Malaysia: Soap Market 2024

Soap Market Size in Malaysia

In 2021, the Malaysian soap market increased by 137% to $X, rising for the second year in a row after two years of decline. In general, consumption continues to indicate a prominent increase. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Soap Production in Malaysia

In value terms, soap production shrank slightly to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +4.8% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2017 when the production volume increased by 31% against the previous year. Soap production peaked at $X in 2018; however, from 2019 to 2021, production failed to regain momentum.

Soap Exports

Exports from Malaysia

In 2021, shipments abroad of soap decreased by -23.5% to X tons, falling for the second year in a row after three years of growth. Overall, total exports indicated a buoyant expansion from 2012 to 2021: its volume increased at an average annual rate of +5.8% 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 decreased by -30.2% against 2019 indices. The most prominent rate of growth was recorded in 2013 with an increase of 69% against the previous year. The exports peaked at X tons in 2019; however, from 2020 to 2021, the exports stood at a somewhat lower figure.

In value terms, soap exports declined modestly to $X in 2021. The total export value increased at an average annual rate of +4.6% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2017 with an increase of 29%. The exports peaked at $X in 2018; however, from 2019 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

The United Arab Emirates (X tons), Turkey (X tons) and the Philippines (X tons) were the main destinations of soap exports from Malaysia, together comprising 25% of total exports. India, Nigeria, Iraq, Singapore, Egypt, Russia, South Africa, Thailand, France and Japan lagged somewhat behind, together comprising a further 37%.

From 2012 to 2021, the biggest increases were recorded for Iraq (with a CAGR of +177.2%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for soap exported from Malaysia were the United Arab Emirates ($X), Turkey ($X) and the Philippines ($X), together accounting for 24% of total exports. Iraq, India, Singapore, Japan, Nigeria, Russia, South Africa, Thailand, Egypt and France lagged somewhat behind, together accounting for a further 38%.

In terms of the main countries of destination, Iraq, with a CAGR of +179.4%, recorded 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, jumping by 29% against the previous year. Over the period under review, the export price, however, continues to indicate a slight reduction. Over the period under review, the average export prices reached the peak figure at $X per ton in 2012; however, from 2013 to 2021, the export prices stood 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 Japan ($X per ton), while the average price for exports to India ($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 Turkey (+1.1%), while the prices for the other major destinations experienced more modest paces of growth.

Soap Imports

Imports into Malaysia

In 2021, supplies from abroad of soap was finally on the rise to reach X tons after two years of decline. In general, total imports indicated a remarkable increase from 2012 to 2021: its volume increased at an average annual rate of +7.8% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2014 when imports increased by 55%. Imports peaked in 2021 and are expected to retain growth in the near future.

In value terms, soap imports stood at $X in 2021. Overall, total imports indicated prominent growth from 2012 to 2021: its value increased at an average annual rate of +7.3% 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 +15.7% against 2014 indices. The growth pace was the most rapid in 2014 with an increase of 58% against the previous year. Over the period under review, imports hit record highs in 2021 and are likely to continue growth in years to come.

Imports by Country

In 2021, Indonesia (X tons) constituted the largest soap supplier to Malaysia, with a 55% share of total imports. Moreover, soap imports from Indonesia exceeded the figures recorded by the second-largest supplier, China (X tons), fourfold. The third position in this ranking was held by Thailand (X tons), with a 10% share.

From 2012 to 2021, the average annual growth rate of volume from Indonesia stood at +7.5%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+20.1% per year) and Thailand (-0.9% per year).

In value terms, Indonesia ($X) constituted the largest supplier of soap to Malaysia, comprising 29% of total imports. The second position in the ranking was taken by Thailand ($X), with a 12% share of total imports. It was followed by the United States, with an 11% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Indonesia amounted to +3.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Thailand (+1.6% per year) and the United States (+5.9% per year).

Import Prices by Country

In 2021, the average soap import price amounted to $X per ton, dropping by -17.5% against the previous year. Over the period under review, the import price recorded a relatively flat trend pattern. The growth pace was the most rapid in 2017 when the average import price increased by 14% against the previous year. Over the period under review, average import prices attained the peak figure at $X per ton in 2020, and then fell significantly in the following year.

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 ($X per ton), while the price for the Philippines ($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 (+4.4%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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