Republic of Korea: Market for Soap In Different Forms 2025

Market Size for Soap In Different Forms in Republic of Korea

In 2021, after four years of decline, there was significant growth in the South Korean soap in different forms market, when its value increased by 16% to $X. Over the period under review, consumption continues to indicate a pronounced slump. Soap in different forms consumption peaked at $X in 2016; however, from 2017 to 2021, consumption stood at a somewhat lower figure.

Exports of Soap In Different Forms

Exports from Republic of Korea

In 2021, the amount of soap in different forms exported from South Korea surged to X tons, growing by 24% on the previous year's figure. In general, exports showed a notable increase. The pace of growth appeared the most rapid in 2014 with an increase of 158% against the previous year. As a result, the exports reached the peak of X tons. From 2015 to 2021, the growth of the exports failed to regain momentum.

In value terms, soap in different forms exports rose remarkably to $X in 2021. Over the period under review, exports posted temperate growth. The most prominent rate of growth was recorded in 2014 when exports increased by 149% against the previous year. As a result, the exports reached the peak of $X. From 2015 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

China (X tons) was the main destination for soap in different forms exports from South Korea, accounting for a 38% share of total exports. Moreover, soap in different forms exports to China exceeded the volume sent to the second major destination, the United States (X tons), fourfold. Turkey (X tons) ranked third in terms of total exports with a 9.1% share.

From 2012 to 2021, the average annual growth rate of volume to China amounted to -3.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+16.6% per year) and Turkey (+270.7% per year).

In value terms, China ($X), the United States ($X) and Turkey ($X) constituted the largest markets for soap in different forms exported from South Korea worldwide, together accounting for 54% of total exports.

Among the main countries of destination, Turkey, with a CAGR of +196.7%, recorded 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

In 2021, the average soap in different forms export price amounted to $X per ton, shrinking by -10.5% against the previous year. Over the period under review, the export price saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2013 when the average export price increased by 17%. Over the period under review, the average export prices attained the maximum at $X per ton in 2017; however, from 2018 to 2021, 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 Japan ($X per ton), while the average price for exports to Cuba ($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 Iran (+42.6%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Soap In Different Forms

Imports into Republic of Korea

In 2021, purchases abroad of soap in different forms decreased by -7.8% to X tons, falling for the fifth year in a row after five years of growth. Overall, imports showed a pronounced downturn. The growth pace was the most rapid in 2015 with an increase of 42% against the previous year. Imports peaked at X tons in 2016; however, from 2017 to 2021, imports remained at a lower figure.

In value terms, soap in different forms imports skyrocketed to $X in 2021. In general, imports showed a pronounced descent. The growth pace was the most rapid in 2015 when imports increased by 30% against the previous year. Imports peaked at $X in 2016; however, from 2017 to 2021, imports stood at a somewhat lower figure.

Imports by Country

Indonesia (X tons), Malaysia (X tons) and China (X tons) were the main suppliers of soap in different forms imports to South Korea, together comprising 98% of total imports.

From 2012 to 2021, the biggest increases were recorded for Indonesia (with a CAGR of +3.5%), while purchases for the other leaders experienced a decline.

In value terms, the largest soap in different forms suppliers to South Korea were Indonesia ($X), Malaysia ($X) and the United States ($X), together comprising 89% of total imports.

Among the main suppliers, Indonesia, with a CAGR of +3.3%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced a decline.

Import Prices by Country

The average soap in different forms import price stood at $X per ton in 2021, with an increase of 39% against the previous year. Overall, the import price, however, saw a relatively flat trend pattern. Over the period under review, average import prices hit record highs at $X per ton in 2014; however, from 2015 to 2021, import prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+7.3%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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