Panama: Market for Soap And Organic Surface-Active Products In Bars For Toilet Use 2024

Market Size for Soap And Organic Surface-Active Products In Bars For Toilet Use in Panama

For the fifth year in a row, the Panamanian market for soap and organic surface-active products in bars for toilet use recorded growth in sales value, which increased by 13% to $X in 2022. Over the period under review, the total consumption indicated prominent growth from 2012 to 2022: its value increased at an average annual rate of +8.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +75.5% against 2017 indices. Over the period under review, the market reached the maximum level in 2022 and is likely to see gradual growth in years to come.

Production of Soap And Organic Surface-Active Products In Bars For Toilet Use in Panama

In value terms, production of soap and organic surface-active products in bars for toilet use skyrocketed to $X in 2022 estimated in export price. In general, production, however, showed a deep slump. Over the period under review, production of reached the peak level at $X in 2014; however, from 2015 to 2022, production failed to regain momentum.

Exports of Soap And Organic Surface-Active Products In Bars For Toilet Use

Exports from Panama

In 2022, overseas shipments of soap and organic surface-active products in bars for toilet use decreased by -77.3% to X tons, falling for the second year in a row after two years of growth. In general, exports saw a precipitous descent. The most prominent rate of growth was recorded in 2013 with an increase of 134% against the previous year. The exports peaked at X tons in 2020; however, from 2021 to 2022, the exports failed to regain momentum.

In value terms, exports of soap and organic surface-active products in bars for toilet use declined remarkably to $X in 2022. Overall, exports showed a dramatic decline. The pace of growth was the most pronounced in 2019 when exports increased by 65% against the previous year. The exports peaked at $X in 2020; however, from 2021 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

El Salvador (X tons) was the main destination for exports of soap and organic surface-active products in bars for toilet use from Panama, accounting for a 67% share of total exports. Moreover, exports of soap and organic surface-active products in bars for toilet use to El Salvador exceeded the volume sent to the second major destination, Free Zones (X tons), twofold.

From 2012 to 2022, the average annual rate of growth in terms of volume to El Salvador amounted to +20.2%.

In value terms, El Salvador ($X) emerged as the key foreign market for soap and organic surface-active products in bars for toilet use exports from Panama, comprising 72% of total exports. The second position in the ranking was held by Free Zones ($X), with a 28% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to El Salvador amounted to +13.4%.

Export Prices by Country

In 2022, the average export price for soap and organic surface-active products in bars for toilet use amounted to $X per ton, surging by 12% against the previous year. Overall, the export price, however, saw a deep setback. The growth pace was the most rapid in 2014 when the average export price increased by 24%. 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 stood at a somewhat lower figure.

Average prices varied noticeably for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was El Salvador ($X per ton), while the average price for exports to Free Zones amounted to $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Costa Rica (+5.1%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Soap And Organic Surface-Active Products In Bars For Toilet Use

Imports into Panama

In 2022, purchases abroad of soap and organic surface-active products in bars for toilet use decreased by -10.2% to X tons, falling for the second year in a row after two years of growth. Over the period under review, imports, however, recorded a buoyant increase. The most prominent rate of growth was recorded in 2017 with an increase of 202%. Over the period under review, imports of hit record highs at X tons in 2020; however, from 2021 to 2022, imports failed to regain momentum.

In value terms, imports of soap and organic surface-active products in bars for toilet use reduced to $X in 2022. In general, imports, however, enjoyed a resilient expansion. The most prominent rate of growth was recorded in 2017 when imports increased by 220%. Imports peaked at $X in 2020; however, from 2021 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Guatemala (X tons), Colombia (X tons) and Mexico (X tons) were the main suppliers of imports of soap and organic surface-active products in bars for toilet use to Panama, together comprising 68% of total imports.

From 2012 to 2022, the biggest increases were recorded for Guatemala (with a CAGR of +112.9%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Guatemala ($X) constituted the largest supplier of soap and organic surface-active products in bars for toilet use to Panama, comprising 40% of total imports. The second position in the ranking was taken by Mexico ($X), with a 16% share of total imports. It was followed by Colombia, with a 13% share.

From 2012 to 2022, the average annual growth rate of value from Guatemala amounted to +148.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Mexico (+8.5% per year) and Colombia (+45.9% per year).

Import Prices by Country

In 2022, the average import price for soap and organic surface-active products in bars for toilet use amounted to $X per ton, rising by 8.4% against the previous year. Overall, import price indicated a modest increase from 2012 to 2022: its price increased at an average annual rate of +1.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, import price for soap and organic surface-active products in bars for toilet use increased by +59.5% against 2016 indices. The pace of growth appeared the most rapid in 2021 when the average import price increased by 31%. Over the period under review, average import prices hit record highs in 2022 and is likely to see gradual growth in the immediate term.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Brazil ($X per ton), while the price for Indonesia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Guatemala (+16.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform