Market Forecast By Type (Bar Soap, Liquid Soap), By Application (Household, Commercial, Other), By Distribution Channel (Modern Trade, Traditional Trade, Online) And Competitive Landscape
|Product Code: ETC021436||Publication Date: Dec 2022||Product Type: Report|
|Publisher: 6Wresearch||No. of Pages: 70||No. of Figures: 35||No. of Tables: 5|
Ghana Soap Market is expected to gain a positive growth rate in the coming years due to the surging population, improved infrastructure including better roads and railways, and increased demand from regional markets. In addition, Ghana has favourable weather conditions that have simplified the production of quality soap products. In addition, Ghana has a good water supply that ensures the production of high-quality soap products. The country is also benefitting from favourable economic conditions, which are helping to drive demand for soap during the forecast period. The Ghana Soap Market growth is anticipated to proliferate owing to the increasing awareness about the importance of personal hygiene and the increased spending on health care by the population.
According to 8Wresearch, Ghana Soap Market is expected to grow during 2022-2028. The main drivers of the Ghana soap market are the increasing population, rising income levels, and the increase in disposable income of the individuals. The Ghana Soap Industry is forecast to grow in the projected period and the growth can be attributed to the increasing population, and the increasing disposable incomes. The Ghana Soap Market size is expected to grow at a CAGR of XX% in the coming years. Furthermore, the growing geriatric population and increased incidence of skin infections are also boosting demand for soap in Ghana. However, the market is likely to face a few challenges include tariffication of certain ingredients used in soap production and stringent regulations on hygiene product manufacturing that could impede entry of new players into the market. Moreover, the growth will be driven by the increasing awareness about the benefits of soap and its positive impact on overall hygiene levels. Furthermore, increased investment in affordable and effective technology for manufacturing soaps will also support driving the Ghana Soap Market share over the forecast period.
The COVID-19 outbreak has had a significant impact on the Ghana Soap Market. The demand for soap has increased significantly as people are taking more precautions to protect themselves from the virus. However, supplies of soap have been disrupted due to the closure of factories in China which is the major exporter of soaps. This has led to a shortage of soap in Ghana and prices have increased significantly which in turn decreased the demand for this market during the pandemic. The impact of COVID-19 on the Ghana Soap Industry is expected to be temporary and the market is expected to return to normal once the pandemic situation normalizes.
On the basis of distribution channel, the market is categorized into Modern Trade, Traditional Trade, and Online. All these segments are witnessing an upward trend and projected to gain the largest share of the market during the forecast period.
The Ghana Soap market is highly competitive and fragmented with large number of local and international brands vying for market share. There are many different brands and products available. However, there are some factors that can make one brand or product more attractive than another in terms of prices and discounts that can make a big difference to attract more consumers. In addition, quality is an important factor to stand out in the market as consumers prefers good quality products.
The report offers a comprehensive study of the subsequent market segments:
1. What are the growth opportunities for the market?
Increasing awareness about the benefits of soap and its positive impact on overall hygiene. Moreover, the increased investment in affordable and effective technology are the major growth opportunities for the market.
2. What factors plunging the demand for the market?
The high cost of production, lack of infrastructure and distribution channels are plunging the demand for the market.
3. Does this report cover the impact of COVID-19 on the market?
Yes, this report covers the impact of COVID-19 as well as the market segmentation analysis.
4. What is the forecast period of this report?
The forecast period of this report is 2022-2028.
|1 Executive Summary|
|2.1 Key Highlights of the Report|
|2.2 Report Description|
|2.3 Market Scope & Segmentation|
|2.4 Research Methodology|
|3 Ghana Soap Market Overview|
|3.1 Ghana Country Macro Economic Indicators|
|3.2 Ghana Soap Market Revenues & Volume, 2021 & 2028F|
|3.3 Ghana Soap Market - Industry Life Cycle|
|3.4 Ghana Soap Market - Porter's Five Forces|
|3.5 Ghana Soap Market Revenues & Volume Share, By Type, 2021 & 2028F|
|3.6 Ghana Soap Market Revenues & Volume Share, By Application , 2021 & 2028F|
|3.7 Ghana Soap Market Revenues & Volume Share, By Distribution Channel, 2021 & 2028F|
|4 Ghana Soap Market Dynamics|
|4.1 Impact Analysis|
|4.2 Market Drivers|
|4.3 Market Restraints|
|5 Ghana Soap Market Trends|
|6 Ghana Soap Market, By Types|
|6.1 Ghana Soap Market, By Type|
|6.1.1 Overview and Analysis|
|6.1.2 Ghana Soap Market Revenues & Volume, By Type, 2018 - 2028F|
|6.1.3 Ghana Soap Market Revenues & Volume, By Bar Soap, 2018 - 2028F|
|6.1.4 Ghana Soap Market Revenues & Volume, By Liquid Soap, 2018 - 2028F|
|6.2 Ghana Soap Market, By Application|
|6.2.1 Overview and Analysis|
|6.2.2 Ghana Soap Market Revenues & Volume, By Household, 2018 - 2028F|
|6.2.3 Ghana Soap Market Revenues & Volume, By Commercial, 2018 - 2028F|
|6.2.4 Ghana Soap Market Revenues & Volume, By Other, 2018 - 2028F|
|6.3 Ghana Soap Market, By Distribution Channel|
|6.3.1 Overview and Analysis|
|6.3.2 Ghana Soap Market Revenues & Volume, By Modern Trade, 2018 - 2028F|
|6.3.3 Ghana Soap Market Revenues & Volume, By Traditional Trade, 2018 - 2028F|
|6.3.4 Ghana Soap Market Revenues & Volume, By Online, 2018 - 2028F|
|7 Ghana Soap Market Import-Export Trade Statistics|
|7.1 Ghana Soap Market Export to Major Countries|
|7.2 Ghana Soap Market Imports from Major Countries|
|8 Ghana Soap Market Key Performance Indicators|
|9 Ghana Soap Market - Opportunity Assessment|
|9.1 Ghana Soap Market Opportunity Assessment, By Type, 2021 & 2028F|
|9.2 Ghana Soap Market Opportunity Assessment, By Application, 2021 & 2028F|
|9.3 Ghana Soap Market Opportunity Assessment, By Distribution Channel, 2021 & 2028F|
|10 Ghana Soap Market - Competitive Landscape|
|10.1 Ghana Soap Market Revenue Share, By Companies, 2021|
|10.2 Ghana Soap Market Competitive Benchmarking, By Operating and Technical Parameters|
|11 Company Profiles|