Mexico: Soap Market 2024

Soap Market Size in Mexico

In 2021, after six years of growth, there was significant decline in the Mexican soap market, when its value decreased by -15.4% to $X. Overall, consumption, however, continues to indicate a relatively flat trend pattern. As a result, consumption reached the peak level of $X, and then declined significantly in the following year.

Soap Production in Mexico

In value terms, soap production fell to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +2.5% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2020 with an increase of 19%. As a result, production reached the peak level of $X, and then dropped in the following year.

Soap Exports

Exports from Mexico

In 2021, exports of soap from Mexico skyrocketed to X tons, increasing by 24% against the previous year's figure. In general, exports posted a buoyant increase. The pace of growth appeared the most rapid in 2020 when exports increased by 55%. The exports peaked in 2021 and are expected to retain growth in years to come.

In value terms, soap exports reduced slightly to $X in 2021. Over the period under review, exports recorded a resilient expansion. The pace of growth was the most pronounced in 2020 with an increase of 43%. As a result, the exports attained the peak of $X, leveling off in the following year.

Exports by Country

The United States (X tons) was the main destination for soap exports from Mexico, accounting for a 84% share of total exports. Moreover, soap exports to the United States exceeded the volume sent to the second major destination, Cuba (X tons), more than tenfold. The third position in this ranking was held by Guatemala (X tons), with a 2.4% share.

From 2012 to 2021, the average annual growth rate of volume to the United States amounted to +18.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Cuba (-4.9% per year) and Guatemala (-7.0% per year).

In value terms, the United States ($X) remains the key foreign market for soap exports from Mexico, comprising 79% of total exports. The second position in the ranking was held by Guatemala ($X), with a 3.8% share of total exports. It was followed by Cuba, with a 2.6% share.

From 2012 to 2021, the average annual rate of growth in terms of value to the United States totaled +15.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Guatemala (-3.6% per year) and Cuba (-3.0% per year).

Export Prices by Country

The average soap export price stood at $X per ton in 2021, reducing by -19.8% against the previous year. In general, the export price saw a slight downturn. The most prominent rate of growth was recorded in 2014 an increase of 45%. Over the period under review, the average export prices attained the maximum at $X per ton in 2018; however, from 2019 to 2021, the export prices failed to regain momentum.

Prices varied noticeably country of destination: the country with the highest price was Guatemala ($X per ton), while the average price for exports to Cuba ($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 Canada (+6.4%), while the prices for the other major destinations experienced more modest paces of growth.

Soap Imports

Imports into Mexico

For the fourth year in a row, Mexico recorded growth in purchases abroad of soap, which increased by 21% to X tons in 2021. Over the period under review, total imports indicated a prominent increase from 2012 to 2021: its volume increased at an average annual rate of +8.7% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +111.0% against 2012 indices. The most prominent rate of growth was recorded in 2013 with an increase of 23%. Imports peaked in 2021 and are expected to retain growth in years to come.

In value terms, soap imports expanded notably to $X in 2021. The total import value increased at an average annual rate of +6.1% over the period 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 2013 with an increase of 15%. Imports peaked in 2021 and are expected to retain growth in the immediate term.

Imports by Country

The United States (X tons), Germany (X tons) and China (X tons) were the main suppliers of soap imports to Mexico, with a combined 50% share of total imports. Brazil, France, Canada, Colombia, Guatemala and Israel lagged somewhat behind, together comprising a further 14%.

From 2012 to 2021, the biggest increases were recorded for Colombia (with a CAGR of +29.6%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X) constituted the largest supplier of soap to Mexico, comprising 44% of total imports. The second position in the ranking was taken by Germany ($X), with a 19% share of total imports. It was followed by France, with a 9.8% share.

From 2012 to 2021, the average annual rate of growth in terms of value from the United States amounted to +6.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+5.0% per year) and France (+21.5% per year).

Import Prices by Country

The average soap import price stood at $X per ton in 2021, waning by -7.2% against the previous year. Overall, the import price continues to indicate a noticeable decline. The growth pace was the most rapid in 2014 when the average import price increased by 9.5%. As a result, import price reached the peak level of $X per ton. From 2015 to 2021, the average import prices remained at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Israel (+8.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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