China: Market for Soap In Different Forms 2024

Market Size for Soap In Different Forms in China

The Chinese soap in different forms market amounted to $X in 2021, growing by 1.7% against the previous year. Overall, the total consumption indicated prominent growth from 2012 to 2021: its value increased at an average annual rate of +8.1% 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 decreased by -0.9% against 2019 indices. Soap in different forms consumption peaked at $X in 2019; afterwards, it flattened through to 2021.

Production of Soap In Different Forms in China

In value terms, soap in different forms production reached $X in 2021 estimated in export price. In general, production saw a resilient expansion. The most prominent rate of growth was recorded in 2016 when the production volume increased by 40% against the previous year. Soap in different forms production peaked at $X in 2019; afterwards, it flattened through to 2021.

Exports of Soap In Different Forms

Exports from China

Soap in different forms exports from China contracted notably to X tons in 2021, with a decrease of -30.4% compared with the year before. Over the period under review, exports showed a slight shrinkage. The most prominent rate of growth was recorded in 2014 with an increase of 100%. As a result, the exports reached the peak of X tons. From 2015 to 2021, the growth of the exports remained at a lower figure.

In value terms, soap in different forms exports reduced rapidly to $X in 2021. In general, total exports indicated a modest increase from 2012 to 2021: its value increased at an average annual rate of +1.9% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports decreased by -41.2% against 2015 indices. The pace of growth was the most pronounced in 2014 when exports increased by 98%. Over the period under review, the exports hit record highs at $X in 2015; however, from 2016 to 2021, the exports remained at a lower figure.

Exports by Country

Cuba (X tons) was the main destination for soap in different forms exports from China, accounting for a 52% share of total exports. Moreover, soap in different forms exports to Cuba exceeded the volume sent to the second major destination, the United States (X tons), more than tenfold. Japan (X tons) ranked third in terms of total exports with a 2.3% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Cuba was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+13.9% per year) and Japan (-6.3% per year).

In value terms, Cuba ($X) remains the key foreign market for soap in different forms exports from China, comprising 38% of total exports. The second position in the ranking was held by the United States ($X), with an 11% share of total exports. It was followed by Japan, with a 9.7% share.

From 2012 to 2021, the average annual growth rate of value to Cuba was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+18.6% per year) and Japan (+10.7% per year).

Export Prices by Country

The average soap in different forms export price stood at $X per ton in 2021, rising by 12% against the previous year. Over the last nine-year period, it increased at an average annual rate of +3.2%. The pace of growth was the most pronounced in 2016 when the average export price increased by 28%. The export price peaked in 2021 and is likely to continue growth in the near future.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Japan ($X per ton), while the average price for exports to Tajikistan ($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 Tajikistan (+19.6%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Soap In Different Forms

Imports into China

In 2021, purchases abroad of soap in different forms increased by 10% to X tons for the first time since 2018, thus ending a two-year declining trend. Overall, imports posted a slight expansion. The most prominent rate of growth was recorded in 2015 when imports increased by 139%. Over the period under review, imports reached the peak figure at X tons in 2018; however, from 2019 to 2021, imports remained at a lower figure.

In value terms, soap in different forms imports soared to $X in 2021. Over the period under review, imports continue to indicate modest growth. The most prominent rate of growth was recorded in 2015 when imports increased by 114%. Imports peaked at $X in 2017; however, from 2018 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, Indonesia (X tons) constituted the largest soap in different forms supplier to China, accounting for a 71% share of total imports. Moreover, soap in different forms imports from Indonesia exceeded the figures recorded by the second-largest supplier, Malaysia (X tons), fourfold.

From 2012 to 2021, the average annual growth rate of volume from Indonesia totaled +11.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Malaysia (-12.9% per year) and Italy (+134.4% per year).

In value terms, Indonesia ($X) constituted the largest supplier of soap in different forms to China, comprising 69% of total imports. The second position in the ranking was taken by Malaysia ($X), with a 16% share of total imports.

From 2012 to 2021, the average annual growth rate of value from Indonesia totaled +10.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Malaysia (-12.9% per year) and Italy (+86.7% per year).

Import Prices by Country

In 2021, the average soap in different forms import price amounted to $X per ton, with an increase of 26% against the previous year. Overall, the import price continues to indicate a relatively flat trend pattern. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

Average prices varied noticeably amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Italy ($X per ton), while the price for Malaysia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Malaysia (-0.0%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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