The soap colorant market is expected to grow at a CAGR of 5.5% during the forecast period 2017–2023 owing to high demand growth from emerging economies. The market has been analyzed based on type segments – oil-based and water-based. The study has also been classified based on applications – bar soap, liquid soap, shampoo and conditioner, and others.
Increasing awareness about hygiene factors is driving the demand for personal care products, which is leading the colorants market. The water-based segment is dominating the soap colorants market, contributing to more than 50% of the market share. Fluctuations in raw material prices are limiting the growth of the soap colorants market in the lower economic countries.
Liquid soaps have the major contribution in the soap colorants market. The high demand is coming from various segments, including a range of age, gender, and ethnicities; these factors are a big opportunity to soap manufacturers. Soap manufacturers are using effective marketing and product innovation to increase the market share in different regions. The shift toward the localization in developing countries to attain the benefit of low production cost and improved demand for products have also impacted the soap colorants market positively.
North America dominates the soap colorants market with an increasing standard of living and growing demand for natural and premium personal care products among end-users. This region is among the fastest growing markets due to increasing penetration of ingredient-based products. Increase in per capita income and the introduction of government policies regarding hygiene, especially in the developing and underdeveloped countries, in the coming years are projected to change the present market. In the North America region, the US still dominates the regional market and is projected to accelerate the market during the forecast period.
The study produced by Infoholic Research provides drivers, restraints, opportunities with current and emerging market trends. Further, it covers an in-depth analysis of each product and end-user application along with forecasting and trends analysis in the global soap colorants market. The major companies covered in the study include big multinational players such as BASF SE, Clariant, Merck KGaA, Huntsman, and Neelikon, which are offering different soap colorants products.
– Vasundhara Singh,