Soap In Different Forms Market

The global soap market is forecasted to see continued growth in consumption over the next eight years, with a projected CAGR of +3.2% from 2022 to 2030. This growth is expected to bring the market volume to 9.9M tons and the market value to $23.2B by the end of 2030. Despite a decrease in consumption in 2022, the market has shown an average annual growth rate of +2.7% from 2012 to 2022. China leads in consumption volume, while Japan, China, and Turkey are the largest markets in terms of value. Production and import/export trends also indicate fluctuations in the market. Overall, the global soap market is poised for steady growth in the coming years.

Market Forecast

Driven by increasing demand for soap in different forms worldwide, the market is expected to continue an upward consumption trend over the next eight years. Market performance is forecast to retain its current trend pattern, expanding with an anticipated CAGR of +3.2% for the period from 2022 to 2030, which is projected to bring the market volume to 9.9M tons by the end of 2030.

In value terms, the market is forecast to increase with an anticipated CAGR of +4.3% for the period from 2022 to 2030, which is projected to bring the market value to $23.2B (in nominal prices) by the end of 2030.

Consumption

World Consumption of Soap In Different Forms

In 2022, consumption of soap in different forms decreased by -0.5% to 7.7M tons, falling for the second consecutive year after six years of growth. The total consumption volume increased at an average annual rate of +2.7% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Global consumption peaked at 8.1M tons in 2020; however, from 2021 to 2022, consumption stood at a somewhat lower figure.

The global soap in different forms market size shrank slightly to $16.6B in 2022, flattening at the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). The market value increased at an average annual rate of +2.5% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, the global market attained the peak level at $16.9B in 2020; however, from 2021 to 2022, consumption failed to regain momentum.

Consumption By Country

China (1.7M tons) constituted the country with the largest volume of soap in different forms consumption, accounting for 22% of total volume. Moreover, soap in different forms consumption in China exceeded the figures recorded by the second-largest consumer, India (661K tons), threefold. The United States (537K tons) ranked third in terms of total consumption with a 6.9% share.

From 2012 to 2022, the average annual rate of growth in terms of volume in China stood at +5.2%. The remaining consuming countries recorded the following average annual rates of consumption growth: India (+5.3% per year) and the United States (-1.6% per year).

In value terms, the largest soap in different forms markets worldwide were Japan ($3.2B), China ($2.6B) and Turkey ($2B), with a combined 47% share of the global market.

Turkey, with a CAGR of +15.9%, saw the highest rates of growth with regard to market size in terms of the main consuming countries over the period under review, while market for the other global leaders experienced more modest paces of growth.

The countries with the highest levels of soap in different forms per capita consumption in 2022 were Malaysia (4.8 kg per person), Turkey (4.5 kg per person) and Italy (4.3 kg per person).

From 2012 to 2022, the most notable rate of growth in terms of consumption, amongst the key consuming countries, was attained by Turkey (with a CAGR of +13.8%), while consumption for the other global leaders experienced more modest paces of growth.

Production

World Production of Soap In Different Forms

In 2022, production of soap in different forms decreased by -0.8% to 7.8M tons, falling for the second year in a row after six years of growth. The total output volume increased at an average annual rate of +1.8% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2017 with an increase of 9.5%. Over the period under review, global production reached the peak volume at 8.2M tons in 2020; however, from 2021 to 2022, production failed to regain momentum.

In value terms, soap in different forms production contracted to $15.8B in 2022 estimated in export price. The total output value increased at an average annual rate of +1.8% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2016 with an increase of 21%. Global production peaked at $18.1B in 2019; however, from 2020 to 2022, production failed to regain momentum.

Production By Country

The countries with the highest volumes of production in 2022 were China (1.6M tons), Indonesia (828K tons) and India (586K tons), together accounting for 39% of global production. The United States, Malaysia, Turkey, Pakistan, Italy, Russia, Brazil, Japan, Mexico and Poland lagged somewhat behind, together accounting for a further 39%.

From 2012 to 2022, the most notable rate of growth in terms of production, amongst the key producing countries, was attained by Poland (with a CAGR of +15.7%), while production for the other global leaders experienced more modest paces of growth.

Imports

World Imports of Soap In Different Forms

In 2022, supplies from abroad of soap in different forms decreased by -8.9% to 1.4M tons, falling for the second year in a row after four years of growth. The total import volume increased at an average annual rate of +1.4% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2017 with an increase of 12%. Over the period under review, global imports hit record highs at 1.8M tons in 2020; however, from 2021 to 2022, imports stood at a somewhat lower figure.

In value terms, soap in different forms imports amounted to $2.1B in 2022. In general, imports, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 when imports increased by 18% against the previous year. Global imports peaked in 2022 and are likely to see steady growth in the immediate term.

Imports By Country

The purchases of the twelve major importers of soap in different forms, namely India, the Philippines, Angola, Germany, China, the United Arab Emirates, France, Ethiopia, the United States, Turkey, Djibouti and Belgium, represented more than third of total import. Thailand (24K tons) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for Angola (with a CAGR of +24.4%), while purchases for the other global leaders experienced more modest paces of growth.

In value terms, the largest soap in different forms importing markets worldwide were the United States ($116M), the Philippines ($110M) and India ($105M), with a combined 15% share of global imports. France, Germany, the United Arab Emirates, Ethiopia, China, Angola, Turkey, Djibouti, Thailand and Belgium lagged somewhat behind, together comprising a further 27%.

Angola, with a CAGR of +21.1%, saw the highest growth rate of the value of imports, among the main importing countries over the period under review, while purchases for the other global leaders experienced more modest paces of growth.

Import Prices By Country

In 2022, the average soap in different forms import price amounted to $1,492 per ton, surging by 12% against the previous year. Over the period under review, the import price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 when the average import price increased by 14% against the previous year. Over the period under review, average import prices hit record highs at $1,559 per ton in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was the United States ($2,587 per ton), while Angola ($798 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+3.3%), while the other global leaders experienced more modest paces of growth.

Exports

World Exports of Soap In Different Forms

In 2022, shipments abroad of soap in different forms decreased by -9.7% to 1.5M tons, falling for the second year in a row after four years of growth. In general, exports continue to indicate a perceptible reduction. The most prominent rate of growth was recorded in 2017 when exports increased by 8.6% against the previous year. Over the period under review, the global exports attained the peak figure at 1.9M tons in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, soap in different forms exports reached $2.1B in 2022. Overall, exports showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 when exports increased by 18%. The global exports peaked at $2.2B in 2013; however, from 2014 to 2022, the exports remained at a lower figure.

Exports By Country

In 2022, Indonesia (499K tons), distantly followed by Malaysia (288K tons) and Poland (97K tons) represented the key exporters of soap in different forms, together committing 60% of total exports. Turkey (46K tons), Thailand (44K tons), Italy (40K tons), Belgium (33K tons), Spain (29K tons), Germany (29K tons), the United States (29K tons), Cote d'Ivoire (26K tons), Mexico (26K tons) and South Africa (26K tons) took a minor share of total exports.

From 2012 to 2022, the biggest increases were recorded for Cote d'Ivoire (with a CAGR of +19.1%), while shipments for the other global leaders experienced more modest paces of growth.

In value terms, the largest soap in different forms supplying countries worldwide were Indonesia ($501M), Malaysia ($343M) and Poland ($112M), with a combined 46% share of global exports. The United States, Thailand, Germany, Italy, Turkey, South Africa, Belgium, Spain, Mexico and Cote d'Ivoire lagged somewhat behind, together comprising a further 27%.

Cote d'Ivoire, with a CAGR of +17.8%, saw the highest rates of growth with regard to the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other global leaders experienced more modest paces of growth.

Export Prices By Country

In 2022, the average soap in different forms export price amounted to $1,420 per ton, surging by 12% against the previous year. Over the last decade, it increased at an average annual rate of +2.1%. The pace of growth was the most pronounced in 2013 an increase of 24% against the previous year. As a result, the export price reached the peak level of $1,434 per ton; afterwards, it flattened through to 2022.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was the United States ($3,830 per ton), while Cote d'Ivoire ($467 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Africa (+33.9%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform