Global Soap Dispenser Market: Rising concerns about hygiene amongst the consumers across the globe and growing purchasing power of middle-class income groups are likely to drive the market.

The global soap dispenser market size was valued at USD 1.22 billion in 2020 and is anticipated to grow at USD 1.75 billion by 2027 at a compound annual growth rate (CAGR) of 5.3% from 2020 to 2027. Rising concerns about hygiene amongst the consumers across the globe and growing purchasing power of middle-class income groups are likely to drive the market. In addition, increasing sanitation programs by various governments are foreseen to fuel the demand for soap dispensers over the forecast period. Increasing focus on cleanliness and hygiene among consumers has resulted in rising frequency of washing hands, which is driving the application of soap dispensers.

Soap bars can be immensely unhygienic in public restrooms and are often carriers of germs, bacteria, and other harmful microorganisms. This can result in a high risk of contracting several illnesses. Soap dispensers are ideal in such scenarios and foreseen to gain significant traction in coming years.

Expanding product portfolio of manufacturers in the industry is also likely to have a positive impact on market growth. Manufacturers are focusing on offering innovative soap dispensers in order to gain a competitive edge in the market. For instance, in February 2020, Bradley Corporation announced a launch of a new line of matching Verge soap dispensers as well as faucets. These sets offer cohesive and striking designs, which improve the aesthetics of Verge washbasins and work seamlessly with any basin. They incorporate advanced sensing technology for reliability as well as durability and are available in 4 styles and 6 finishes.

In terms of value, the residential application segment dominated the market with a share of 36.8% in 2020 and is expected to witness the fastest growth from 2020 to 2027. The high penetration of this segment is attributed to increasing urbanization as a result of population growth and migration, which have resulted in the expansion of the residential sector.

In terms of value, manual soap dispenser dominated the market with a share of 57.9% in 2020 and is projected to witness significant growth over the forecast period. This is attributed to a high adoption rate in residential, restaurants, pubs, public places, and several other commercial places. The manual soap dispensers are economical as compared to an automatic one, and thus is highly preferred by the middle-income groups. In addition, new and innovative features including operational variations, such as push-up, foot-operated, and surgical type, in manual soap dispensers are attracting a large number of users for basic hygiene practices. These factors are expected to propel the segment growth over the forecast period.

The soap dispenser market is segmented on the basis of application, product and region. By application the market is divided into Residential, Corporate Offices, Commercial, Educational Institutions, Healthcare, Public Places, and Transportation. By product the market is divided into Automatic, Manual.

North America dominated the global market with a share of 32.1% in 2020. Increasing number of commercial buildings in the region owing to growth of the tourism industry is expected to boost the demand for soap dispensers. For instance, according to statistics published by the World Travel & Tourism Council (WTTC), in February 2020, U.S. emerged as the world’s largest market for travel and tourism, which contributed USD 1.6 trillion to the country’s economy in 2018 and reported a growth of 2.2% compared to the previous year.

The commercial sector, which includes hotels, restaurants, and malls, has been investing in remodeling projects to enhance consumer experience. With rising number of hotels and other commercial establishments, the need for proper hygiene and sanitation facilities is expected to increase, thereby propelling the demand for soap dispensers across North America.

Asia Pacific is foreseen to be the fastest-growing regional market with a CAGR of 6.2% from 2020 to 2027. This region is home to several emerging economies, such as India and China, with expanding residential and commercial spaces. In addition, uplift in living standards and growing consumer awareness regarding personal health and hygiene are fueling the demand for products, such as liquid soap, which, in turn, is likely to create demand for soap dispensers in the coming years.
Key players are: Toto Ltd.; Kohler Co.; ASI American Specialties, Inc.; simplehuman; Bradley Corporation; GOJO Industries, Inc.; Bobrick Washroom Equipment, Inc.; Duravit AG; Georgia-Pacific LLC; Sloan Valve Company.