Bangladesh: Soap Market 2024

Soap Market Size in Bangladesh

In 2021, after two years of growth, there was decline in the Bangladeshi soap market, when its value decreased by -1.3% to $X. The market value increased at an average annual rate of +1.8% over the period from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Soap consumption peaked at $X in 2016; however, from 2017 to 2021, consumption stood at a somewhat lower figure.

Soap Production in Bangladesh

In value terms, soap production contracted modestly to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +1.4% over the period from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2019 with an increase of 44% against the previous year. Over the period under review, production attained the peak level at $X in 2016; however, from 2017 to 2021, production stood at a somewhat lower figure.

Soap Exports

Exports from Bangladesh

In 2021, overseas shipments of soap decreased by -13.9% to X tons, falling for the third year in a row after two years of growth. In general, exports recorded a abrupt descent. The most prominent rate of growth was recorded in 2018 with an increase of 16%. The exports peaked at X tons in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

In value terms, soap exports reduced to $X in 2021. Overall, exports continue to indicate a deep downturn. The most prominent rate of growth was recorded in 2017 when exports increased by 6.6% against the previous year. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

India (X tons) was the main destination for soap exports from Bangladesh, with a 76% share of total exports. Moreover, soap exports to India exceeded the volume sent to the second major destination, Malaysia (X tons), sixfold. Saudi Arabia (X tons) ranked third in terms of total exports with a 3.7% share.

From 2012 to 2021, the average annual growth rate of volume to India stood at -15.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Malaysia (+36.0% per year) and Saudi Arabia (-1.3% per year).

In value terms, India ($X) remains the key foreign market for soap exports from Bangladesh, comprising 70% of total exports. The second position in the ranking was held by Malaysia ($X), with a 10% share of total exports. It was followed by the United States, with a 5.5% share.

From 2012 to 2021, the average annual rate of growth in terms of value to India amounted to -14.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Malaysia (+42.7% per year) and the United States (+7.8% per year).

Export Prices by Country

In 2021, the average soap export price amounted to $X per ton, increasing by 4.7% against the previous year. Over the last nine-year period, it increased at an average annual rate of +1.6%. The most prominent rate of growth was recorded in 2019 an increase of 33% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2020 to 2021, the average export prices remained at a somewhat lower figure.

There were significant differences in the average prices for the major external markets. In 2021, the country with the highest price was the United States ($X per ton), while the average price for exports to Saudi Arabia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to the United States (+13.3%), while the prices for the other major destinations experienced more modest paces of growth.

Soap Imports

Imports into Bangladesh

Soap imports into Bangladesh stood at X tons in 2021, with an increase of 4.7% against the previous year. In general, imports continue to indicate a strong increase. The most prominent rate of growth was recorded in 2013 with an increase of 41%. Over the period under review, imports hit record highs in 2021 and are likely to see gradual growth in the immediate term.

In value terms, soap imports reached $X in 2021. Overall, imports showed a resilient expansion. The growth pace was the most rapid in 2016 with an increase of 40%. Imports peaked in 2021 and are likely to see steady growth in years to come.

Imports by Country

Malaysia (X tons), Indonesia (X tons) and India (X tons) were the main suppliers of soap imports to Bangladesh, together accounting for 44% of total imports. Germany, Thailand, the UK, Turkey, Singapore, the United Arab Emirates and China lagged somewhat behind, together accounting for a further 9.6%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by the UK (with a CAGR of +55.7%), while imports for the other leaders experienced more modest paces of growth.

In value terms, India ($X), Malaysia ($X) and Indonesia ($X) appeared to be the largest soap suppliers to Bangladesh, together comprising 41% of total imports. Thailand, Germany, the United Arab Emirates, Singapore, China, Turkey and the UK lagged somewhat behind, together comprising a further 21%.

In terms of the main suppliers, the UK, with a CAGR of +36.0%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average soap import price amounted to $X per ton, declining by -3.4% against the previous year. In general, the import price saw a perceptible descent. The most prominent rate of growth was recorded in 2017 an increase of 16%. Over the period under review, average import prices reached the peak figure 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 supplying countries. In 2021, the country with the highest price was the United Arab Emirates ($X per ton), while the price for Indonesia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+3.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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