Panama: Soap And Detergent Market 2025

Soap And Detergent Market Size in Panama

In 2022, after four years of growth, there was decline in the Panamanian soap and detergent market, when its value decreased by X% to $X. Overall, consumption, however, showed a relatively flat trend pattern. Soap and detergent consumption peaked at $X in 2015; however, from 2016 to 2022, consumption failed to regain momentum.

Soap And Detergent Production in Panama

In value terms, soap and detergent production dropped slightly to $X in 2022 estimated in export price. In general, production, however, showed a abrupt curtailment. The pace of growth was the most pronounced in 2019 with an increase of X%. Soap and detergent production peaked at $X in 2015; however, from 2016 to 2022, production failed to regain momentum.

Soap And Detergent Exports

Exports from Panama

In 2022, approx. X tons of soap and detergents were exported from Panama; growing by X% on 2021. Over the period under review, exports, however, recorded a noticeable decline. Over the period under review, the exports hit record highs at X tons in 2020; however, from 2021 to 2022, the exports remained at a lower figure.

In value terms, soap and detergent exports surged to $X in 2022. In general, exports, however, saw a abrupt downturn. The exports peaked at $X in 2020; however, from 2021 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

The United States (X tons) was the main destination for soap and detergent exports from Panama, with a X% share of total exports. Moreover, soap and detergent exports to the United States exceeded the volume sent to the second major destination, Cuba (X tons), twofold. The third position in this ranking was held by Costa Rica (X tons), with an X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to the United States stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Cuba (X% per year) and Costa Rica (X% per year).

In value terms, the United States ($X), Trinidad and Tobago ($X) and Cuba ($X) appeared to be the largest markets for soap and detergent exported from Panama worldwide, with a combined X% share of total exports. Costa Rica, Venezuela, El Salvador, Free Zones, Colombia, Honduras, the Dominican Republic and Nicaragua lagged somewhat behind, together accounting for a further X%.

In terms of the main countries of destination, Free Zones, with a CAGR of X%, saw 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 and detergent export price stood at $X per ton in 2022, increasing by X% against the previous year. In general, the export price, however, saw a pronounced shrinkage. Over the period under review, the average export prices attained the maximum at $X per ton in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Trinidad and Tobago ($X per ton), while the average price for exports to Free Zones ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Venezuela (X%), while the prices for the other major destinations experienced more modest paces of growth.

Soap And Detergent Imports

Imports into Panama

In 2022, the amount of soap and detergents imported into Panama shrank to X tons, with a decrease of X% on the previous year's figure. Overall, imports, however, showed significant growth. The growth pace was the most rapid in 2017 with an increase of X%. Over the period under review, imports reached the maximum at X tons in 2018; however, from 2019 to 2022, imports failed to regain momentum.

In value terms, soap and detergent imports contracted slightly to $X in 2022. Over the period under review, imports, however, continue to indicate a significant increase. The pace of growth was the most pronounced in 2017 with an increase of X% against the previous year. Imports peaked at $X in 2018; however, from 2019 to 2022, imports remained at a lower figure.

Imports by Country

Guatemala (X tons), Colombia (X tons) and Costa Rica (X tons) were the main suppliers of soap and detergent imports to Panama, together accounting for X% of total imports.

From 2012 to 2022, the biggest increases were recorded for Costa Rica (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest soap and detergent suppliers to Panama were Guatemala ($X), the United States ($X) and Mexico ($X), with a combined X% share of total imports. Colombia, Costa Rica, China and El Salvador lagged somewhat behind, together accounting for a further X%.

Among the main suppliers, Costa Rica, with a CAGR of X%, recorded 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 and detergent import price stood at $X per ton in 2022, growing by X% against the previous year. In general, the import price, however, saw a abrupt curtailment. The pace of growth was the most pronounced in 2014 when the average import price increased by X%. As a result, import price attained the peak level of $X per ton. From 2015 to 2022, the average import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the United States ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Mexico (X%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform