Portugal: Soap Market 2024

Soap Market Size in Portugal

The Portuguese soap market soared to $X in 2021, increasing by 28% against the previous year. Over the period under review, consumption recorded a prominent increase. Over the period under review, the market hit record highs in 2021 and is expected to retain growth in the near future.

Soap Production in Portugal

In value terms, soap production soared to $X in 2021 estimated in export price. Over the period under review, production posted a buoyant expansion. The most prominent rate of growth was recorded in 2017 with an increase of 100%. Over the period under review, production reached the peak level in 2021 and is expected to retain growth in the near future.

Soap Exports

Exports from Portugal

In 2021, shipments abroad of soap decreased by -9.7% to X tons, falling for the fourth consecutive year after three years of growth. Over the period under review, exports recorded a abrupt slump. The most prominent rate of growth was recorded in 2017 when exports increased by 48%. The exports peaked at X tons in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

In value terms, soap exports stood at $X in 2021. In general, exports recorded a pronounced contraction. The pace of growth appeared the most rapid in 2017 when exports increased by 29%. Over the period under review, the exports reached the maximum at $X in 2018; however, from 2019 to 2021, the exports remained at a lower figure.

Exports by Country

Spain (X tons) was the main destination for soap exports from Portugal, with a 37% share of total exports. Moreover, soap exports to Spain exceeded the volume sent to the second major destination, the United States (X tons), threefold. The third position in this ranking was held by Italy (X tons), with an 11% share.

From 2012 to 2021, the average annual growth rate of volume to Spain totaled -10.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+11.4% per year) and Italy (+32.6% per year).

In value terms, the largest markets for soap exported from Portugal were Spain ($X), the United States ($X) and Italy ($X), together comprising 56% of total exports.

Italy, with a CAGR of +29.1%, recorded the highest rates of growth with regard to the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the average soap export price amounted to $X per ton, picking up by 16% against the previous year. In general, export price indicated a prominent expansion from 2012 to 2021: its price increased at an average annual rate of +9.1% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, soap export price increased by +89.1% against 2017 indices. The most prominent rate of growth was recorded in 2018 when the average export price increased by 51% against the previous year. Over the period under review, the average export prices reached the peak figure in 2021 and is likely to continue growth in the near future.

Prices varied noticeably country of destination: the country with the highest price was the United States ($X per ton), while the average price for exports to Sao Tome and Principe ($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 Angola (+12.7%), while the prices for the other major destinations experienced more modest paces of growth.

Soap Imports

Imports into Portugal

Soap imports into Portugal fell to X tons in 2021, with a decrease of -10.9% compared with 2020 figures. Over the period under review, total imports indicated a noticeable increase from 2012 to 2021: its volume increased at an average annual rate of +2.6% 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 +55.4% against 2015 indices. The most prominent rate of growth was recorded in 2018 with an increase of 32%. Over the period under review, imports hit record highs at X tons in 2020, and then shrank in the following year.

In value terms, soap imports totaled $X in 2021. The total import value increased at an average annual rate of +2.0% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2018 with an increase of 33%. As a result, imports attained the peak of $X. From 2019 to 2021, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2021, Spain (X tons) constituted the largest supplier of soap to Portugal, with a 59% share of total imports. Moreover, soap imports from Spain exceeded the figures recorded by the second-largest supplier, Germany (X tons), fourfold. France (X tons) ranked third in terms of total imports with a 7.9% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Spain was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+5.5% per year) and France (+6.9% per year).

In value terms, Spain ($X) constituted the largest supplier of soap to Portugal, comprising 52% of total imports. The second position in the ranking was held by Germany ($X), with a 16% share of total imports. It was followed by France, with a 14% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Spain was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+2.9% per year) and France (+7.5% per year).

Import Prices by Country

The average soap import price stood at $X per ton in 2021, rising by 13% against the previous year. Over the period under review, the import price, however, showed a relatively flat trend pattern. The import price peaked at $X per ton in 2016; however, from 2017 to 2021, import prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Indonesia (+3.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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