Soap & Cleaning Compound Manufacturing in the US - Industry Market Research Report

Soap & Cleaning Compound Manufacturing in the US - Industry Market Research Report

  • May 2020 •
  • 38 pages •
  • Report ID: 198406 •
  • Format: PDF
Lathering up: High disposable income is expected to push consumers toward high-cost, brand name soaps

Abstract

Soap & Cleaning Compound Manufacturing in the US
Over the past five years, the Soap and Cleaning Compound Manufacturing industry contended with steep competition from foreign-based soap manufacturers. Foreign manufacturers benefit from lower wage and operating expenses abroad and, as a result, have inundated the market with competitively priced soap products. In response, domestic soap and cleaning compound manufacturers have advertised ecofriendly products to appeal to environmentally conscious consumers, which has helped buoy demand. In addition, the production costs have gone up leading to a decline in industry profit and revenue. As a result, revenue is anticipated to decrease over the five years to 2019. Over the past five years, global demand for industry products experienced the largest growth in emerging markets, particularly in the Asia Pacific region, which prompted many multinational companies to expand or relocate their operations abroad. However, domestic growth in the number of small- to medium-sized enterprises offset any large corporations relocating facilities to emerging markets. Over the five years to 2024, the increase in unemployment rate will lead to consumers to slowly shift toward less-costly brand name soaps and cleaning products. Rising demand from downstream markets, such as restaurants, hotels and other accommodation industries, will require more cleaning products to comply with regulations and maintain cleanliness in line with the rise in consumer foot traffic.

This industry produces substances that loosen and remove soil from a surface for personal hygiene, sanitization or cleaning clothes, linens and furnishings. The industry does not include manufacturers of synthetic glycerin, industrial bleaches or shampoos.

This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.
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