Hong Kong SAR, China: Soap In Bars Market 2023

Soap In Bars Market Size in Hong Kong SAR, China

The Hong Kong soap in bars market declined to $X in 2021, with a decrease of -14.4% against 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). Overall, consumption continues to indicate a pronounced reduction. As a result, consumption reached the peak level of $X. From 2015 to 2021, the growth of the market failed to regain momentum.

Soap In Bars Exports

Exports from Hong Kong SAR, China

For the third consecutive year, Hong Kong SAR recorded decline in shipments abroad of soap and organic surface-active products in bars, which decreased by -19.7% to X tons in 2021. Overall, exports showed a abrupt curtailment. The most prominent rate of growth was recorded in 2013 with an increase of 92% against the previous year. As a result, the exports attained the peak of X tons. From 2014 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, soap in bars exports surged to $X in 2021. In general, exports recorded a mild setback. The exports peaked at $X in 2018; however, from 2019 to 2021, the exports remained at a lower figure.

Exports by Country

China (X tons), the United States (X tons) and Macao SAR (X tons) were the main destinations of soap in bars exports from Hong Kong SAR, together accounting for 87% of total exports. Japan, France, the UK, Australia and Singapore lagged somewhat behind, together accounting for a further 8.8%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by France (with a CAGR of +31.2%), while the other leaders experienced more modest paces of growth.

In value terms, China ($X) remains the key foreign market for soap in bars exports from Hong Kong SAR, comprising 45% of total exports. The second position in the ranking was held by the United States ($X), with a 22% share of total exports. It was followed by Macao SAR, with a 17% share.

From 2012 to 2021, the average annual rate of growth in terms of value to China amounted to +7.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+10.7% per year) and Macao SAR (-2.1% per year).

Export Prices by Country

In 2021, the average soap in bars export price amounted to $X per ton, growing by 58% against the previous year. Overall, export price indicated a perceptible increase from 2012 to 2021: its price increased at an average annual rate of +3.8% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, soap in bars export price increased by +70.4% against 2018 indices. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices for the major overseas markets. In 2021, the country with the highest price was Macao SAR ($X per ton), while the average price for exports to France ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to the UK (+12.9%), while the prices for the other major destinations experienced more modest paces of growth.

Soap In Bars Imports

Imports into Hong Kong SAR, China

Soap in bars imports into Hong Kong SAR reduced remarkably to X tons in 2021, dropping by -25.4% compared with 2020. Overall, imports recorded a abrupt slump. The most prominent rate of growth was recorded in 2013 with an increase of 14%. Imports peaked at X tons in 2014; however, from 2015 to 2021, imports remained at a lower figure.

In value terms, soap in bars imports declined to $X in 2021. Over the period under review, imports showed a pronounced reduction. The most prominent rate of growth was recorded in 2016 with an increase of 16% against the previous year. As a result, imports reached the peak of $X. From 2017 to 2021, the growth of imports remained at a lower figure.

Imports by Country

In 2021, China (X tons) constituted the largest supplier of soap in bars to Hong Kong SAR, accounting for a 48% share of total imports. Moreover, soap in bars imports from China exceeded the figures recorded by the second-largest supplier, Indonesia (X tons), fivefold. The third position in this ranking was held by Singapore (X tons), with an 8.7% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China amounted to -5.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Indonesia (-10.6% per year) and Singapore (-0.5% per year).

In value terms, China ($X) constituted the largest supplier of soap in bars to Hong Kong SAR, comprising 37% of total imports. The second position in the ranking was held by Japan ($X), with an 11% share of total imports. It was followed by France, with a 7% share.

From 2012 to 2021, the average annual growth rate of value from China amounted to -6.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (-7.5% per year) and France (+12.5% per year).

Import Prices by Country

The average soap in bars import price stood at $X per ton in 2021, increasing by 23% against the previous year. In general, the import price recorded a relatively flat trend pattern. The import price peaked at $X per ton in 2016; however, from 2017 to 2021, import prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by South Korea (+5.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform

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