Hong Kong Liquid Hand Soap Market Growth & Trends
The Hong Kong liquid hand soap market size is expected to reach USD 59.8 million by 2030, registering a CAGR of 7.0% during the forecast period, according to a new report by Grand View Research, Inc. The increasing attention towards hygiene especially after the outbreak of COVID-19 is driving the demand for liquid hand soap in Hong Kong. According to a United Nations Children’s Fund (UNICEF) study, good hygiene is critical for preventing the spread of infectious diseases and helping individuals lead long and healthy lives.
However, since 2015 the population with access to basic hygiene services (handwashing facilities at home) has increased by over 500 million, from 5.0 billion (67%) in 2015 to 5.5 billion (71%) in 2020, at a rate of 300,000 people per day. The increasing practice of hand washing and increasing attention toward hand hygiene are expected to contribute significantly to the demand for liquid hand soaps in the future.
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Organic/green liquid hand soap is expected to witness a faster CAGR during the forecast period owing to increasing demand for natural and chemical-free products among young consumers. Further, manufacturers are also enticing customers by advertising their products with different claims. For instance, Bathe to Basics, a premium handmade and organic brand based in Hong Kong offers its products with claims such as natural, preservative-free, and no paraben.
The online distribution channel is anticipated to witness a faster CAGR, owing to the increased adoption of e-commerce, and is also anticipated to provide opportunities to the market players. Innovation and the introduction of varied types of liquid hand soap across the distribution channel will benefit the market’s growth in the coming years. Manufacturers should capitalize on the popularity of e-commerce among millennials and Gen Z by making the products available through online channels and adopting the omnichannel strategy.
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Hong Kong Liquid Hand Soap Market Segmentation
Grand View Research has segmented the Hong Kong liquid hand soap market based on form, type, end-use, and distribution channel:
Hong Kong Liquid Hand Soap Form Outlook (Revenue, USD Million, 2017 – 2030)
- Gel
- Foam
Hong Kong Liquid Hand Soap Type Outlook (Revenue, USD Million, 2017 – 2030)
- Conventional
- Organic/Green
List of Key Players of Hong Kong Liquid Hand Soap Market
- Blue Moon Group Holdings Limited
- Whealthfields Lohmann (Singapore) Pte Ltd
- Aesop
- Reckitt Benckiser Group PLC
- Lion Corporation
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Grand View Research is an India & U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. Grand View Research database is used by the world's renowned academic institutions and Fortune 500 companies to understand the global and regional business environment. Our database features thousands of statistics and in-depth analysis on 46 industries in 25 major countries worldwide.
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