Oman: Soap Market 2024

Soap Market Size in Oman

For the third year in a row, the Omani soap market recorded growth in sales value, which increased by 70% to $X in 2021. Over the period under review, consumption recorded a resilient increase. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Soap Production in Oman

In value terms, soap production reduced to $X in 2021 estimated in export price. Over the period under review, production, however, continues to indicate a significant expansion. The most prominent rate of growth was recorded in 2016 when the production volume increased by 419%. Over the period under review, production hit record highs at $X in 2020, and then contracted in the following year.

Soap Exports

Exports from Oman

In 2021, shipments abroad of soap increased by 48% to X tons for the first time since 2018, thus ending a two-year declining trend. Over the period under review, exports recorded a resilient increase. The growth pace was the most rapid in 2017 when exports increased by 165% against the previous year. The exports peaked in 2021 and are expected to retain growth in years to come.

In value terms, soap exports soared to $X in 2021. Overall, exports recorded a remarkable increase. The pace of growth was the most pronounced in 2017 with an increase of 424% against the previous year. Over the period under review, the exports reached the maximum at $X in 2018; however, from 2019 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Yemen (X tons), Qatar (X tons) and the United Arab Emirates (X tons) were the main destinations of soap exports from Oman, together accounting for 64% of total exports.

From 2012 to 2021, the biggest increases were recorded for Yemen (with a CAGR of +52.9%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Qatar ($X) remains the key foreign market for soap exports from Oman, comprising 66% of total exports. The second position in the ranking was held by the United Arab Emirates ($X), with a 7.8% share of total exports. It was followed by Yemen, with a 6.8% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Qatar stood at +48.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United Arab Emirates (-9.4% per year) and Yemen (+18.0% per year).

Export Prices by Country

In 2021, the average soap export price amounted to $X per ton, with a decrease of -20.1% against the previous year. Over the period under review, the export price, however, recorded a perceptible expansion. The growth pace was the most rapid in 2017 an increase of 98% against the previous year. Over the period under review, the average export prices attained the peak figure at $X per ton in 2018; however, from 2019 to 2021, the export prices remained at a lower figure.

Prices varied noticeably country of destination: the country with the highest price was Qatar ($X per ton), while the average price for exports to Yemen ($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 Egypt (+18.3%), while the prices for the other major destinations experienced more modest paces of growth.

Soap Imports

Imports into Oman

In 2021, supplies from abroad of soap increased by 40% to X tons, rising for the second year in a row after two years of decline. Overall, imports continue to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2017 with an increase of 103% against the previous year. Over the period under review, imports attained the maximum at X tons in 2013; however, from 2014 to 2021, imports stood at a somewhat lower figure.

In value terms, soap imports soared to $X in 2021. Over the period under review, imports saw a resilient increase. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, the United Arab Emirates (X tons) was the main supplier of soap to Oman, accounting for a 158% share of total imports. Moreover, soap imports from the United Arab Emirates exceeded the figures recorded by the second-largest supplier, Saudi Arabia (X tons), more than tenfold.

From 2012 to 2021, the average annual rate of growth in terms of volume from the United Arab Emirates stood at +23.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Saudi Arabia (-19.7% per year) and Malaysia (-14.2% per year).

In value terms, the United Arab Emirates ($X) constituted the largest supplier of soap to Oman, comprising 92% of total imports. The second position in the ranking was held by Saudi Arabia ($X), with a 1.6% share of total imports.

From 2012 to 2021, the average annual rate of growth in terms of value from the United Arab Emirates stood at +29.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Saudi Arabia (-24.5% per year) and Malaysia (-11.3% per year).

Import Prices by Country

In 2021, the average soap import price amounted to $X per ton, jumping by 97% against the previous year. In general, the import price saw buoyant growth. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably country of origin: the country with the highest price was the United Arab Emirates ($X per ton), while the price for Malaysia ($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 Arab Emirates (+5.3%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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