By 2025, the growth in the Electronic soap dispenser market is predicted to skyrocket to up to $1.01 billion, stated the latest statistical analysis for the Nebraska News Channel. Just two years prior, the market rate was registered at $668.3 million.
Demands for soap dispensers are high, not just for the U.S. but for Thailand, China, Brazil, and South Africa as well.
But, the question is, what could be the reason for such a sudden increase in interest rates and what it means for the soap dispenser market? Let’s take a look at the statistics and the global analysis for the forecasted period of 2020-2027.
4 Reasons for the High Demand of Electronic Soap Dispenser Wall Mount
According to the latest research, in the last few years, the automatic bathroom industry has been steadily increasing. Manufacturers have been investing in smart dispensers, automatic faucets, and technology for expanding on the global market.
The smart soap dispenser got immediate attention as it’s expected to earn more than $2400 million by 2027. The CAGR is at 6% until 2025.
There are four main reasons as to why the demand for these types of soap dispensers is on the rise. These reasons include:
1. Increased Government Adoption and Participation
At first, the product got attention out of convenience, mainly because it can be mounted to a wall.
A typical electronic soap dispenser wall mount features a tank for storing the liquid soap, a pump unit for dispensing the soap, and a power supply to work properly. Many electronic dispensers are also equipped with a sensor, which makes them very convenient for daily use.
The sensors are designed to detect hands automatically. They rely on infrared detection systems to prevent soap waste. Since it doesn’t require manual contact, it’s a very practical option for on-the-go or when someone is in a hurry.
People started buying soap dispensers since they aren’t as messy as regular bars of soap. They were also attracted to the slick and stylish design and soap-saving feature that made the hand basins much easier to clean.
Having one, such a product at the office turned out to be even more efficient than people realized. The soap dispensers with sensors prevent spillage. Plus, the product remains tightly sealed, which secured the liquid in place. The basin stays clean and users get to decide the amount of soap they are going to use. Their practicality was on-point.
But, it wasn’t until the government adopted these products in countless restrooms across different regions, that soap dispensers really got the attention they were hoping for. This massively contributed to the growth in the Electronic soap dispenser market.
In fact, back in 2018, North America held the biggest market share for such soap dispensers. The region accounted for 35%.
- Increased government adoption and participation
- Rising implementation in private and business sectors
- Higher personal hygiene awareness
- Current epidemic outbreak
[caption id="attachment_3814" align="alignnone" width="2000"]
Washing hands, hygiene, and prevention viral and bacterial diseases[/caption]
2. Rising Implementation in Private and Business Sectors
The private construction sector, in the Asia Pacific, to be exact, is expected to have a massive growth in the soap dispenser industry. Many institutes and buildings like schools, hotels, and construction activities in the region have been purchasing smart soap dispensers.
In 2015, soap dispensers accounted for 37% of their total spending in infrastructure, and 34% for residential projects.
Due to the high demand, Canada is also predicted to bring a valuable contribution to the current market for non-residential and residential sectors.
3. Higher Personal Hygiene Awareness
People are now more aware of the importance of personal hygiene, which is considered one of the reasons for the interest in such products. Since more and more residences now have smart bathrooms and kitchens, adding an additional electric gadget makes for a solid investment.
4. Current Epidemic Outbreak
While there isn’t enough research on the effects of COVID-19 on the growth in the electronic soap dispenser market, hygiene concerns are running high.
At the start of the outbreak, many manufacturers struggled to keep up with demand, including hand soap dispensers. People in both developing and developed countries are hoarding as many products for hygiene as possible, some of which happen to be soap dispensers.
The epidemic might be contributing to the increase in revenue, but for a short time. It’s not the major contributor to the industry’s success. For the time being, it’s giving the market a slight revenue boost. But, the interest in this product is not expected to drop anytime soon.
The current market has prompted a valuable opportunity for the electronic soap dispenser industry in the foreseeable future. Since it gives bathrooms a more convenient and luxurious feel, many have focused on implementing this product in various sectors, even on a global scale.
Leave a Comment