coming up with innovative automatic and hands-free soap dispensers. Several companies are opting for online distribution platforms to extend their consumer reach.