Philippines: Soap In Bars Market 2024

Soap In Bars Market Size in the Philippines

After three years of decline, the Philippine soap in bars market increased by X% to $X in 2022. The market 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. Soap in bars consumption peaked at $X in 2018; however, from 2019 to 2022, consumption stood at a somewhat lower figure.

Soap In Bars Production in the Philippines

In value terms, soap in bars production dropped to $X in 2022 estimated in export price. Overall, production, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2013 with an increase of X% against the previous year. Over the period under review, production attained the peak level at $X in 2015; however, from 2016 to 2022, production remained at a lower figure.

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Soap In Bars Exports

Exports from the Philippines

In 2022, after three years of growth, there was significant decline in shipments abroad of soap and organic surface-active products in bars, when their volume decreased by X% to X tons. Overall, exports saw a abrupt setback. The growth pace was the most rapid in 2021 with an increase of X% against the previous year. Over the period under review, the exports hit record highs at X tons in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, soap in bars exports totaled $X in 2022. In general, exports saw a deep slump. The pace of growth was the most pronounced in 2019 when exports increased by X%. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Indonesia (X tons), the United Arab Emirates (X tons) and Vietnam (X tons) were the main destinations of soap in bars exports from the Philippines, with a combined X% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Indonesia (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, Indonesia ($X) remains the key foreign market for soap and organic surface-active products in bars exports from the Philippines, comprising X% of total exports. The second position in the ranking was taken by Singapore ($X), with a X% share of total exports. It was followed by the United Arab Emirates, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Indonesia totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Singapore (X% per year) and the United Arab Emirates (X% per year).

Export Prices by Country

In 2022, the average soap in bars export price amounted to $X per ton, with an increase of X% against the previous year. Overall, export price indicated a notable expansion from 2012 to 2022: its price 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, soap in bars export price increased by X% against 2016 indices. The most prominent rate of growth was recorded in 2019 an increase of X% against the previous year. The export price peaked in 2022 and is expected to retain growth in the near future.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Indonesia ($X per ton), while the average price for exports to Malaysia ($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 India (X%), while the prices for the other major destinations experienced more modest paces of growth.

Soap In Bars Imports

Imports into the Philippines

In 2022, approx. X tons of soap and organic surface-active products in bars were imported into the Philippines; rising by X% on the previous year's figure. Overall, imports saw a buoyant expansion. The pace of growth appeared the most rapid in 2016 when imports increased by X%. Imports peaked at X tons in 2020; however, from 2021 to 2022, imports failed to regain momentum.

In value terms, soap in bars imports skyrocketed to $X in 2022. Over the period under review, imports saw strong growth. The growth pace was the most rapid in 2014 with an increase of X% against the previous year. Imports peaked in 2022 and are expected to retain growth in years to come.

Imports by Country

Indonesia (X tons), China (X tons) and Vietnam (X tons) were the main suppliers of soap in bars imports to the Philippines, together comprising X% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Vietnam (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, China ($X), Indonesia ($X) and Thailand ($X) appeared to be the largest soap in bars suppliers to the Philippines, with a combined X% share of total imports. The United States, Germany, Malaysia, Vietnam and Taiwan (Chinese) lagged somewhat behind, together comprising a further X%.

Among the main suppliers, Vietnam, with a CAGR of X%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average soap in bars import price stood at $X per ton in 2022, growing by X% against the previous year. Over the period under review, the import price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 an increase of X%. Over the period under review, average import prices hit record highs at $X per ton in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

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 Thailand ($X per ton), while the price for Taiwan (Chinese) ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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