Organic Soaps Are Trending
Good Growth Prospects for Harm-Free Formulations
The global market for organic soaps is expected to show an average yearly growth of 7.18 per cent, reaching 145.15 US million dollars by 2027. These figures were published by the market research company Technavio as part of a current study.
Pro: Natural and Cruelty-Free, Con: Short Shelf Life
According to the analysts, significant factors driving the demand for organic soaps include non-toxic and natural ingredients, cruelty-free and vegan formulations, manual production and largely sustainable packaging. Even private label brands are joining the trend and offering soaps with recipes that contain non-GMO ingredients and are free from ingredients such as parabens, sulphates and phthalates. The soaps are also fair-trade and biodegradable. The market researchers predict that the biggest challenge in maintaining growth will be the short shelf life of organic soaps compared to synthetic products.
Increased Consumer Knowledge Is Driving the Switch to Organic Soaps
Technavio sees Asia-Pacific and North America as the most significant markets. In North America in particular, the market is driven by increases in purchasing power and a growing awareness of harmful ingredients and safe formulations.