According to the latest report published by Credence Research, Inc. “Global Bath and Shower Products Market – Growth, Future Prospects and Competitive Analysis, 2018-2026,” the global bath and shower products market projected to witness the CAGR of 3.9% from 2018 to 2026.
Rise in the purchasing power of the consumers coupled with rising awareness about health and hygiene across the world propelling the demand for bath and shower products. Factors such as increasing urban population, growth in demand from emerging economies such as India, China, Japan, Brazil, and Mexico, as well as shower and bath product multi-benefits that includes skin nourishment, skin repair, and moisture therapy expected to boost the overall market growth. Growing prevalence of skin and hair & scalp related problems across the world is another factor contributing to the growth of bath and shower products market during the forecast period. However, the growing awareness towards the use of chemical substances in the product, like sodium lauryl sulfate, dioxane, parabens, etc. which is considered as a harmful substance for the skin is expected to hinder the growth of bath and shower products market.
The bath and shower products market encompasses products from personal care industry that includes bath soaps, shower gels, shower creams, hair shampoo, hair conditioner, and others (bath additives and bath accessories). Bath soaps held the largest market value share of over 30% in 2017, and expected to maintain its dominance from 2018 to 2026. Millennial generation are experimenting with new products and are keen to use substitutes for standard bar soaps thereby making shower gels the fastest growing market.
Based on distribution channel, the market is categorized into hypermarket/supermarket, local & specialist retailers, drug stores, online retailing, and direct selling. Hypermarket/supermarket accounted for the largest market followed by local & specialist retailers in 2017. Trends show that with the rising number of supermarkets in developing countries, bath and shower products manufactures as part of their business strategy are focusing on selling products through hypermarket/supermarket to contact the masses which in turn is expected to propel the growth of this segment during the forecast period.
Based on the geography, North America comprised over 25% market share of global bath & shower products market in terms of value in 2017. However, during the forecast period, the growth of North American market would be slower due to low population rise as compared to developing regions like Asia pacific. Asia Pacific projected to witness the fastest growth rate. This growth can be attributed to increased awareness related to health & hygiene among young population followed by increasing disposable income in the region.
Browse the full report Global Bath and Shower Products Market – Growth, Future Prospects and Competitive Analysis, 2018-2026 report at https://www.credenceresearch.com/report/bath-and-shower-products-market
Bath & shower products market is getting highly competitive with presence of large number of established as well as local players. Consumer are shifting towards value added multi-benefit products for personal hygiene requirement along with skin care and fragrance. Therefore, motivating companies in the bath and shower market to come up with new products every now and then, making new product development the preferred strategy among players. Product launches centered on convenience and personalization may help accelerate growth during the forecast period. Players are also promoting their products by celebrity endorsements, promotional activities in various events and awareness campaigns to make consumer aware about new products and variants. The key players in the bath and shower products include Johnson & Johnson (U.S.), L’Oral S.A. (France), Procter & Gamble Co. (U.S.), Unilever (UK), Avon Products, Inc. (U.S.), Beiersdorf AG (Germany), and Este Lauder Companies Inc. (U.S.) among others.