Market Research Report
Soap Dispenser Market Size, Share & Trends Analysis Report By Product (Automatic, Manual), By Application (Residential, Commercial), By Region, And Segment Forecasts, 2020 - 2027
|Published by||Grand View Research, Inc.||Product code||948022|
|Published||Content info||80 Pages
Delivery time: 2-3 business days
|Soap Dispenser Market Size, Share & Trends Analysis Report By Product (Automatic, Manual), By Application (Residential, Commercial), By Region, And Segment Forecasts, 2020 - 2027|
|Published: June 16, 2020||Content info: 80 Pages||
Soap Dispenser Market Growth & Trends
The global soap dispenser market size is anticipated to reach USD 1.84 billion by 2027, according to a new report by Grand View Research, Inc., expanding at a CAGR of 5.3% from 2020 to 2027. Increasing focus on cleanliness and hygiene among consumers has resulted in rising frequency of washing hands, which, in turn, is expected to drive the market in coming years.
With the advent of new technology, soap dispensers have become the bath and kitchen essentials. A soap dispenser is a device that usually dispenses soap in small quantities for single use, when triggered correctly. Rapid growth of the bathroom fittings industry is offering lucrative opportunities for soap dispenser manufacturers. In addition, rising demand for multi-functional soap dispensers that are aesthetically appealing and complement other plumbing fixtures is boosting the market growth.
Continuous expansion in the commercial construction sector has also paved the way for plumbing fixtures, including soap dispensers. The hospitality sector in particular, which includes hotels, resorts, and hospitals, is enhancing the need for soap dispensers in these segments. For instance, according to the London Hotel Development Monitor Report 2018, the hotel industry in London is expected to add around 11,600 rooms to its hotel market by the end of 2020. 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 in coming years.
By product type, automatic soap dispensers are foreseen to witness significant growth in the forecast period owing to rising application in the commercial and residential sectors. Increased spending on renovating bathroom fixtures has driven the application of automatic soap dispensers in bathrooms across the residential sector. However, rising penetration of smart bathrooms across restaurants, hotels, resorts, and other commercial spaces has boosted the application of automatic soap dispensers as an integral component of bathroom fittings. For instance, in 2018, U.S. had more than 620,000 eating and drinking places and this count is foreseen to increase in coming years. This is expected to generate significant demand for soap dispenser over the forecast period.
Asia Pacific is foreseen to register the fastest CAGR of 6.2% over the forecast period. Continuous expansion of the residential sector and commercial spaces, including restaurants, hotels, educational institutes, hospitals, and corporate offices, in emerging countries, such as China, Indian, and Indonesia, is foreseen to drive the demand for soap dispenser over the forecast period. In Asia Pacific, China is expected to hold a dominant market share and projected to witness notable growth over the forecast period. It is attributed to growing China's hospitality industry in cities, such as Hong Kong, Macau, and Haitang Bay, which is expected to create positive outlook for the market.
Soap Dispenser Market Report Highlights
By product, automatic soap dispenser is projected to be the fastest growing segment with a CAGR of 6.0% over the forecast period
The residential application segment was valued at USD 447.0 million in 2019
North America held the largest share in 2019 and is foreseen to remain at the forefront in the forecast period.