Soap Dispenser Market Size, Share, Growth Analysis, By Product(Automatic, Manual), By Application(Residential, Corporate Offices, Commercial, Educational Institutions), By Region - Industry Forecast 2024-2031

Global Soap Dispenser Market size was valued at USD 1.40 Billion in 2022 and is poised to grow from USD 1.51 Billion in 2023 to USD 2.80 Billion by 2031, by rising at a CAGR of 8.0 % during the forecast period (2024-2031).

Soap dispenser manufacturers are benefiting from the growing growth of the bathroom fittings market. Furthermore, increased demand for visually pleasing multipurpose soap dispensers that compliment other plumbing fixtures is driving the market. However, the present global outbreak of COVID-19 has dramatically increased public awareness of the importance of personal hygiene and keeping a clean environment. Touch can easily spread the extremely contagious virus from one infected object or person to another. As a result, healthcare organizations all around the world have identified frequent hand washing with soap as a vital preventive intervention. This has boosted the growth of the soap dispensers’ market, and the trend is expected to continue in the coming months.

The rapid growth of the commercial construction industry has also opened up opportunities for plumbing components such as soap dispensers. The hospitality industry, notably hotels, resorts, and healthcare facilities, is growing the need for soap dispensers in these areas. According to a report provided by Lodging Econometrics (LE), the United States established 665 new hotels with 85,306 rooms through the third quarter of 2021, with another 221 hotels with 23,026 rooms opening by the end of the year, for a total of 886 hotels with 108,332 rooms for 2021.

Furthermore, broadening the product portfolios of industry producers is anticipated to have a favorable impact on the market. Manufacturers have been exploring various materials and designs in order to provide consumers with personalized soap dispensers. As people's lifestyles and disposable incomes improve, more lavish bathrooms are being built, with the goal of providing a more spa-like environment. This increases demand for sophisticated bathroom fixtures.

Furthermore, with the development of smart and linked technology, businesses are also introducing smart soap dispensers, and this trend is gaining popularity among consumers. Kohler Company, for example, sells an automatic 16-ounce soap dispenser. This refilled dispenser fits into pre drilled drain holes and works with modern-style faucets. The product can be purchased in a variety of finishes, including Polished Chrome, Vibrant Plated Nickel, Brushed Chrome, & Vibrant Stainless.