Myanmar: Soap Market 2024

Soap Market Size in Myanmar

The Myanmar's soap market declined to $X in 2021, waning by -12.3% against the previous year. Overall, consumption recorded a pronounced decrease. Over the period under review, the market hit record highs at $X in 2012; however, from 2013 to 2021, consumption failed to regain momentum.

Soap Production in Myanmar

In value terms, soap production reduced to $X in 2021 estimated in export price. In general, production saw a perceptible setback. The growth pace was the most rapid in 2020 when the production volume increased by 37%. Over the period under review, production reached the maximum level at $X in 2012; however, from 2013 to 2021, production failed to regain momentum.

Soap Exports

Exports from Myanmar

In 2021, overseas shipments of soap decreased by -12.1% to X tons, falling for the second year in a row after two years of growth. Over the period under review, exports, however, continue to indicate a buoyant expansion. The growth pace was the most rapid in 2014 when exports increased by 359%. Over the period under review, the exports hit record highs at X tons in 2015; however, from 2016 to 2021, the exports remained at a lower figure.

In value terms, soap exports contracted sharply to $X in 2021. Overall, exports, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2014 with an increase of 217% against the previous year. As a result, the exports reached the peak of $X. From 2015 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

India (X tons) was the main destination for soap exports from Myanmar, accounting for a 85% share of total exports. Moreover, soap exports to India exceeded the volume sent to the second major destination, Malaysia (X tons), more than tenfold. Bangladesh (X tons) ranked third in terms of total exports with a 2.7% share.

From 2012 to 2021, the average annual growth rate of volume to India totaled +15.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Malaysia (+9.0% per year) and Bangladesh (+31.7% per year).

In value terms, India ($X) remains the key foreign market for soap exports from Myanmar, comprising 69% of total exports. The second position in the ranking was held by Thailand ($X), with an 8.3% share of total exports. It was followed by Bangladesh, with a 6.7% share.

From 2012 to 2021, the average annual growth rate of value to India was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Thailand (-2.9% per year) and Bangladesh (+26.1% per year).

Export Prices by Country

The average soap export price stood at $X per ton in 2021, shrinking by -4.7% against the previous year. In general, the export price recorded a deep slump. The most prominent rate of growth was recorded in 2016 when the average export price increased by 63% against the previous year. Over the period under review, the average export prices reached the peak figure at $X per ton in 2013; however, from 2014 to 2021, the export prices remained at a lower figure.

Prices varied noticeably country of destination: the country with the highest price was Thailand ($X per ton), while the average price for exports to Malaysia ($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 Thailand (-2.3%), while the prices for the other major destinations experienced a decline.

Soap Imports

Imports into Myanmar

After three years of growth, overseas purchases of soap decreased by -7.5% to X tons in 2021. Overall, total imports indicated pronounced growth from 2012 to 2021: its volume increased at an average annual rate of +3.0% 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 +25.7% against 2017 indices. The growth pace was the most rapid in 2015 with an increase of 83%. Over the period under review, imports reached the maximum at X tons in 2020, and then contracted in the following year.

In value terms, soap imports declined to $X in 2021. In general, total imports indicated a strong increase from 2012 to 2021: its value increased at an average annual rate of +5.3% 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 +80.3% against 2014 indices. The pace of growth was the most pronounced in 2015 when imports increased by 33%. Over the period under review, imports attained the peak figure at $X in 2020, and then fell in the following year.

Imports by Country

Indonesia (X tons), Thailand (X tons) and Malaysia (X tons) were the main suppliers of soap imports to Myanmar, with a combined 85% share of total imports.

From 2012 to 2021, the biggest increases were recorded for Indonesia (with a CAGR of +10.3%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest soap suppliers to Myanmar were Indonesia ($X), Thailand ($X) and Malaysia ($X), together comprising 85% of total imports.

Among the main suppliers, Indonesia, with a CAGR of +21.5%, saw the highest growth rate of the value of imports, 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, declining by -3.4% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +2.2%. The pace of growth was the most pronounced in 2014 an increase of 59%. As a result, import price attained the peak level of $X per ton. From 2015 to 2021, the average import prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Singapore (+11.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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