Sri Lanka: Soap In Bars Market 2023

Soap In Bars Market Size in Sri Lanka

The Sri Lankan soap in bars market expanded notably to $X in 2021, growing by 9.9% against the previous year. Overall, consumption, however, saw a buoyant expansion. Over the period under review, the market hit record highs at $X in 2019; however, from 2020 to 2021, consumption stood at a somewhat lower figure.

Soap In Bars Production in Sri Lanka

In value terms, soap in bars production surged to $X in 2021 estimated in export price. Over the period under review, production, however, showed a strong increase. The pace of growth was the most pronounced in 2018 when the production volume increased by 61%. Over the period under review, production reached the peak level at $X in 2019; however, from 2020 to 2021, production failed to regain momentum.

Soap In Bars Exports

Exports from Sri Lanka

In 2021, approx. X tons of soap and organic surface-active products in bars were exported from Sri Lanka; dropping by -43.6% compared with the previous year. Over the period under review, exports faced a abrupt setback. The growth pace was the most rapid in 2018 when exports increased by 115%. Over the period under review, the exports reached the maximum at X tons in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

In value terms, soap in bars exports declined rapidly to $X in 2021. Overall, exports saw a abrupt descent. The most prominent rate of growth was recorded in 2020 with an increase of 50%. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

Exports by Country

Singapore (X tons), Canada (X tons) and Oman (X tons) were the main destinations of soap in bars exports from Sri Lanka, with a combined 57% share of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Oman (with a CAGR of +172.5%), while the other leaders experienced a decline.

In value terms, Oman ($X), Singapore ($X) and the United States ($X) were the largest markets for soap in bars exported from Sri Lanka worldwide, together comprising 47% of total exports.

Among the main countries of destination, Oman, with a CAGR of +122.5%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

In 2021, the average soap in bars export price amounted to $X per ton, rising by 29% against the previous year. Over the period under review, export price indicated a notable expansion from 2012 to 2021: its price increased at an average annual rate of +4.7% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, soap in bars export price decreased by -9.0% against 2019 indices. The growth pace was the most rapid in 2019 an increase of 91%. As a result, the export price attained the peak level of $X per ton. From 2020 to 2021, the average export prices remained at a lower figure.

Prices varied noticeably country of destination: the country with the highest price was Seychelles ($X per ton), while the average price for exports to Canada ($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 Seychelles (+28.5%), while the prices for the other major destinations experienced more modest paces of growth.

Soap In Bars Imports

Imports into Sri Lanka

In 2021, overseas purchases of soap and organic surface-active products in bars decreased by -15.2% to X tons, falling for the fourth consecutive year after two years of growth. Overall, imports saw a abrupt contraction. The pace of growth appeared the most rapid in 2017 with an increase of 100% against the previous year. As a result, imports reached the peak of X tons. From 2018 to 2021, the growth of imports remained at a lower figure.

In value terms, soap in bars imports fell remarkably to $X in 2021. Over the period under review, imports saw a abrupt setback. The growth pace was the most rapid in 2017 when imports increased by 67%. As a result, imports attained the peak of $X. From 2018 to 2021, the growth of imports failed to regain momentum.

Imports by Country

In 2021, India (X tons) constituted the largest soap in bars supplier to Sri Lanka, accounting for a 59% share of total imports. Moreover, soap in bars imports from India exceeded the figures recorded by the second-largest supplier, China (X tons), fivefold. The third position in this ranking was taken by Indonesia (X tons), with an 11% share.

From 2012 to 2021, the average annual growth rate of volume from India amounted to -5.3%. The remaining supplying countries recorded the following average annual rates of imports growth: China (-13.0% per year) and Indonesia (+0.8% per year).

In value terms, India ($X) constituted the largest supplier of soap in bars to Sri Lanka, comprising 63% of total imports. The second position in the ranking was held by China ($X), with a 10% share of total imports. It was followed by Singapore, with an 8.4% share.

From 2012 to 2021, the average annual rate of growth in terms of value from India amounted to -3.2%. The remaining supplying countries recorded the following average annual rates of imports growth: China (-13.5% per year) and Singapore (-11.4% per year).

Import Prices by Country

The average soap in bars import price stood at $X per ton in 2021, waning by -4.5% against the previous year. In general, the import price, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2015 an increase of 31%. The import price peaked at $X per ton in 2019; however, from 2020 to 2021, import prices stood at a somewhat lower figure.

Prices varied noticeably country of origin: the country with the highest price was Pakistan ($X per ton), while the price for Indonesia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+11.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform

Frequently Asked Questions (FAQ) :