Soap Noodles Market Research Report - Forecast to 2029 (Includes Business Impact of COVID-19)

                                          
Abstract, Snapshot, Market Analysis & Market Definition: Soap Noodles Market 
Industry / Sector Trends

Soap Noodles Market size valued at USD 920 million in 2018 and will witness around 3% CAGR from 2019 to 2025.

U.S. soap noodles market size, by source, 2014 - 2025 (USD Million)

Soap noodles are either tallow (animal fat) or vegetable oil derivatives such as palm oil, olive oil, coconut oil, and palm kernel oil, that are extensively used as a raw material bar soap production. These soap noodles are found in various combinations in the market and are widely employed for manufacturing of all kinds of bar soaps. The typical blend of 80:20 palm oil and palm kernel oil soap noodles are considered to be optimal grade for the manufacturing of high quality personal hygiene soap bars. Soap noodles are manufactured using two processes namely saponification and fatty acid route. The saponification process has been the most used manufacturing technique in 2018 and is expected to exhibit the same trend throughout the assessment period. Saponification technique is less expensive as compared to the fatty acid process and is widely accepted in the developing economies across the globe.

Vegetable oil segment was the largest segment in 2018 and is anticipated to continue leading throughout the given period due to its ability to provide lather. Asia Pacific is highly dependent on vegetable oil for soap noodle production whereas, North American and Latin American region uses tallow for the manufacturing of soap noodles. According to Malaysia Palm Oil Board (MPOB), Malaysias palm oil plantation area reached 5.85 million hectares in 2018 which showed an increase of 0.7% since the previous year. Moreover, the MPOB also states that Malaysian export of oil palm products in 2018 accounted for over 24 million tons that showed a 3.8% rise from the previous year. Thus, dynamics shall subsequently boost the soap noodles market size as Malaysia is one of the major suppliers of soap noodle feedstock.

Growing liquid soap and gels penetration across the globe is anticipated to be a major downside to soap noodles market size. Soap noodles are used in soap bars production. Therefore, growing demand for liquid soaps can negatively affect the market demand during the assessment period. Moreover, with the increasing shift in preference towards liquid gels the major manufacturers are seen to reduce the R&D expenditure for the innovation of soap bars and concentrating more on liquid soaps and gels. This restraint can only be seen in the developed countries in the recent times. However, comparatively high cost associated with liquid soaps and gels, makes bar soaps a cost-efficient option amongst major consumer base of middle-class population in Asia Pacific and other developing regions.

Market Segmentation, Outlook & Regional Insights: Soap Noodles Market

Soap Noodles Market, By Source

The global soap noodles market by source has been segmented into vegetable oil and tallow. Vegetable oil segment, comprised majorly by palm oil and palm kernel, held the largest share in 2018. Developing countries in Asia Pacific region are highly dependent on palm oil for soap noodle production. The presence of the significant palm oil manufacturing countries in the region namely Indonesia and Malaysia have made easier feedstock availability, which is the major factor attributing industry growth. Additionally, countries such as China and Japan also use animal fat for soap noodles production in the region. Tallow is a common source to produce soap mainly in North and Latin American countries. The abundant availability of tallow at a low cost in these regions is fuelling segment growth.

Soap Noodles Market, By Process

Saponification production process accounted for more than 50% share in soap noodles market in 2018. Saponification process involves the conversion of oil or fat into soap noodles in the presence of an aqueous alkali. This process is highly preferred over fatty acid route owing to its operational ease and inexpensive nature. Soap noodles produced from this process are associated with good perfume retention and excellent combination of oils. Asia Pacific is one of the major regions adopting the oil saponification route in 2018 and is anticipated to show the same trend throughout the given period.

Soap Noodles Market, By Application

China Soap Noodles Market Size, By Application, 2014 - 2025 (USD Million)

Personal hygiene soap was the largest and fastest growing application segment in the global soap noodles market in 2018 and is projected follow the same trend throughout the assessment period. High quality toilet soaps are often manufactured using soap noodles with a total fatty matter (TFM) of over 75%. The growing awareness of personal hygiene in the developing regions coupled with the increasing government expenditure for the developing retail sector are considered to be some of the major factors propelling the demand for soap noodles across the globe. China and India are projected to be the major countries attributing to the growth of the overall market size throughout the review period. Personal hygiene segment is anticipated to grow at a CAGR of over 3% throughout the forecast period.

Soap Noodles Market, By Region

Asia Pacific region was the major revenue pocket in 2018 and is set to exhibit the same trend throughout the review period. The growing population in the region has seen as surge in the demand for personal hygiene and laundry soap bars thereby positively contributing to the growth of the soap noodles market. Furthermore, easy availability of vegetable oil in the region coupled with the increasing palm production is projected to further add to the market growth.

Malaysia and Indonesia are the major raw material manufacturer in the region, whereas China and India are largest revenue generating economies in the region. The soap noodles market in china held a market share of over 28% in 2018 and is projected to grow at a CAGR of over 3.5% during the assessment period. Additionally, the growing investment in the retail sector development has made the availability of consumer goods easier in the recent years which shall further boost the demand for soap noodles during the forecast period. According to the India Brand Equity Foundation, India is the worlds fifth largest destination in the retail space and the retail market in India is projected to grow from an estimated over USD 795 billion in 2017 to USD 1,250 billion by the end of 2025.

Key Players, Recent Developments & Sector Viewpoints: Soap Noodles Market

Soap noodles market is highly diversified with a presence of large number of small and big scale  manufacturers across the globe. The proficient manufacturers operating in the market includes Ioi Oleochemicals, Wilmar International, Jocil Limited, KLK Oleo, Timur Oleochemicals Malaysia, EVYAP-OLEO, Musim Mas Hodling Pte, John Drury & Co Ltd and M Bedforth & Sons, Rubia Industries Limited, and Olivia Impex Private Limited. These major players operating in soap noodles market are adopting various organic and inorganic growth strategies to increase their foothold in the market. For instance, IOI corporation Berhad acquired  the oleochemical business of CREMER OLEO GmbH & Co. KG based in Germany. This acquisition was in line with their strategy to further enhance their production capacity and their position in European soap noodles market.

Industry Viewpoint

Soap noodles market is highly forward integrated market. The large scale manufacturers exist in the entire value chain from raw material manufacturing to finished products. Some of the manufacturers produce soap noodles for captive consumption as well as for sale in the market. The market is subjected to various ups and downs owing to the changing palm oil production scenarios which consequently define the raw material prices. With major countries depending on vegetable oil sources, the changing palm oil price has major impact in the global market

Key Insights Covered: Exhaustive Soap Noodles Market
1. Market size (sales, revenue and growth rate) of Soap Noodles industry.
2. Global major manufacturers operating situation (sales, revenue, growth rate and gross margin) of Soap Noodles industry.
3. SWOT analysis, New Project Investment Feasibility Analysis, Upstream raw materials and manufacturing equipment & Industry chain analysis of Soap Noodles industry.
4. Market size (sales, revenue) forecast by regions and countries from 2019 to 2025 of Soap Noodles industry.

Research Methodology: Soap Noodles Market

  
Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analyzed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please Request a Sample Report.
  
Demand Side Primary Contributors: OEMs, Industrial Professionals, Researches, Suppliers and Distributors, Group Purchasing Organizations, Associations, Insurers, Universities, Technological Writers, Scientists, Promoters, Investors among others.
  
Supply Side Primary Contributors: Product Managers, Marketing Managers, C-Level Executives, Distributors, Market Intelligence, Regulatory Affairs Managers among others.