India: Soap Market 2024

Soap Market Size in India

In 2021, after six years of growth, there was decline in the Indian soap market, when its value decreased by -0.9% to $X. Over the period under review, the total consumption indicated a perceptible increase from 2012 to 2021: its value increased at an average annual rate of +4.6% 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 +36.8% against 2013 indices. Soap consumption peaked at $X in 2020, and then declined modestly in the following year.

Soap Production in India

In value terms, soap production contracted to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +4.0% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2017 when the production volume increased by 16%. Over the period under review, production attained the maximum level at $X in 2020, and then dropped in the following year.

Soap Exports

Exports from India

In 2021, shipments abroad of soap decreased by -9.4% to X tons for the first time since 2017, thus ending a three-year rising trend. Overall, total exports indicated a temperate expansion from 2012 to 2021: its volume 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, exports increased by +21.8% against 2016 indices. The pace of growth was the most pronounced in 2020 when exports increased by 37%. As a result, the exports reached the peak of X tons, and then fell in the following year.

In value terms, soap exports reduced to $X in 2021. In general, total exports indicated a resilient increase from 2012 to 2021: its value increased at an average annual rate of +5.6% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +63.9% against 2012 indices. The most prominent rate of growth was recorded in 2020 with an increase of 32%. As a result, the exports attained the peak of $X, and then dropped in the following year.

Exports by Country

The United Arab Emirates (X tons), Nepal (X tons) and the United States (X tons) were the main destinations of soap exports from India, with a combined 48% share of total exports. These countries were followed by Iran, Singapore, Bangladesh, Saudi Arabia, Qatar, the UK, Bhutan, Somalia, Congo and Angola, which together accounted for a further 27%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Somalia (with a CAGR of +97.8%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for soap exported from India were the United Arab Emirates ($X), Nepal ($X) and the United States ($X), with a combined 43% share of total exports. Bangladesh, Singapore, Qatar, Saudi Arabia, the UK, Iran, Bhutan, Congo, Angola and Somalia lagged somewhat behind, together accounting for a further 30%.

Somalia, with a CAGR of +79.7%, saw the highest growth rate of the value of exports, among the main countries of destination 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 saw a relatively flat trend pattern. The growth pace was the most rapid in 2017 an increase of 15%. As a result, the export price reached the peak level of $X per ton. From 2018 to 2021, the average export prices remained at a somewhat lower figure.

There were significant differences in the average prices for the major export markets. In 2021, the country with the highest price was Bangladesh ($X per ton), while the average price for exports to Somalia ($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 Bangladesh (+11.2%), while the prices for the other major destinations experienced more modest paces of growth.

Soap Imports

Imports into India

In 2021, soap imports into India was estimated at X tons, increasing by 5.1% compared with 2020. Overall, imports enjoyed strong growth. The growth pace was the most rapid in 2017 with an increase of 70%. Imports peaked in 2021 and are likely to continue growth in the near future.

In value terms, soap imports skyrocketed to $X in 2021. Over the period under review, imports recorded a significant expansion. The pace of growth appeared the most rapid in 2017 with an increase of 62%. Over the period under review, imports reached the maximum in 2021 and are likely to see steady growth in years to come.

Imports by Country

In 2021, Indonesia (X tons) constituted the largest supplier of soap to India, with a 73% share of total imports. Moreover, soap imports from Indonesia exceeded the figures recorded by the second-largest supplier, Malaysia (X tons), fourfold.

From 2012 to 2021, the average annual rate of growth in terms of volume from Indonesia totaled +46.5%.

In value terms, Indonesia ($X) constituted the largest supplier of soap to India, comprising 79% of total imports. The second position in the ranking was held by Malaysia ($X), with a 10% share of total imports.

From 2012 to 2021, the average annual rate of growth in terms of value from Indonesia amounted to +53.3%.

Import Prices by Country

The average soap import price stood at $X per ton in 2021, rising by 51% against the previous year. Overall, import price indicated a notable expansion from 2012 to 2021: its price increased at an average annual rate of +4.0% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, soap import price increased by +72.4% against 2018 indices. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was Indonesia ($X per ton), while the price for Malaysia stood at $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Indonesia (+4.6%).

Source: IndexBox Platform

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