India: Soap Market 2024

Soap Market Size in India

The Indian soap market reached $X in 2022, standing approx. at the previous year. Overall, the total consumption indicated noticeable growth from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by X% against 2020 indices. Soap consumption peaked at $X in 2020; however, from 2021 to 2022, consumption remained at a lower figure.

Soap Production in India

In value terms, soap production expanded slightly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2017 with an increase of X% against the previous year. Over the period under review, production attained the peak level at $X in 2020; afterwards, it flattened through to 2022.

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Soap Exports

Exports from India

In 2022, shipments abroad of soap decreased by X% to X tons, falling for the second year in a row after three years of growth. In general, total exports indicated perceptible growth from 2012 to 2022: its volume increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports decreased by X% against 2020 indices. The pace of growth appeared the most rapid in 2020 when exports increased by X% against the previous year. As a result, the exports reached the peak of X tons. From 2021 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, soap exports amounted to $X in 2022. Overall, total exports indicated buoyant growth from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports decreased by X% against 2020 indices. The pace of growth appeared the most rapid in 2020 when exports increased by X%. As a result, the exports reached the peak of $X. From 2021 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

The United Arab Emirates (X tons), Nepal (X tons) and the United States (X tons) were the main destinations of soap exports from India, together comprising X% of total exports. Bangladesh, Singapore, the UK, Somalia, Saudi Arabia, Qatar, Oman, Tanzania, Comoros and Bhutan lagged somewhat behind, together comprising a further X%.

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

In value terms, the largest markets for soap exported from India were the United Arab Emirates ($X), Nepal ($X) and the United States ($X), with a combined X% share of total exports. Bangladesh, Singapore, the UK, Qatar, Saudi Arabia, Tanzania, Bhutan, Oman, Somalia and Comoros lagged somewhat behind, together accounting for a further X%.

Somalia, with a CAGR of X%, recorded the highest growth rate of the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average soap export price stood at $X per ton in 2022, jumping by X% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. 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 foreign markets. In 2022, amid the top suppliers, the country with the highest price was Bangladesh ($X per ton), while the average price for exports to Somalia ($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 Bangladesh (X%), while the prices for the other major destinations experienced more modest paces of growth.

Soap Imports

Imports into India

In 2022, overseas purchases of soap decreased by X% to X tons for the first time since 2019, thus ending a two-year rising trend. Over the period under review, imports, however, recorded a buoyant expansion. The pace of growth was the most pronounced in 2017 when imports increased by X%. Imports peaked at X tons in 2021, and then shrank in the following year.

In value terms, soap imports reduced modestly to $X in 2022. In general, imports, however, recorded a remarkable increase. The most prominent rate of growth was recorded in 2017 with an increase of X% against the previous year. Over the period under review, imports reached the peak figure at $X in 2021, and then shrank modestly in the following year.

Imports by Country

In 2022, Indonesia (X tons) constituted the largest supplier of soap to India, accounting for a X% share of total imports. Moreover, soap imports from Indonesia exceeded the figures recorded by the second-largest supplier, Malaysia (X tons), fourfold. The United Arab Emirates (X tons) ranked third in terms of total imports with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Indonesia stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: Malaysia (X% per year) and the United Arab Emirates (X% per year).

In value terms, Indonesia ($X) constituted the largest supplier of soap to India, comprising X% of total imports. The second position in the ranking was held by Malaysia ($X), with an X% share of total imports. It was followed by Germany, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Indonesia stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: Malaysia (X% per year) and Germany (X% per year).

Import Prices by Country

The average soap import price stood at $X per ton in 2022, surging by X% against the previous year. Overall, the import price continues to indicate moderate growth. The pace of growth was the most pronounced in 2021 when the average import price increased by X% against the previous year. Over the period under review, average import prices reached the maximum in 2022 and is likely to see gradual growth in the near future.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Germany ($X per ton), while the price for the United Arab Emirates ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Indonesia (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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