The US soap (except solid soap) market reached a value of $1,120.5 million in 2023. Over the past decade, the market demonstrated a growth trend with notable fluctuations. Between 2013 and 2023, the market experienced variations with a dip in 2017 and 2020. In the last two years, the market grew by 1.01% in 2022 and 0.98% in 2023, signaling stability post-pandemic. The compound annual growth rate (CAGR) for the past five years stood at 0.84%, indicating moderate growth.
Future trends to watch for:
- Emergence of sustainable and eco-friendly products.
- Increased demand for premium and organic formulations.
- Growth in online retail and distribution channels.
- Potential impact of regulatory changes on product formulations.
