Vietnam: Bath Preparations Market 2024

Bath Preparations Market Size in Vietnam

The Vietnamese bath preparations market expanded rapidly to $X in 2021, growing by 8.6% against the previous year. Over the period under review, consumption, however, showed a relatively flat trend pattern. As a result, consumption attained the peak level of $X. From 2020 to 2021, the growth of the market remained at a somewhat lower figure.

Bath Preparations Production in Vietnam

In value terms, bath preparations production rose markedly to $X in 2021 estimated in export price. In general, production recorded a tangible expansion. The pace of growth appeared the most rapid in 2019 with an increase of 45%. As a result, production reached the peak level of $X. From 2020 to 2021, production growth remained at a lower figure.

Bath Preparations Exports

Exports from Vietnam

In 2021, approx. X tons of perfumed bath salts and other bath preparations were exported from Vietnam; shrinking by -15.8% on the previous year. In general, exports, however, saw a resilient expansion. The growth pace was the most rapid in 2013 with an increase of 70%. The exports peaked at X tons in 2019; however, from 2020 to 2021, the exports failed to regain momentum.

In value terms, bath preparations exports contracted sharply to $X in 2021. Over the period under review, exports, however, recorded a strong expansion. The most prominent rate of growth was recorded in 2013 with an increase of 104%. Over the period under review, the exports reached the maximum at $X in 2020, and then contracted sharply in the following year.

Exports by Country

Malaysia (X tons) was the main destination for bath preparations exports from Vietnam, accounting for a 84% share of total exports. Moreover, bath preparations exports to Malaysia exceeded the volume sent to the second major destination, the United Arab Emirates (X tons), more than tenfold. The third position in this ranking was held by Taiwan (Chinese) (X tons), with a 2.1% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Malaysia totaled +51.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United Arab Emirates (+27.3% per year) and Taiwan (Chinese) (+21.6% per year).

In value terms, Malaysia ($X) remains the key foreign market for perfumed bath salts and other bath preparations exports from Vietnam, comprising 83% of total exports. The second position in the ranking was held by the United Arab Emirates ($X), with a 2.5% share of total exports. It was followed by Taiwan (Chinese), with a 2.2% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Malaysia amounted to +55.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United Arab Emirates (+31.4% per year) and Taiwan (Chinese) (+22.6% per year).

Export Prices by Country

In 2021, the average bath preparations export price amounted to $X per ton, waning by -12% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +2.0%. The growth pace was the most rapid in 2013 when the average export price increased by 20% against the previous year. Over the period under review, the average export prices reached the maximum at $X per ton in 2020, and then contracted in the following year.

Average prices varied somewhat for the major overseas markets. In 2021, the highest price was recorded for prices to Taiwan (Chinese) ($X per ton) and Malaysia ($X per ton), while the average price for exports to the United Arab Emirates ($X per ton) and China ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to the United Arab Emirates (+3.2%), while the prices for the other major destinations experienced more modest paces of growth.

Bath Preparations Imports

Imports into Vietnam

In 2021, supplies from abroad of perfumed bath salts and other bath preparations decreased by -3.3% to X tons, falling for the fifth consecutive year after two years of growth. Overall, imports recorded a deep contraction. The pace of growth was the most pronounced in 2015 with an increase of 6.7% against the previous year. Over the period under review, imports reached the peak figure at X tons in 2012; however, from 2013 to 2021, imports failed to regain momentum.

In value terms, bath preparations imports soared to $X in 2021. Over the period under review, imports showed a drastic downturn. The growth pace was the most rapid in 2013 with an increase of 28% against the previous year. As a result, imports reached the peak of $X. From 2014 to 2021, the growth of imports failed to regain momentum.

Imports by Country

Malaysia (X tons), South Korea (X tons) and Thailand (X tons) were the main suppliers of bath preparations imports to Vietnam, together comprising 56% of total imports. The Philippines, France, Singapore, Sweden and the United States lagged somewhat behind, together comprising a further 30%.

From 2012 to 2021, the biggest increases were recorded for Singapore (with a CAGR of +23.1%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Malaysia ($X), Thailand ($X) and South Korea ($X) appeared to be the largest bath preparations suppliers to Vietnam, together comprising 55% of total imports. These countries were followed by the Philippines, Singapore, France, Sweden and the United States, which together accounted for a further 27%.

Singapore, with a CAGR of +23.8%, recorded the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average bath preparations import price stood at $X per ton in 2021, jumping by 30% against the previous year. Overall, import price indicated a buoyant increase from 2012 to 2021: its price increased at an average annual rate of +6.3% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, bath preparations import price increased by +45.7% against 2018 indices. The pace of growth was the most pronounced in 2013 an increase of 44%. Over the period under review, average import prices hit record highs at $X per ton in 2014; however, from 2015 to 2021, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was the United States ($X per ton), while the price for South Korea ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Malaysia (+6.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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