As per the MRFR reports, the global soap dispenser market is projected to thrive at a healthy CAGR of approximately 9.1% during the forecasted era from 2020 to 2027. The report states that the market was valued at USD 3.15 Billion in 2019.
The global market for soap dispensers has registered enormous growth in the past few years. The market's growth is mainly credited to consumers' growing awareness of hand hygiene etiquette. Furthermore, the increasing number of harmful infectious diseases such as COVID-19, H1N1, and Ebola is also anticipated to boost the demand for these soap dispensers worldwide. Moreover, the factors such as the advent of innovative and designable soap dispensers, changing lifestyles, and rising purchasing power are also projected to catalyze the growth of the soap dispensers market over the forecasted era. On the other hand, the increasing number of counterfeit products during a global crisis and increasing prices are anticipated to impede the market's growth.
Segment Analysis
The global soap dispenser market has been segregated into numerous segments based on type, end-user, mode of operation, distribution channel, and region.
The global soap dispenser market is divided into countertop and wall-mounted based on type.
The global market for soap dispensers is split into automatic and manual based on the mode of operation.
The global soap dispenser market is split into commercial and residential based on end-user.
The global market for soap dispensers is split into non-store-based and store-based by distribution channel.
Competitive Analysis
The global soap dispensers market has an incredibly competitive landscape. The players across the market are focusing on developing new and advanced products to meet the growing demands worldwide. The global leading key soap dispensers market players such as ASI American Specialties, Inc. (US), Hokwang Industries Co., Ltd. (Taiwan), Kohler Co. (US), Shresmo (India), CERA Sanitaryware Limited (India), GOJO Industries, Inc. (US), TOTA Ltd. (Japan), American Specialties, Inc. (the US), Bobrick Washroom Equipment, Inc. (the US), Jaquar Group (India), and several others.
Regional Analysis
The global soap dispenser market is studied across five major regions: North America, Europe, Asia-Pacific, South America, and the Middle East Africa.
As per the MRFR reports, in 2019, the North American region led the global soap dispenser market globally. The regional market's growth is attributed mainly to the strong prevalence of hand hygiene etiquette. Furthermore, the presence of some of the key players concentrated in soap dispensers across the US is also likely to boost the regional market's growth.
The soap dispenser market for the European region is projected to register substantial growth over the assessment era.
The Asia-Pacific regional market for soap dispensers is likely to offer numerous growth opportunities to the players across the region over the forecasted era. The wild spread of global pandemics such as COVID-19 is projected to boost the demand for soap dispensers across the regional market. Moreover, the factors such as the rising number of emerging economies and increasing purchasing capacity are anticipated to catalyze the regional market's growth over the forecasted era.
Recent Developments
- August 2021- Amazon has announced the launch of a smart soap dispenser, which helps you make sure you're washing your hands right. The USD54.99 soap dispenser has lights on the top, which gradually count down 20 seconds, to make sure you've washed your hands for the CDC-recommended minimum amount of time. It also functions with Amazon Echo devices, which means you can set an Echo speaker to play music, tell you a joke, the weather, or something else.
- August 2021- Eddi has produced a completely plastic-free hand washing system, which comprises a stainless-steel dispenser alongside refills that come in lightweight aluminum bottles, which can be easily recycled. While sustainability is a key seller, the brand also wants to excite customers with its aesthetics. The brand collaborated with Box Clever to produce an elegant, minimalist bottle developed to elevate bathroom and kitchen sinks.
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