Global Soap Dispenser Market Overview
The key driver impacting the soap dispenser market is the rapidly growing tourism which is driving the hotel industry globally. the growing number of hotels leads to more construction of bathroom fittings and fixtures, thus boosting soap dispenser demand in the forecast period. for instance, as per the hospitalitynet Org In 2016, the global hotel industry market estimated revenue is $550 billion US dollars which are around $457 billion US dollars in 2011. moreover, the rising concerns regarding hygiene amongst the consumers and growing sanitation programs by various governments globally are also estimated to be a significant determinant that adds growth to the market.
According to Value Market Research, the global soap dispenser market size was valued at around USD 1250 million in 2020 and is estimated to grow at a CAGR of about 5.75% during the forecast period of 2021 to 2027.
The improving lifestyle and rising disposable income are giving rise to the construction of more luxurious bathrooms that provide a more spa-like experience are estimated to improve market demand in the forecast period. for instance, as per the World Bank report net national income per capita was 8967.271 USD in 2014; it is augmented to 8865.384 USD,9290.346 USD respectively in 2017 and 2018. however, fluctuation in raw material prices and the availability of cheap products may hamper the global soap dispenser market in the long run. the current industry trends, such as the growing adoption of smart soap dispensers and increasing awareness for maintaining hygiene among people, are expected to provide profitable market opportunities for the market players.
The soap dispenser market is vast, with many local and global players. the key leaders follow several strategies to develop their market position, such as mergers, contracts, acquisitions, expansions, extending product portfolio, product innovations to improve their market share globally. for instance, in 2019 December, Frost Products Ltd. introduced a new counter-mounted foam dispenser which is made up of stainless steel, has a type 304 brushed finish, and a one-liter capacity. The key players included in the report are Toto Ltd., Simplehuman, Duravit AG, Kohler Co., GOJO Industries, Inc., Bradley Corporation, ASI American Specialties, Inc., Bobrick Washroom Equipment, Inc., Sloan Valve Company, and Georgia-Pacific LLC.
In this research report, the soap dispenser market is segmented by product, application, and region.
Analysis by Product:
By product, the report is categorized into automatic and manual. The manual segment dominates the product segment with over 55% share in 2020. It is due to the growing adoption rate in residential, restaurants, pubs, public places, and several other commercial places as it is economical as compared to an automatic one. Moreover, the innovative features and operational variations, such as foot-operated, push-up, and surgical type, in manual soap dispensers are attracted a considerable number of users for basic hygiene practices, thus contributes to the growth in the forecast period.
Analysis by Applications:
By applications, the report is categorized into residential, corporate offices, commercial, educational institutions, healthcare, public places, and transportation. The residential sector dominates the application segment with over 35% share in 2020. It is due to the rising urbanization as a result of population growth and migration. Moreover, the rise in housing ownership rates across various regions and increasing awareness regarding hygiene and health contribute to the vast market demand in residential applications in the forecast period.
Analysis by Region:
In the regional outlook of the global soap dispenser market, the North America region dominates with a market share of 33% in 2020 during the forecast period. It is due to the rising number of commercial buildings in the U.S. and other regions due to the growth of the tourism industry. The considerable investment by the commercial sector, which includes restaurants, hotels, and malls in remodeling projects to improve the consumer experience, is also adding growth to the market demand in this region. Moreover, the growing adoption of advanced technologies contributes to the development of the soap dispenser market across North America.
Market Segmentation covered in the Report:
By Product
By Application
- Residential
- Corporate Offices
- Commercial
- Educational Institutions
- Healthcare
- Public Places
- Transportation
By Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
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