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Soap, Washing Powder and Synthetic Detergent Manufacturing in China

China soap manufacturing market: $29.9 billion industry by 2018


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2014-04-28 05:52:02 - Soap, Washing Powder and Synthetic Detergent Manufacturing in China - a new market research report on companiesandmarkets.com

Revenue in the China soap manufacturing market and washing powder & synthetic detergent manufacturing industry has been increasing at an average annualized rate of 9.6% over the past five years. In 2013, the industry is expected to grow 3.2% to $26.2 billion.

Industry growth has been driven by rising hygiene awareness in China and the rapid development of synthetic detergents, including laundry detergent and liquid soap. In addition, the growing purchasing power of Chinese consumers has led to a declining sensitivity to product prices. Last, there are over 4,000 manufacturers, distributors and agents nationwide, which has supported the development of the retailing network in suburban and rural areas.

ACMR-IBISWorld estimates that the top four industry participants – Procter & Gamble, Nice Group,

 

 

Liby Group and Unilever – jointly contribute 47.5% of total industry revenue, suggesting a moderate level of concentration. These major players have experienced much faster growth in the past few years than the industry as a whole, which has resulted in increasing market share concentration. As two of the top four manufacturers are global consumer goods companies, the industry is deemed to have a high globalization level. Foreign brands are most competitive in the shampoo and washing powder product segments.

ACMR-IBISWorld forecasts that industry demand will continue to grow. Sales of soap, washing powder and synthetic detergent products will continue to increase in second- and third-tier cities. In addition, the rapid expansion of online shopping will promote the development of the industry. However, increasing raw material prices will put pressure on the industry´s enterprises, limiting growth over the next five years. As a result, revenue for the industry is forecast to grow just 2.7% annually to reach $29.9 billion in 2018.

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