Japan: Soap Market 2024

Soap Market Size in Japan

In 2021, the Japanese soap market decreased by -10.3% to $X for the first time since 2018, thus ending a two-year rising trend. In general, consumption, however, saw a relatively flat trend pattern. Soap consumption peaked at $X in 2020, and then reduced in the following year.

Soap Production in Japan

In value terms, soap production declined to $X in 2021 estimated in export price. In general, production, however, saw slight growth. The pace of growth was the most pronounced in 2017 when the production volume increased by 103% against the previous year. Soap production peaked at $X in 2020, and then declined in the following year.

Soap Exports

Exports from Japan

In 2021, approx. X tons of soap were exported from Japan; picking up by 3% on 2020 figures. In general, exports showed a significant expansion. The pace of growth was the most pronounced in 2013 when exports increased by 42% against the previous year. Over the period under review, the exports hit record highs at X tons in 2019; however, from 2020 to 2021, the exports failed to regain momentum.

In value terms, soap exports expanded sharply to $X in 2021. Over the period under review, exports posted a significant increase. The growth pace was the most rapid in 2017 when exports increased by 55%. Over the period under review, the exports attained the peak figure in 2021 and are likely to continue growth in the near future.

Exports by Country

China (X tons) was the main destination for soap exports from Japan, with a 63% share of total exports. Moreover, soap exports to China exceeded the volume sent to the second major destination, Hong Kong SAR (X tons), sixfold. Taiwan (Chinese) (X tons) ranked third in terms of total exports with an 8.7% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to China stood at +28.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Hong Kong SAR (+17.9% per year) and Taiwan (Chinese) (+9.0% per year).

In value terms, China ($X) remains the key foreign market for soap exports from Japan, comprising 58% of total exports. The second position in the ranking was taken by South Korea ($X), with a 12% share of total exports. It was followed by Hong Kong SAR, with a 10% share.

From 2012 to 2021, the average annual rate of growth in terms of value to China totaled +33.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: South Korea (+33.1% per year) and Hong Kong SAR (+18.8% per year).

Export Prices by Country

The average soap export price stood at $X per ton in 2021, picking up by 8.7% against the previous year. Over the period under review, export price indicated mild growth from 2012 to 2021: its price increased at an average annual rate of +1.6% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, soap export price increased by +77.4% against 2014 indices. The pace of growth was the most pronounced in 2020 when the average export price increased by 19%. The export price peaked in 2021 and is expected to retain growth in the near future.

Prices varied noticeably country of destination: the country with the highest price was South Korea ($X per ton), while the average price for exports to Vietnam ($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 South Korea (+12.7%), while the prices for the other major destinations experienced more modest paces of growth.

Soap Imports

Imports into Japan

In 2021, overseas purchases of soap decreased by -23.3% to X tons for the first time since 2018, thus ending a two-year rising trend. Overall, imports recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2020 with an increase of 17% against the previous year. As a result, imports reached the peak of X tons, and then shrank remarkably in the following year.

In value terms, soap imports shrank to $X in 2021. In general, imports recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2020 with an increase of 21%. As a result, imports attained the peak of $X, and then dropped in the following year.

Imports by Country

China (X tons), Thailand (X tons) and Malaysia (X tons) were the main suppliers of soap imports to Japan, with a combined 65% share of total imports. These countries were followed by Vietnam, the UK, Indonesia and the United States, which together accounted 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 the UK (with a CAGR of +26.5%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest soap suppliers to Japan were China ($X), Thailand ($X) and the United States ($X), with a combined 44% share of total imports. Vietnam, Malaysia, the UK and Indonesia lagged somewhat behind, together comprising a further 29%.

The UK, with a CAGR of +11.3%, saw the highest growth rate of the value of imports, among the main suppliers 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, rising by 12% against the previous year. Overall, the import price saw a relatively flat trend pattern. As a result, import price reached 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 the United States ($X per ton), while the price for Malaysia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United States (+10.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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