China: Soap Market 2024

Soap Market Size in China

After three years of growth, the Chinese soap market decreased by -4.7% to $X in 2021. Overall, the total consumption indicated measured growth from 2012 to 2021: its value increased at an average annual rate of +4.1% 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 increased by +23.7% against 2016 indices. As a result, consumption reached the peak level of $X, and then reduced in the following year.

Soap Production in China

In value terms, soap production declined to $X in 2021 estimated in export price. Overall, the total production indicated tangible growth from 2012 to 2021: its value increased at an average annual rate of +4.3% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +25.4% against 2016 indices. The most prominent rate of growth was recorded in 2020 with an increase of 33%. As a result, production attained the peak level of $X, and then fell in the following year.

Soap Exports

Exports from China

In 2021, after four years of growth, there was significant decline in shipments abroad of soap, when their volume decreased by -33.3% to X tons. Over the period under review, exports, however, continue to indicate a resilient expansion. The most prominent rate of growth was recorded in 2020 when exports increased by 106%. As a result, the exports attained the peak of X tons, and then dropped markedly in the following year.

In value terms, soap exports contracted remarkably to $X in 2021. Overall, exports, however, posted a resilient increase. The most prominent rate of growth was recorded in 2020 when exports increased by 110%. As a result, the exports attained the peak of $X, and then reduced dramatically in the following year.

Exports by Country

The United States (X tons) was the main destination for soap exports from China, with a 28% share of total exports. Moreover, soap exports to the United States exceeded the volume sent to the second major destination, Chile (X tons), fourfold. The third position in this ranking was taken by Australia (X tons), with a 7.5% share.

From 2012 to 2021, the average annual growth rate of volume to the United States stood at +9.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Chile (+42.5% per year) and Australia (+7.2% per year).

In value terms, the United States ($X) remains the key foreign market for soap exports from China, comprising 25% of total exports. The second position in the ranking was held by Australia ($X), with a 6.5% share of total exports. It was followed by Hong Kong SAR, with a 6.2% share.

From 2012 to 2021, the average annual growth rate of value to the United States amounted to +9.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Australia (+4.8% per year) and Hong Kong SAR (+11.2% per year).

Export Prices by Country

In 2021, the average soap export price amounted to $X per ton, rising by 4.7% against the previous year. Overall, the export price continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2016 an increase of 5.4% against the previous year. Over the period under review, the average export prices attained the peak figure at $X per ton in 2013; afterwards, it flattened through to 2021.

There were significant differences in the average prices for the major overseas markets. In 2021, the country with the highest price was the Philippines ($X per ton), while the average price for exports to Cuba ($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 Philippines (+7.2%), while the prices for the other major destinations experienced more modest paces of growth.

Soap Imports

Imports into China

In 2021, the amount of soap imported into China skyrocketed to X tons, increasing by 39% on 2020 figures. In general, imports continue to indicate a resilient increase. The pace of growth appeared the most rapid in 2015 when imports increased by 58%. Over the period under review, imports hit record highs in 2021 and are expected to retain growth in the near future.

In value terms, soap imports skyrocketed to $X in 2021. Over the period under review, imports enjoyed significant growth. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

Japan (X tons), Indonesia (X tons) and South Korea (X tons) were the main suppliers of soap imports to China, together comprising 64% of total imports. France, Italy, Malaysia, the United States, Germany, Vietnam and Taiwan (Chinese) lagged somewhat behind, together accounting for a further 28%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Italy (with a CAGR of +77.8%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Japan ($X), South Korea ($X) and France ($X) were the largest soap suppliers to China, with a combined 69% share of total imports. These countries were followed by the United States, Indonesia, Italy, Germany, Vietnam, Malaysia and Taiwan (Chinese), which together accounted for a further 17%.

In terms of the main suppliers, Italy, with a CAGR of +59.9%, saw the highest growth rate of 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

The average soap import price stood at $X per ton in 2021, picking up by 91% against the previous year. In general, the import price enjoyed a significant expansion. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably country of origin: the country with the highest price was the United States ($X per ton), while the price for Indonesia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by South Korea (+24.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :