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

Market Size for Soap And Organic Surface-Active Products In Bars Other Than For Toilet Use in the Philippines

The Philippine market for soap and organic surface-active products in bars other than for toilet use totaled $X in 2022, increasing by 15% against the previous year. Overall, consumption enjoyed a buoyant increase. Consumption of peaked in 2022 and is likely to see gradual growth in the immediate term.

Production of Soap And Organic Surface-Active Products In Bars Other Than For Toilet Use in the Philippines

In value terms, production of soap and organic surface-active products in bars other than for toilet use reduced to $X in 2022 estimated in export price. Over the period under review, production, however, continues to indicate buoyant growth. The pace of growth was the most pronounced in 2018 when the production volume increased by 111% against the previous year. Over the period under review, production of hit record highs at $X in 2019; however, from 2020 to 2022, production failed to regain momentum.

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

Exports from the Philippines

In 2022, overseas shipments of soap and organic surface-active products in bars other than for toilet use increased by 4.3% to X tons, rising for the second consecutive year after five years of decline. In general, exports showed a significant increase. The pace of growth was the most pronounced in 2015 with an increase of 2,744%. The exports peaked in 2022 and are likely to see gradual growth in the immediate term.

In value terms, exports of soap and organic surface-active products in bars other than for toilet use shrank remarkably to $X in 2022. Over the period under review, exports continue to indicate a buoyant increase. The most prominent rate of growth was recorded in 2015 when exports increased by 1,723%. As a result, the exports reached the peak of $X. From 2016 to 2022, the growth of the exports of failed to regain momentum.

Exports by Country

Malaysia (X tons) was the main destination for exports of soap and organic surface-active products in bars other than for toilet use from the Philippines, with a 92% share of total exports. It was followed by Northern Mariana Islands (X tons), with a 2.7% share of total exports.

From 2012 to 2022, the average annual growth rate of volume to Malaysia totaled +27.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Northern Mariana Islands (+66.8% per year) and Taiwan (Chinese) (+2.2% per year).

In value terms, Malaysia ($X) emerged as the key foreign market for soap and organic surface-active products in bars other than for toilet use exports from the Philippines, comprising 74% of total exports. The second position in the ranking was taken by Northern Mariana Islands ($X), with a 12% share of total exports.

From 2012 to 2022, the average annual growth rate of value to Malaysia totaled +29.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Northern Mariana Islands (+94.5% per year) and Taiwan (Chinese) (+1.0% per year).

Export Prices by Country

In 2022, the average export price for soap and organic surface-active products in bars other than for toilet use amounted to $X per ton, declining by -33.1% against the previous year. In general, the export price showed a abrupt slump. The pace of growth was the most pronounced in 2018 an increase of 64% against the previous year. The export price peaked at $X per ton in 2019; however, from 2020 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Northern Mariana Islands ($X per ton), while the average price for exports to Malaysia ($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 Northern Mariana Islands (+16.6%), while the prices for the other major destinations experienced more modest paces of growth.

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

Imports into the Philippines

In 2022, approx. X tons of soap and organic surface-active products in bars other than for toilet use were imported into the Philippines; growing by 56% compared with 2021. Over the period under review, imports showed significant growth. The most prominent rate of growth was recorded in 2013 when imports increased by 123%. Imports peaked in 2022 and are expected to retain growth in the near future.

In value terms, imports of soap and organic surface-active products in bars other than for toilet use surged to $X in 2022. In general, imports recorded a significant expansion. The growth pace was the most rapid in 2013 with an increase of 146%. Over the period under review, imports of hit record highs in 2022 and are likely to see steady growth in the immediate term.

Imports by Country

Indonesia (X tons), China (X tons) and Vietnam (X tons) were the main suppliers of imports of soap and organic surface-active products in bars other than for toilet use to the Philippines, with a combined 91% share of total imports. The United States, Singapore and Taiwan (Chinese) lagged somewhat behind, together accounting for a further 7.9%.

From 2012 to 2022, the biggest increases were recorded for Singapore (with a CAGR of +119.7%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest soap in bars other than for toilet use suppliers to the Philippines were China ($X), Indonesia ($X) and Vietnam ($X), with a combined 88% share of total imports. Singapore, the United States and Taiwan (Chinese) lagged somewhat behind, together comprising a further 10%.

In terms of the main suppliers, Singapore, with a CAGR of +111.8%, 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 import price for soap and organic surface-active products in bars other than for toilet use stood at $X per ton in 2022, increasing by 8.3% against the previous year. Overall, the import price, however, showed a perceptible slump. The most prominent rate of growth was recorded in 2020 an increase of 29%. Over the period under review, average import prices reached the peak figure at $X per ton in 2013; however, from 2014 to 2022, import prices remained at a lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Vietnam (+6.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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