Bangladesh: Soap Market 2024

Soap Market Size in Bangladesh

The Bangladeshi soap market expanded slightly to $X in 2022, surging by X% against the previous year. The market value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Soap consumption peaked at $X in 2020; however, from 2021 to 2022, consumption remained at a lower figure.

Soap Production in Bangladesh

In value terms, soap production totaled $X in 2022 estimated in export price. The total output value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2019 with an increase of X% against the previous year. Over the period under review, production reached the peak level at $X in 2016; however, from 2017 to 2022, production stood at a somewhat lower figure.

Soap Exports

Exports from Bangladesh

In 2022, after three years of decline, there was significant growth in shipments abroad of soap, when their volume increased by X% to X tons. In general, exports, however, continue to indicate a deep setback. The most prominent rate of growth was recorded in 2017 with an increase of X% against the previous year. Over the period under review, the exports reached the peak figure at X tons in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, soap exports rose notably to $X in 2022. Overall, exports, however, showed a drastic downturn. Over the period under review, the exports reached the maximum at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

India (X tons) was the main destination for soap exports from Bangladesh, accounting for a X% share of total exports. Moreover, soap exports to India exceeded the volume sent to the second major destination, the United States (X tons), more than tenfold. The third position in this ranking was held by Singapore (X tons), with a X% share.

From 2012 to 2022, the average annual growth rate of volume to India amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (X% per year) and Singapore (X% per year).

In value terms, India ($X) remains the key foreign market for soap exports from Bangladesh, comprising X% of total exports. The second position in the ranking was held by the United States ($X), with a X% share of total exports. It was followed by the UK, with a X% share.

From 2012 to 2022, the average annual growth rate of value to India stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (X% per year) and the UK (X% per year).

Export Prices by Country

The average soap export price stood at $X per ton in 2022, picking up by X% against the previous year. Over the last decade, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2019 when the average export price increased by X% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2020 to 2022, the average export prices remained at a somewhat lower figure.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was the UK ($X per ton), while the average price for exports to Singapore ($X 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 Singapore (X%), while the prices for the other major destinations experienced more modest paces of growth.

Soap Imports

Imports into Bangladesh

In 2022, the amount of soap imported into Bangladesh rose modestly to X tons, growing by X% compared with the previous year's figure. Overall, imports posted a buoyant increase. The pace of growth was the most pronounced in 2013 with an increase of X% against the previous year. Over the period under review, imports attained the peak figure at X tons in 2020; however, from 2021 to 2022, imports stood at a somewhat lower figure.

In value terms, soap imports reduced to $X in 2022. Over the period under review, imports continue to indicate resilient growth. The most prominent rate of growth was recorded in 2014 when imports increased by X%. Over the period under review, imports reached the peak figure at $X in 2021, and then shrank in the following year.

Imports by Country

Malaysia (X tons), Indonesia (X tons) and the United Arab Emirates (X tons) were the main suppliers of soap imports to Bangladesh, with a combined X% share of total imports. India, Thailand and the UK lagged somewhat behind, together accounting for a further X%.

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

In value terms, the largest soap suppliers to Bangladesh were Malaysia ($X), India ($X) and the United Arab Emirates ($X), together accounting for X% of total imports. Indonesia, Thailand and the UK lagged somewhat behind, together comprising a further X%.

Indonesia, with a CAGR of X%, recorded the highest rates of growth with regard to the value of imports, in terms of 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 soap import price stood at $X per ton in 2022, dropping by X% against the previous year. Over the period under review, the import price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 an increase of X%. As a result, import price attained the peak level of $X per ton, and then reduced in the following year.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by India (X%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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