Latin America and the Caribbean: Soap Market 2024

Soap Market Size in Latin America and the Caribbean

After three years of growth, the Latin American soap market decreased by -4% to $X in 2021. The market value increased at an average annual rate of +1.3% from 2012 to 2021; however, the trend pattern remained relatively stable, with somewhat noticeable fluctuations in certain years. As a result, consumption reached the peak level of $X, and then reduced modestly in the following year.

Soap Production in Latin America and the Caribbean

In value terms, soap production dropped to $X in 2021 estimated in export price. Overall, production, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2020 with an increase of 12%. As a result, production reached the peak level of $X, and then reduced in the following year.

Soap Exports

Exports in Latin America and the Caribbean

After two years of growth, overseas shipments of soap decreased by -0.4% to X tons in 2021. Total exports indicated a resilient increase from 2012 to 2021: its volume increased at an average annual rate of +5.7% 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 +40.2% against 2018 indices. The most prominent rate of growth was recorded in 2013 with an increase of 28%. Over the period under review, the exports reached the maximum at X tons in 2020, and then contracted modestly in the following year.

In value terms, soap exports declined to $X in 2021. The total export value increased at an average annual rate of +3.9% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2020 when exports increased by 28%. As a result, the exports reached the peak of $X, and then dropped in the following year.

Exports by Country

In 2021, Mexico (X tons) represented the main exporter of soap, committing 36% of total exports. Guatemala (X tons) held the second position in the ranking, followed by Honduras (X tons), Brazil (X tons) and Colombia (X tons). All these countries together took near 56% share of total exports. Argentina (X tons) followed a long way behind the leaders.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the key exporting countries, was attained by Guatemala (with a CAGR of +9.5%), while the other leaders experienced more modest paces of growth.

In value terms, Mexico ($X) remains the largest soap supplier in Latin America and the Caribbean, comprising 38% of total exports. The second position in the ranking was taken by Brazil ($X), with a 16% share of total exports. It was followed by Honduras, with a 15% share.

In Mexico, soap exports expanded at an average annual rate of +8.0% over the period from 2012-2021. The remaining exporting countries recorded the following average annual rates of exports growth: Brazil (+0.7% per year) and Honduras (+8.5% per year).

Export Prices by Country

The export price in Latin America and the Caribbean stood at $X per ton in 2021, with a decrease of -4.9% against the previous year. Overall, the export price showed a slight descent. The pace of growth was the most pronounced in 2014 when the export price increased by 5.7% against the previous year. The level of export peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably country of origin: the country with the highest price was Brazil ($X per ton), while Guatemala ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Honduras (+0.2%), while the other leaders experienced a decline in the export price figures.

Soap Imports

Imports in Latin America and the Caribbean

For the tenth year in a row, LatAmerica and the Caribbean recorded growth in overseas purchases of soap, which increased by 3.5% to X tons in 2021. Total imports indicated buoyant growth from 2012 to 2021: its volume increased at an average annual rate of +6.3% 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 +73.3% against 2012 indices. The pace of growth was the most pronounced in 2020 when imports increased by 17%. The volume of import peaked in 2021 and is expected to retain growth in the immediate term.

In value terms, soap imports expanded sharply to $X in 2021. The total import value increased at an average annual rate of +3.8% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2020 with an increase of 14% against the previous year. The level of import peaked in 2021 and is likely to see steady growth in years to come.

Imports by Country

Mexico (X tons), El Salvador (X tons), Cuba (X tons), Guatemala (X tons), Chile (X tons), Peru (X tons), Venezuela (X tons), Nicaragua (X tons), Colombia (X tons), Costa Rica (X tons), Argentina (X tons) and Honduras (X tons) represented roughly 81% of total imports in 2021.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Chile (with a CAGR of +14.1%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Mexico ($X), Chile ($X) and El Salvador ($X) constituted the countries with the highest levels of imports in 2021, together accounting for 32% of total imports.

Chile, with a CAGR of +9.1%, recorded the highest rates of growth with regard to the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the import price in Latin America and the Caribbean amounted to $X per ton, surging by 3.5% against the previous year. Over the period under review, the import price, however, showed a noticeable downturn. The level of import peaked at $X per ton in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2021, the country with the highest price was Argentina ($X per ton), while Cuba ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by El Salvador (+0.1%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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