Report Update: May 1, 2024

Hong Kong SAR, China - Soap - Market Analysis, Forecast, Size, Trends And Insights

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Soap Price in Hong Kong SAR - 2023

Soap Price in Hong Kong SAR (CIF) - 2023

In June 2023, the average soap import price amounted to $3,059 per ton, with an increase of 11% against the previous month. Over the period under review, import price indicated a modest increase from June 2022 to June 2023: its price increased at an average monthly rate of +1.9% over the last twelve months. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on June 2023 figures, soap import price decreased by -19.4% against April 2023 indices. The most prominent rate of growth was recorded in March 2023 when the average import price increased by 47% month-to-month. The import price peaked at $3,795 per ton in April 2023; however, from May 2023 to June 2023, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In June 2023, the country with the highest price was Japan ($6,806 per ton), while the price for Malaysia ($1,887 per ton) was amongst the lowest.

From June 2022 to June 2023, the most notable rate of growth in terms of prices was attained by South Korea (+8.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Soap Price in Hong Kong SAR (FOB) - 2023

The average soap export price stood at $4,688 per ton in June 2023, increasing by 31% against the previous month. Overall, the export price, however, continues to indicate a slight curtailment. The most prominent rate of growth was recorded in August 2022 an increase of 102% month-to-month. Over the period under review, the average export prices reached the maximum at $5,854 per ton in June 2022; however, from July 2022 to June 2023, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major export markets. In June 2023, the country with the highest price was Macao SAR ($8,747 per ton), while the average price for exports to Taiwan (Chinese) ($967 per ton) was amongst the lowest.

From June 2022 to June 2023, the most notable rate of growth in terms of prices was recorded for supplies to Taiwan (Chinese) (+1.6%), while the prices for the other major destinations experienced a decline.

Soap Imports in Hong Kong SAR

In 2022, soap imports into Hong Kong SAR stood at 17K tons, rising by 12% on 2021. Overall, total imports indicated a prominent expansion from 2019 to 2022: its volume increased at an average annual rate of +6.3% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by -31.7% against 2020 indices. The pace of growth was the most pronounced in 2020 with an increase of 76%. As a result, imports attained the peak of 25K tons. From 2021 to 2022, the growth of imports remained at a lower figure.

In value terms, soap imports reduced modestly to $41M in 2022. Over the period under review, imports saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2020 with an increase of 59% against the previous year. As a result, imports attained the peak of $64M. From 2021 to 2022, the growth of imports remained at a somewhat lower figure.

Import of Soap in Hong Kong SAR (Million USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
China	14.3	33.6	23.8	23.6	18.2%
Japan	3.7	3.1	3.2	3.0	-6.8%
France	3.0	1.7	2.1	2.9	-1.1%
Thailand	1.5	2.6	1.7	2.7	21.6%
Malaysia	1.9	2.1	1.8	1.5	-7.6%
Indonesia	1.0	1.1	1.0	1.0	0.0%
South Korea	1.9	2.7	0.9	0.8	-25.0%
Singapore	2.0	1.7	1.4	0.7	-29.5%
Netherlands	1.9	1.0	0.6	0.2	-52.8%
Others	8.9	14.3	5.7	4.3	-21.5%
Total	40.2	63.9	42.2	40.8	0.5%

Top Suppliers of Soap to Hong Kong SAR in 2022:

Netherlands (undefinedK tons)
China (11.7K tons)
Thailand (1.3K tons)
France (0.8K tons)
Malaysia (0.8K tons)
Indonesia (0.5K tons)
Japan (0.4K tons)
South Korea (0.4K tons)
Singapore (0.2K tons)

Soap Exports in Hong Kong SAR

In 2022, approx. 4.3K tons of soap were exported from Hong Kong SAR; dropping by -24.3% compared with 2021 figures. Overall, exports showed a abrupt setback. The pace of growth appeared the most rapid in 2021 with an increase of 24% against the previous year. As a result, the exports attained the peak of 5.6K tons, and then reduced rapidly in the following year.

In value terms, soap exports dropped notably to $16M in 2022. In general, exports continue to indicate a abrupt descent. The pace of growth appeared the most rapid in 2021 with an increase of 17%. As a result, the exports reached the peak of $22M, and then shrank rapidly in the following year.

Export of Soap in Hong Kong SAR (Million USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Macao SAR	5.7	8.5	12.7	10.6	23.0%
Taiwan (Chinese)	0.1	0.2	0.1	2.1	175.9%
China	8.7	4.8	5.1	2.1	-37.7%
United States	1.0	1.2	1.9	0.4	-26.3%
Philippines	0.5	0.2	0.1	0.1	-41.5%
Japan	0.7	0.8	0.6	0.1	-47.7%
Others	2.9	3.4	1.9	0.5	-44.3%
Total	19.7	18.9	22.3	16.0	-6.7%

Top Export Markets for Soap from Hong Kong SAR in 2022:

Macao SAR (2816.3 tons)
Taiwan (Chinese) (607.6 tons)
China (561.8 tons)
United States (88.0 tons)
Philippines (51.7 tons)
Japan (26.0 tons)

Source: IndexBox Market Intelligence Platform

This report provides an in-depth analysis of the soap market in Hong Kong SAR, China. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

Prodcom 20413120 - Soap and organic surface-active products in bars, etc., n.e.c.
Prodcom 20413150 - Soap in the form of flakes, wafers, granules or powders
Prodcom 20413180 - Soap in forms excluding bars, cakes or moulded shapes, p aper, wadding, felt and non-wovens impregnated or coated with soap/detergent, flakes, granules or powders
Prodcom 20421915 - Soap and organic surface-active products in bars, etc., for toilet use
Prodcom 20421930 - Organic surface-active products and preparations for washing the skin, whether or not containing soap, p.r.s.

Country coverage:

Hong Kong SAR

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Hong Kong SAR, China
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

Take advantage of the latest data
Find deeper insights into current market developments
Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023