Asia: Soap Market 2024

Soap Market Size in Asia

In 2021, the Asian soap market decreased by -4.9% to $X for the first time since 2018, thus ending a two-year rising trend. The total consumption indicated a pronounced expansion from 2012 to 2021: its value increased at an average annual rate of +2.5% 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 +46.5% against 2015 indices. The level of consumption peaked at $X in 2020, and then dropped modestly in the following year.

Soap Production in Asia

In value terms, soap production dropped to $X in 2021 estimated in export price. The total production indicated notable 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, production increased by +49.2% against 2015 indices. The pace of growth was the most pronounced in 2019 with an increase of 22% against the previous year. Over the period under review, production hit record highs at $X in 2020, and then declined in the following year.

Soap Exports

Exports in Asia

In 2021, after five years of growth, there was significant decline in overseas shipments of soap, when their volume decreased by -9.2% to X tons. The total export volume increased at an average annual rate of +4.5% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2020 when exports increased by 20%. As a result, the exports attained the peak of X tons, and then reduced in the following year.

In value terms, soap exports reduced to $X in 2021. Total exports indicated a resilient increase from 2012 to 2021: its value increased at an average annual rate of +5.8% 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 +68.9% against 2015 indices. The growth pace was the most rapid in 2020 with an increase of 34%. As a result, the exports reached the peak of $X, and then contracted slightly in the following year.

Exports by Country

Indonesia (X tons), Turkey (X tons), China (X tons) and Malaysia (X tons) represented roughly 79% of total exports in 2021. Thailand (X tons), the United Arab Emirates (X tons), India (X tons), Israel (X tons), Japan (X tons) and Saudi Arabia (X tons) followed a long way behind the leaders.

From 2012 to 2021, the biggest increases were recorded for Japan (with a CAGR of +21.5%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, China ($X), Indonesia ($X) and Japan ($X) appeared to be the countries with the highest levels of exports in 2021, together accounting for 46% of total exports.

Japan, with a CAGR of +23.5%, saw the highest growth rate of the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the export price in Asia amounted to $X per ton, with an increase of 6.1% against the previous year. Over the last nine-year period, it increased at an average annual rate of +1.3%. The growth pace was the most rapid in 2020 when the export price increased by 11%. The level of export peaked in 2021 and is likely to see steady growth in the near future.

Prices varied noticeably country of origin: 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 the United Arab Emirates (+8.2%), while the other leaders experienced more modest paces of growth.

Soap Imports

Imports in Asia

In 2021, approx. X tons of soap were imported in Asia; with an increase of 8.2% compared with the year before. The total import volume increased at an average annual rate of +5.1% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2013 when imports increased by 12%. Over the period under review, imports attained the maximum in 2021 and are expected to retain growth in the immediate term.

In value terms, soap imports surged to $X in 2021. Overall, imports enjoyed a buoyant expansion. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, the United Arab Emirates (X tons), followed by China (X tons), India (X tons), the Philippines (X tons), Turkey (X tons), Japan (X tons) and Iraq (X tons) represented the major importers of soap, together achieving 52% of total imports. Saudi Arabia (X tons), Singapore (X tons), Malaysia (X tons), South Korea (X tons), Thailand (X tons) and Kazakhstan (X tons) took a minor share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the leading 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 ($X) constitutes the largest market for imported soap in Asia, comprising 33% of total imports. The second position in the ranking was taken by the United Arab Emirates ($X), with a 7.9% share of total imports. It was followed by Japan, with a 5.5% share.

From 2012 to 2021, the average annual rate of growth in terms of value in China stood at +38.3%. The remaining importing countries recorded the following average annual rates of imports growth: the United Arab Emirates (+4.0% per year) and Japan (-0.2% per year).

Import Prices by Country

In 2021, the import price in Asia amounted to $X per ton, growing by 34% against the previous year. Import price indicated a temperate increase from 2012 to 2021: its price increased at an average annual rate of +4.8% 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 +70.7% against 2016 indices. As a result, import price reached 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 ($X per ton), while Iraq ($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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