Asia-Pacific: Soap Market 2024

Soap Market Size in Asia-Pacific

In 2021, after two years of growth, there was significant decline in the Asia-Pacific soap market, when its value decreased by -6% to $X. The total consumption indicated tangible growth from 2012 to 2021: its value increased at an average annual rate of +2.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +47.9% against 2015 indices. The level of consumption peaked at $X in 2020, and then contracted in the following year.

Soap Production in Asia-Pacific

In value terms, soap production shrank to $X in 2021 estimated in export price. The total production indicated a tangible expansion from 2012 to 2021: its value increased at an average annual rate of +2.6% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +53.1% against 2015 indices. The pace of growth was the most pronounced in 2019 with an increase of 23%. The level of production peaked at $X in 2020, and then shrank in the following year.

Soap Exports

Exports in Asia-Pacific

In 2021, after five years of growth, there was significant decline in overseas shipments of soap, when their volume decreased by -14.4% to X tons. Total exports indicated a strong increase from 2012 to 2021: its volume increased at an average annual rate of +5.9% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +35.3% against 2015 indices. The most prominent rate of growth was recorded in 2013 when exports increased by 25%. Over the period under review, the exports attained the peak figure at X tons in 2020, and then dropped in the following year.

In value terms, soap exports declined to $X in 2021. Over the period under review, exports, however, saw a resilient increase. The most prominent rate of growth was recorded in 2020 with an increase of 36%. As a result, the exports attained the peak of $X, and then fell modestly in the following year.

Exports by Country

In 2021, Indonesia (X tons), distantly followed by China (X tons), Malaysia (X tons) and Thailand (X tons) were the main exporters of soap, together mixing up 87% of total exports. India (X tons), Japan (X tons) and Singapore (X tons) followed a long way behind the leaders.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by Japan (with a CAGR of +21.5%), while the other leaders experienced more modest paces of growth.

In value terms, the largest soap supplying countries in Asia-Pacific were China ($X), Indonesia ($X) and Japan ($X), together accounting for 57% of total exports. Malaysia, Thailand, Singapore and India lagged somewhat behind, together comprising a further 28%.

In terms of the main exporting countries, Singapore, with a CAGR of +25.2%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in Asia-Pacific stood at $X per ton in 2021, picking up by 12% against the previous year. Over the last nine-year period, it increased at an average annual rate of +2.1%. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major exporting countries. In 2021, the country with the highest price was Japan ($X per ton), while Indonesia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Singapore (+5.2%), while the other leaders experienced more modest paces of growth.

Soap Imports

Imports in Asia-Pacific

Soap imports reduced to X tons in 2021, falling by -2.2% against the previous year. Total imports indicated a remarkable increase from 2012 to 2021: its volume increased at an average annual rate of +6.3% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +73.1% against 2012 indices. The most prominent rate of growth was recorded in 2020 when imports increased by 14%. As a result, imports reached the peak of X tons, and then reduced slightly in the following year.

In value terms, soap imports skyrocketed to $X in 2021. In general, imports, however, recorded a resilient expansion. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

The purchases of the twelve major importers of soap, namely China, India, Australia, the Philippines, Japan, Singapore, Malaysia, South Korea, Thailand, Taiwan (Chinese), Vietnam and Bangladesh, represented more than two-thirds of total import.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by India (with a CAGR of +15.8%), while imports for the other leaders experienced more modest paces of growth.

In value terms, China ($X) constitutes the largest market for imported soap in Asia-Pacific, comprising 43% of total imports. The second position in the ranking was taken by Japan ($X), with a 7.1% share of total imports. It was followed by Australia, with a 6.7% share.

In China, soap imports expanded at an average annual rate of +38.3% over the period from 2012-2021. The remaining importing countries recorded the following average annual rates of imports growth: Japan (-0.2% per year) and Australia (+5.2% per year).

Import Prices by Country

The import price in Asia-Pacific stood at $X per ton in 2021, increasing by 47% against the previous year. Import price indicated a prominent increase from 2012 to 2021: its price increased at an average annual rate of +5.9% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, soap import price increased by +95.7% against 2015 indices. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably country of destination: the country with the highest price was China ($X per ton), while Bangladesh ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+23.0%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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