Singapore: Soap And Detergent Market 2024

Soap And Detergent Market Size in Singapore

The Singaporean soap and detergent market soared to $X in 2022, surging by X% against the previous year. Overall, consumption, however, continues to indicate a perceptible reduction. Over the period under review, the market reached the maximum level at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Soap And Detergent Production in Singapore

In value terms, soap and detergent production amounted to $X in 2022 estimated in export price. Over the period under review, production, however, saw a deep downturn. The pace of growth appeared the most rapid in 2017 when the production volume increased by X% against the previous year. Soap and detergent production peaked at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

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Soap And Detergent Exports

Exports from Singapore

In 2022, after six years of growth, there was decline in overseas shipments of soap and detergents, when their volume decreased by X% to X tons. Over the period under review, total exports indicated a remarkable increase 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 increased by X% against 2015 indices. The most prominent rate of growth was recorded in 2017 when exports increased by X% against the previous year. Over the period under review, the exports attained the peak figure at X tons in 2021, and then contracted in the following year.

In value terms, soap and detergent exports expanded markedly to $X in 2022. In general, exports, however, continue to indicate resilient growth. The most prominent rate of growth was recorded in 2021 with an increase of X%. Over the period under review, the exports hit record highs in 2022 and are expected to retain growth in the immediate term.

Exports by Country

China (X tons), Vietnam (X tons) and Australia (X tons) were the main destinations of soap and detergent exports from Singapore, together comprising X% of total exports. Malaysia, Indonesia, Japan, Thailand, the United Arab Emirates, India, South Korea, the United States, Bangladesh and Hong Kong SAR lagged somewhat behind, together accounting for a further X%.

From 2012 to 2022, the biggest increases were recorded for the United Arab Emirates (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 and detergent exported from Singapore were China ($X), Vietnam ($X) and Malaysia ($X), together comprising X% of total exports. South Korea, Indonesia, Australia, Thailand, India, Japan, the United States, Hong Kong SAR, the United Arab Emirates and Bangladesh lagged somewhat behind, together comprising a further X%.

The United Arab Emirates, 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 and detergent export price stood at $X per ton in 2022, surging by X% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. The pace of growth was the most pronounced in 2021 when the average export price increased by X% against the previous year. The export price peaked in 2022 and is expected to retain growth in years to come.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was South Korea ($X per ton), while the average price for exports to the United Arab Emirates ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to South Korea (X%), while the prices for the other major destinations experienced more modest paces of growth.

Soap And Detergent Imports

Imports into Singapore

In 2022, the amount of soap and detergents imported into Singapore reached X tons, remaining constant against 2021. The total import volume increased at an average annual rate of X% from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations throughout the analyzed period. The most prominent rate of growth was recorded in 2013 with an increase of X%. Imports peaked at X tons in 2020; however, from 2021 to 2022, imports failed to regain momentum.

In value terms, soap and detergent imports shrank to $X in 2022. Over the period under review, total imports indicated resilient 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, imports increased by X% against 2015 indices. The pace of growth appeared the most rapid in 2020 when imports increased by X% against the previous year. Over the period under review, imports hit record highs at $X in 2021, and then reduced modestly in the following year.

Imports by Country

In 2022, Malaysia (X tons) constituted the largest soap and detergent supplier to Singapore, accounting for a X% share of total imports. Moreover, soap and detergent imports from Malaysia exceeded the figures recorded by the second-largest supplier, Indonesia (X tons), threefold. The third position in this ranking was taken by China (X tons), with a X% share.

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

In value terms, the largest soap and detergent suppliers to Singapore were the United States ($X), Malaysia ($X) and China ($X), with a combined X% share of total imports. Indonesia, Japan, Thailand, Germany, Vietnam, Norway and Taiwan (Chinese) lagged somewhat behind, together accounting for a further X%.

Among the main suppliers, Japan, with a CAGR of X%, saw 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

In 2022, the average soap and detergent import price amounted to $X per ton, which is down by X% against the previous year. Over the last decade, it increased at an average annual rate of X%. The pace of growth was the most pronounced in 2020 an increase of X% against the previous year. Over the period under review, average import prices reached the maximum at $X per ton in 2021, and then shrank in the following year.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Japan ($X per ton), while the price for Malaysia ($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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