Colombia: Soap Market 2024

Soap Market Size in Colombia

After three years of growth, the Colombian soap market decreased by -2.9% to $X in 2021. In general, the total consumption indicated a pronounced expansion from 2012 to 2021: its value increased at an average annual rate of +3.6% 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 +47.4% against 2017 indices. As a result, consumption reached the peak level of $X, and then declined in the following year.

Soap Production in Colombia

In value terms, soap production contracted remarkably to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +1.9% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2020 with an increase of 48%. As a result, production reached the peak level of $X, and then shrank sharply in the following year.

Soap Exports

Exports from Colombia

In 2021, soap exports from Colombia declined remarkably to X tons, with a decrease of -46.2% compared with the previous year. Over the period under review, exports showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 with an increase of 76% against the previous year. As a result, the exports attained the peak of X tons, and then dropped sharply in the following year.

In value terms, soap exports fell markedly to $X in 2021. In general, exports saw a perceptible contraction. The pace of growth appeared the most rapid in 2020 with an increase of 87% against the previous year. As a result, the exports attained the peak of $X, and then dropped notably in the following year.

Exports by Country

Peru (X tons), Ecuador (X tons) and Cuba (X tons) were the main destinations of soap exports from Colombia, with a combined 74% share of total exports.

From 2012 to 2021, the biggest increases were recorded for Cuba (with a CAGR of +79.7%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for soap exported from Colombia were Peru ($X), Ecuador ($X) and Mexico ($X), with a combined 70% share of total exports. These countries were followed by Cuba, Venezuela, Panama, Costa Rica and Chile, which together accounted for a further 19%.

Among the main countries of destination, Cuba, with a CAGR of +65.4%, saw 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 average soap export price stood at $X per ton in 2021, remaining constant against the previous year. Over the period under review, the export price, however, recorded a mild slump. The most prominent rate of growth was recorded in 2020 an increase of 6.7% against the previous year. The export price peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices failed to regain momentum.

Prices varied noticeably country of destination: the country with the highest price was Mexico ($X per ton), while the average price for exports to Cuba ($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 Mexico (+1.4%), while the prices for the other major destinations experienced mixed trend patterns.

Soap Imports

Imports into Colombia

After two years of growth, purchases abroad of soap decreased by -1.7% to X tons in 2021. Over the period under review, total imports indicated strong 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. Based on 2021 figures, imports increased by +52.1% against 2016 indices. The most prominent rate of growth was recorded in 2017 when imports increased by 36% against the previous year. Over the period under review, imports attained the peak figure at X tons in 2020, and then contracted modestly in the following year.

In value terms, soap imports amounted to $X in 2021. The total import value increased at an average annual rate of +4.2% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2020 when imports increased by 25% against the previous year. Imports peaked in 2021 and are likely to continue growth in the near future.

Imports by Country

In 2021, China (X tons) constituted the largest supplier of soap to Colombia, accounting for a 33% share of total imports. Moreover, soap imports from China exceeded the figures recorded by the second-largest supplier, Free Zones (X tons), twofold. Spain (X tons) ranked third in terms of total imports with a 12% share.

From 2012 to 2021, the average annual growth rate of volume from China totaled +31.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Free Zones (+21.2% per year) and Spain (+23.3% per year).

In value terms, Brazil ($X), Free Zones ($X) and China ($X) appeared to be the largest soap suppliers to Colombia, with a combined 49% share of total imports. The United States, Spain, Mexico, Poland, Ecuador, the Netherlands, Turkey and Indonesia lagged somewhat behind, together accounting for a further 36%.

Poland, with a CAGR of +58.8%, saw the highest rates of growth with regard to the value of imports, in terms of the main suppliers 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, rising by 9.4% against the previous year. Over the period under review, the import price, however, continues to indicate a mild shrinkage. The most prominent rate of growth was recorded in 2020 when the average import price increased by 11%. Over the period under review, average import prices attained the maximum at $X per ton in 2016; however, from 2017 to 2021, import prices remained at a 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 States ($X per ton), while the price for China ($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 States (+4.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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