Philippines: Market for Soap In Different Forms 2024

Market Size for Soap In Different Forms in the Philippines

The Philippine soap in different forms market skyrocketed to $X in 2022, jumping by X% 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 resilient increase. Over the period under review, the market reached the peak level in 2022 and is likely to see steady growth in the near future.

Exports of Soap In Different Forms

Exports from the Philippines

After three years of decline, overseas shipments of soap in different forms increased by X% to X tons in 2022. Overall, exports, however, recorded a abrupt setback. The pace of growth was the most pronounced in 2017 with an increase of X% against the previous year. Over the period under review, the exports attained the maximum at X tons in 2018; however, from 2019 to 2022, the exports stood at a somewhat lower figure.

In value terms, soap in different forms exports shrank dramatically to $X in 2022. Over the period under review, exports, however, saw a abrupt slump. The most prominent rate of growth was recorded in 2013 with an increase of X% against the previous year. Over the period under review, the exports attained the maximum at $X in 2017; however, from 2018 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Malaysia (X tons) was the main destination for soap in different forms exports from the Philippines, with a X% share of total exports. Moreover, soap in different forms exports to Malaysia exceeded the volume sent to the second major destination, Singapore (X tons), more than tenfold. The third position in this ranking was held by Taiwan (Chinese) (X tons), with a X% share.

From 2012 to 2022, the average annual growth rate of volume to Malaysia totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Singapore (X% per year) and Taiwan (Chinese) (X% per year).

In value terms, Malaysia ($X) emerged as the key foreign market for soap in different forms exports from the Philippines, comprising X% of total exports. The second position in the ranking was held by Singapore ($X), with a X% share of total exports. It was followed by Taiwan (Chinese), with a X% share.

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

Export Prices by Country

In 2022, the average soap in different forms export price amounted to $X per ton, falling by X% against the previous year. Overall, the export price, however, enjoyed a mild increase. The pace of growth was the most pronounced in 2016 when the average export price increased by X%. As a result, the export price reached the peak level of $X per ton. From 2017 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 Singapore ($X per ton), while the average price for exports to Malaysia ($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 Singapore (X%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Soap In Different Forms

Imports into the Philippines

In 2022, the amount of soap in different forms imported into the Philippines skyrocketed to X tons, growing by X% against the previous year. In general, imports recorded a strong increase. The most prominent rate of growth was recorded in 2014 with an increase of X%. Over the period under review, imports attained the maximum at X tons in 2020; however, from 2021 to 2022, imports failed to regain momentum.

In value terms, soap in different forms imports soared to $X in 2022. Overall, imports enjoyed prominent growth. The pace of growth was the most pronounced in 2014 when imports increased by 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) and Malaysia (X tons) were the main suppliers of soap in different forms imports to the Philippines.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Indonesia (with a CAGR of X%).

In value terms, the largest soap in different forms suppliers to the Philippines were Indonesia ($X) and Malaysia ($X).

Indonesia, with a CAGR of X%, recorded the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review.

Import Prices by Country

In 2022, the average soap in different forms import price amounted to $X per ton, increasing by X% against the previous year. Over the period under review, import price indicated notable growth 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 different forms import price increased by X% against 2019 indices. The growth pace was the most rapid in 2021 an increase of X%. The import price peaked in 2022 and is likely to continue growth in the near future.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Indonesia ($X per ton), while the price for Malaysia totaled $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Indonesia (X%).

Source: IndexBox Platform

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