Republic of Korea - Soap - Market Analysis, Forecast, Size, Trends And Insights
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View PricingSoap Price in South Korea - 2022
Contents:
- Soap Price in South Korea (FOB) - 2022
- Soap Price in South Korea (CIF) - 2022
- Soap Exports in South Korea
- Soap Imports in South Korea
Soap Price in South Korea (FOB) - 2022
In 2022, the average soap export price amounted to $7,720 per ton, falling by -4% against the previous year. Overall, the export price, however, showed a prominent expansion. The pace of growth was the most pronounced in 2019 an increase of 26%. Over the period under review, the average export prices attained the peak figure at $8,045 per ton in 2021, and then contracted in the following year.
There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Japan ($11,239 per ton), while the average price for exports to Taiwan (Chinese) ($3,970 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to China (+10.2%), while the prices for the other major destinations experienced more modest paces of growth.
Soap Price in South Korea (CIF) - 2022
In December 2022, the average soap import price amounted to $3,681 per ton, falling by -6.3% against the previous month. Overall, the import price showed a relatively flat trend pattern. The pace of growth appeared the most rapid in August 2022 when the average import price increased by 49% month-to-month. The import price peaked at $5,350 per ton in April 2022; however, from May 2022 to December 2022, import prices remained at a lower figure.
Prices varied noticeably by the country of origin: the country with the highest price was France ($18,690 per ton), while the price for Indonesia ($965 per ton) was amongst the lowest.
From December 2021 to December 2022, the most notable rate of growth in terms of prices was attained by the United States (+2.8%), while the prices for the other major suppliers experienced mixed trend patterns.
Soap Exports in South Korea
In 2022, after three years of growth, there was decline in shipments abroad of soap, when their volume decreased by -2.4% to 39K tons. In general, total exports indicated a buoyant increase from 2019 to 2022: its volume increased at an average annual rate of +14.1% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +48.5% against 2019 indices. The most prominent rate of growth was recorded in 2020 when exports increased by 48%.
In value terms, soap exports contracted to $304M in 2022. Over the period under review, total exports indicated a strong increase from 2019 to 2022: its value increased at an average annual rate of +16.3% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +57.1% against 2019 indices. The growth pace was the most rapid in 2020 when exports increased by 46% against the previous year.
| Export of Soap in South Korea (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 92.1 | 135 | 173 | 157 | 19.5% |
| United States | 17.9 | 35.1 | 24.3 | 19.3 | 2.5% |
| Taiwan (Chinese) | 11.6 | 14.9 | 18.6 | 16.2 | 11.8% |
| Vietnam | 7.5 | 12.6 | 16.1 | 15.0 | 26.0% |
| Japan | 8.7 | 18.4 | 16.3 | 13.9 | 16.9% |
| Myanmar | 0.7 | 1.6 | 1.4 | 13.1 | 165.5% |
| Hong Kong SAR | 14.1 | 15.5 | 14.5 | 12.5 | -3.9% |
| Russia | 4.2 | 6.3 | 8.9 | 7.7 | 22.4% |
| Thailand | 5.8 | 7.1 | 7.6 | 7.0 | 6.5% |
| Malaysia | 6.6 | 6.9 | 8.0 | 6.9 | 1.5% |
| Singapore | 4.9 | 6.2 | 6.5 | 4.1 | -5.8% |
| Others | 19.4 | 23.7 | 29.8 | 31.5 | 17.5% |
| Total | 194 | 284 | 325 | 304 | 16.2% |
Top Export Markets for Soap from South Korea in 2022:
- China (17.5K tons)
- Taiwan (Chinese) (4.1K tons)
- United States (2.8K tons)
- Myanmar (2.7K tons)
- Vietnam (1.9K tons)
- Hong Kong SAR (1.8K tons)
- Japan (1.2K tons)
- Russia (1.1K tons)
- Thailand (0.8K tons)
- Malaysia (0.7K tons)
- Singapore (0.4K tons)
Soap Imports in South Korea
In 2022, approx. 53K tons of soap were imported into South Korea; waning by -4.9% on 2021 figures. The total import volume increased at an average annual rate of +1.9% from 2019 to 2022; the trend pattern remained consistent, with only minor fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 with an increase of 12% against the previous year. As a result, imports attained the peak of 55K tons, and then declined slightly in the following year.
In value terms, soap imports declined to $141M in 2022. The total import value increased at an average annual rate of +6.1% from 2019 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2021 when imports increased by 28% against the previous year. As a result, imports attained the peak of $158M, and then declined in the following year.
| Import of Soap in South Korea (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Myanmar | N/A | N/A | N/A | 26.9 | 0% |
| United States | 35.5 | 34.6 | 36.3 | 15.0 | -25.0% |
| Indonesia | 6.2 | 10.6 | 16.1 | 11.8 | 23.9% |
| China | 8.7 | 11.5 | 10.7 | 11.1 | 8.5% |
| Malaysia | 15.8 | 10.6 | 11.5 | 10.0 | -14.1% |
| United Kingdom | 3.7 | 4.1 | 4.7 | 9.2 | 35.5% |
| France | 8.4 | 10.4 | 14.4 | 8.2 | -0.8% |
| Thailand | 2.3 | 2.7 | 7.4 | 7.5 | 48.3% |
| Germany | 2.4 | 5.5 | 5.9 | 3.2 | 10.1% |
| Others | 35.2 | 33.5 | 51.4 | 38.1 | 2.7% |
| Total | 118 | 124 | 158 | 141 | 6.1% |
Top Suppliers of Soap to South Korea in 2022:
- Malaysia (12.2K tons)
- Indonesia (11.9K tons)
- China (8.6K tons)
- Myanmar (5.6K tons)
- United States (2.2K tons)
- France (1.9K tons)
- United Kingdom (1.3K tons)
- Thailand (1.3K tons)
- Germany (0.7K tons)
This report provides an in-depth analysis of the soap market in Republic of Korea. 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:
- South Korea
Data coverage:
- Market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Trade (exports and imports) in Republic of Korea
- 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.
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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
-
2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
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3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- MARKET STRUCTURE
- TRADE BALANCE
- PER CAPITA CONSUMPTION
- MARKET FORECAST TO 2030
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4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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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- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
- EXPORTS FROM 2012–2023
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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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
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption In 2012-2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
- Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
- Trade Balance, In Physical Terms, 2012-2023
- Trade Balance, In Value Terms, 2012-2023
- Per Capita Consumption, 2012-2023
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2023
- Production, In Value Terms, 2012–2023
- Imports, In Physical Terms, 2012–2023
- Imports, In Value Terms, 2012–2023
- Imports, In Physical Terms, By Country, 2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, 2012–2023
- Exports, In Value Terms, 2012–2023
- Exports, In Physical Terms, By Country, 2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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