Asia: Market for Soap In Different Forms 2024

Market Size for Soap In Different Forms in Asia

In 2021, the Asian soap in different forms market decreased by -2.1% to $X for the first time since 2011, thus ending a nine-year rising trend. The total consumption indicated buoyant growth from 2012 to 2021: its value increased at an average annual rate of +6.8% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +80.9% against 2012 indices. Over the period under review, the market attained the maximum level at $X in 2020, and then fell in the following year.

Production of Soap In Different Forms in Asia

In value terms, soap in different forms production contracted modestly to $X in 2021 estimated in export price. Over the period under review, production, however, saw a buoyant increase. The growth pace was the most rapid in 2019 when the production volume increased by 27%. As a result, production attained the peak level of $X. From 2020 to 2021, production growth remained at a somewhat lower figure.

Exports of Soap In Different Forms

Exports in Asia

In 2021, overseas shipments of soap in different forms decreased by -11% to X tons for the first time since 2016, thus ending a four-year rising trend. Total exports indicated resilient growth from 2012 to 2021: its volume increased at an average annual rate of +5.6% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2013 when exports increased by 36%. Over the period under review, the exports reached the peak figure at X tons in 2020, and then reduced in the following year.

In value terms, soap in different forms exports expanded to $X in 2021. The total export value increased at an average annual rate of +2.4% over the period from 2012 to 2021; however, the trend pattern remained relatively stable, with only minor fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2017 with an increase of 14%. The level of export peaked in 2021 and is likely to see steady growth in the immediate term.

Exports by Country

Indonesia represented the key exporting country with an export of around X tons, which accounted for 53% of total exports. It was distantly followed by Malaysia (X tons), committing a 29% share of total exports. The following exporters - Turkey (X tons), Thailand (X tons), the United Arab Emirates (X tons) and Saudi Arabia (X tons) - together made up 12% of total exports.

From 2012 to 2021, the biggest increases were recorded for Indonesia (with a CAGR of +15.8%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Indonesia ($X), Malaysia ($X) and Thailand ($X) appeared to be the countries with the highest levels of exports in 2021, together comprising 74% of total exports.

In terms of the main exporting countries, Indonesia, with a CAGR of +13.7%, recorded 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 stood at $X per ton in 2021, increasing by 14% against the previous year. In general, the export price, however, recorded a pronounced shrinkage. Over the period under review, the export prices attained the maximum at $X per ton in 2012; however, from 2013 to 2021, the export prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was the United Arab Emirates ($X per ton), while Indonesia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+2.6%), while the other leaders experienced a decline in the export price figures.

Imports of Soap In Different Forms

Imports in Asia

In 2021, after two years of decline, there was growth in supplies from abroad of soap in different forms, when their volume increased by 2% to X tons. The total import volume increased at an average annual rate of +2.9% over the period from 2012 to 2021; the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2017 with an increase of 14% against the previous year. The volume of import peaked at X tons in 2018; however, from 2019 to 2021, imports failed to regain momentum.

In value terms, soap in different forms imports rose markedly to $X in 2021. In general, imports continue to indicate a relatively flat trend pattern. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, the United Arab Emirates (X tons), distantly followed by India (X tons), the Philippines (X tons), China (X tons) and Turkey (X tons) were the largest importers of soap in different forms, together mixing up 60% of total imports. Thailand (X tons), Bangladesh (X tons), South Korea (X tons), Saudi Arabia (X tons), Malaysia (X tons), Japan (X tons), Iraq (X tons) and Vietnam (X tons) followed a long way behind the leaders.

From 2012 to 2021, the biggest increases were recorded for Bangladesh (with a CAGR of +18.0%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the United Arab Emirates ($X), India ($X) and the Philippines ($X) constituted the countries with the highest levels of imports in 2021, with a combined 42% share of total imports.

The Philippines, with a CAGR of +14.0%, saw the highest growth rate of the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the import price in Asia amounted to $X per ton, surging by 12% against the previous year. Overall, the import price, however, saw a noticeable curtailment. Over the period under review, import prices hit record highs at $X per ton in 2012; however, from 2013 to 2021, import prices stood at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Turkey (+1.0%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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