According to a study published by Persistence Market Research (PMR), the sodium lauryl sulfate market is projected to record a CAGR of 5% during 2019-2029, and soap and detergent applications are likely to draw in high lucrative growth prospects. A scramble towards urban areas to seek better employment opportunities and lifestyle is a weighted trend that bears opportunities for cleaning agents, as hygiene is one of the novel quests of consumers. However, even government initiatives have a part to play in the advancement of the market. Initiatives taken by governments of developing countries with an intense focus on enabling hygienic condition coupled with the growing need to disinfect households to prevent the spread of infections holds promising prospects for the landscape.
With the fast-paced lives of consumers, on-demand laundry services are gaining a place of prominence in especially urban areas, which holds high sales potential for the sodium lauryl sulfate market during the forecast period.
A Roadblock to the Steady Growth of the Sodium Lauryl Sulfate Market
As per the PMR study, market players could witness issues related to the regulations from governing authorities that advocate against the use of sodium lauryl sulfate. Several literatures backed by researches have come to light that point at the hazardous nature of sodium lauryl sulfate. As per a study conducted by Environmental Working Group’s Skin Deep Cosmetic Safety Database, sodium lauryl sulfate bears the status of being moderately hazardous and is associated to organ toxicity, neurotoxicity, endocrine disruption, skin irritation, and cancer. Another study from the Cosmetic Ingredient Review opines that sodium lauryl sulfate turns into an irritant at a concentration level of 2 or more than 2 percent.
With the growing awareness regarding the carcinogenic nature of sodium lauryl sulfate among consumers, a quest for products market “SLS free” is observed, and personal care market players are shifting towards essential oils and natural products, which is likely to have a long-term impact on sales of sodium lauryl sulfate.
Asia Pacific to Upkeep its Attractiveness in the Sodium Lauryl Sulfate Market
The study reports that China currently holds the status of being the exponentially growing laundry market in the world, which can be accounted to the growing consciousness regarding hygiene conditions and a wide populace base demanding personal care products. The trend is also found to reflect on the neighboring country – India – wherein, washing machine-based laundry products are gaining importance on account of the changing retail landscape with a broad portfolio of different products and different brands. Also, the dawn of industrialization in China and India, and its rate of advancement at an accelerated pace is likely to upkeep the demand for sodium lauryl sulfate for industrial cleaning purposes.
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The report shows that market players expend efforts towards the development of liquid products over dry products on account of the high miscibility factor coupled with cost-efficiency. Expansion of product portfolio along with quality products can help gain market players a distinguished position in the sodium lauryl sulfate market. In addition, market players can target their products specifically to cosmetics and pharmaceutical industries to reap the benefits of long-term sales opportunities.