III. Industry Analysis
[Company Name] competes against small, individually owned soap making companies and major regional or national chains. The global soap market size was $34.09 billion last year and is projected to reach $55.29 billion in the next five years, exhibiting a CAGR of 5.0%. The soap-making industry is highly lucrative, but competitive at the same time. The soap-making industry is quite fragmented and, in the past, big brands commanded a huge market share. However, this has changed a lot with the entry of small soap-making businesses. Given the fact soap is practically used everywhere, the demand keeps increasing.
Going forward, the organic soap manufacturing industry will continue to grow, as the US population will likely become increasingly more beauty-conscious and health-conscious. The trend in the soap production industry is such that, any product that has been proven to be reliable and healthy tends to sell more and determine the direction of the market for such industry.
