Bath and Shower Products Market to Hit USD 63.16 Billion by 2028; Increasing Demand for Fragranced Bath Products to Stimulate Growth, Says Fortune Business Insights™
Top companies covered in bath and shower products market are Unilever (London, U.K.), Natura & Co. Holding S.A. (São Paulo, Brazil), Colgate Palmolive Co. (New York, U.S.), Beiersdorf AG (Hamburg, Germany), Procter & Gamble Co. (Ohio, U.S.), L’Occitane International S.A (Geneva, Switzerland), Lion Corporation (Tokyo, Japan), Henkel AG & Co. KG aA (Düsseldorf, Germany), Johnson & Johnson (New Jersey, U.S.), Reckitt Benckiser Group plc (Slough, U.K.), and more players profiled
The global bath and shower products market size is expected to gain traction by reaching USD 63.16 billion by 2028 while exhibiting a CAGR of 5.0% between 2021 and 2028. This information is published by Fortune Business Insights in its latest report, titled “Bath and Shower Products Market, 2021-2028.” The report further mentions that the market stood at USD 43.22 billion in 2020.
Factors such as the growing popularity of fragrant products and the increasing demand for organic bath products will favor the growth of the market in the forthcoming years.
Market Exhibited a Growth Rate of 4.6% in 2020 amid Global Pandemic; Stockpiling and Huge Demand for Personal Care Surge Demand
The COVID-19 pandemic has brought forth personal cleaning and hygiene to prominence. This had led to a huge demand for organic personal care products. Moreover, a fear of further lockdown and closure of stores led to people stockpiling commodities. These factors have had a positive effect on the market that can be witnessed due to it exhibiting a positive growth rate of 4.6% in 2020. For instance, Henkel increased its soap supply output by nearly 30% in the first quarter (Q1) of 2020.
List of the Companies Profiled in the Global Bath and Shower Products Market:
- Unilever (London, U.K.)
- Natura & Co. Holding S.A. (São Paulo, Brazil)
- Colgate Palmolive Co. (New York, U.S.)
- Beiersdorf AG (Hamburg, Germany)
- Procter & Gamble Co. (Ohio, U.S.)
- L’Occitane International S.A (Geneva, Switzerland)
- Lion Corporation (Tokyo, Japan)
- Henkel AG & Co. KG aA (Düsseldorf, Germany)
- Johnson & Johnson (New Jersey, U.S.)
- Reckitt Benckiser Group plc (Slough, U.K.)
What does the Report Include?
The market report includes qualitative and quantitative analysis of several factors such as the key drivers and restraints that will impact growth. Additionally, the report provides insights into the regional analysis that covers different regions, contributing to the growth of the market. It includes the competitive landscape that involves the leading companies and the adoption of strategies to announce partnerships, introduce new products, and collaborate to further contribute to the growth of the market between 2021 and 2028.
Moreover, the research analyst has adopted several research methodologies to extract information about the current trends and industry developments that will drive the market growth during the forecast period.
High Demand for Fragranced Bath and Shower Products to Augment Growth
The increasing awareness regarding cleanliness and personal hygiene that has surged due to the global pandemic present a lucrative opportunity for the companies to develop innovative bath products. The high demand for scented shower products such as creams, gels, scrubs, aromatic oils, and others are further expected to bode well for the product’s demand worldwide. Besides, the surging demand for baby care products is propelling the manufacturers to use safer and organic ingredients that is anticipated to contribute to the global market growth in the forthcoming years.
Asia-Pacific – The region stood at USD 15.99 billion in 2020 and is expected to remain at the forefront in the global market for bath and shower products during the forecast period. This is attributable to the presence of a large young population in countries such as China, India, and Japan in the region. For instance, according to the data by the Food and Agriculture Organization (FAO) 2020, the median age of the Asian population is estimated to be 28 while that of North America is 38, and Europe is 42.
North America – The market in the region is expected to showcase significant growth backed by the presence of high-income groups in countries such as the U.S. that are propelling the demand for premium bath and shower products in the region between 2021 and 2028.
Based on the product type, the market is segmented into bath soaps, body wash/shower gel, and bath additives.
On the basis of product type, the bath soaps segment is expected to hold the largest global bath and shower products market share in terms of revenue during the forecast period. This is owing to the affordability of the soaps that make it widely popular among consumers globally. The segment held a share of 39.49% in the market in 2020.
Based on form, the market is trifurcated into, solid, gels & jellies, and liquid. On the basis of the end-user, the market is bifurcated into men and women. Moreover, based on the distribution channel, Remote Control Car the market is segregated into hypermarket/supermarket, convenience stores, online channels, and others. Lastly, based on region, the market is classified into North America, Europe, Asia-Pacific, South America, and the Middle East and Africa.
Product Launches by Eminent Companies to Brighten Their Market Prospects
The global market for bath and shower products comprises small, medium, and large companies striving to maintain their presence by developing innovative personal care products to cater to the growing demand from consumers worldwide. Moreover, other key players are adopting strategies such as merger and acquisition, partnership, and facility expansion that will contribute to the growth of the market during the forecast period.
Detailed Table of Content:
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Emerging Trends