Sri Lanka: Market for Soap In Different Forms 2024

Market Size for Soap In Different Forms in Sri Lanka

In 2022, the Sri Lankan soap in different forms market decreased by X% to $X, falling for the second consecutive year after two years of growth. In general, consumption, however, continues to indicate a prominent increase. Over the period under review, the market hit record highs at $X in 2020; however, from 2021 to 2022, consumption failed to regain momentum.

Exports of Soap In Different Forms

Exports from Sri Lanka

In 2022, the amount of soap in different forms exported from Sri Lanka surged to X tons, with an increase of X% compared with the previous year's figure. Over the period under review, exports, however, saw a mild slump. The most prominent rate of growth was recorded in 2021 when exports increased by X% against the previous year. Over the period under review, the exports reached the peak figure at X tons in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, soap in different forms exports stood at $X in 2022. In general, exports, however, continue to indicate a abrupt decline. The pace of growth was the most pronounced in 2021 when exports increased by X% against the previous year. Over the period under review, the exports attained the peak figure at $X in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

Exports by Country

Canada (X tons), Kiribati (X tons) and Maldives (X tons) were the main destinations of soap in different forms exports from Sri Lanka, together comprising X% 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 Canada (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, Canada ($X), Maldives ($X) and Kiribati ($X) constituted the largest markets for soap in different forms exported from Sri Lanka worldwide, with a combined X% share of total exports.

Canada, with a CAGR of X%, recorded the highest rates of growth with regard to the value of exports, among 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

In 2022, the average soap in different forms export price amounted to $X per ton, waning by X% against the previous year. Over the period under review, the export price recorded a perceptible shrinkage. The most prominent rate of growth was recorded in 2015 an increase of X% against the previous year. Over the period under review, the average export prices reached the peak figure at $X per ton in 2017; however, from 2018 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the UK ($X per ton), while the average price for exports to Kiribati ($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 the UK (X%), while the prices for the other major destinations experienced a decline.

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Imports of Soap In Different Forms

Imports into Sri Lanka

In 2022, supplies from abroad of soap in different forms decreased by X% to X tons, falling for the second year in a row after two years of growth. Overall, imports, however, saw a resilient increase. The growth pace was the most rapid in 2019 with an increase of X% against the previous year. Imports peaked at X tons in 2020; however, from 2021 to 2022, imports remained at a lower figure.

In value terms, soap in different forms imports rose sharply to $X in 2022. Over the period under review, imports, however, showed a prominent expansion. The most prominent rate of growth was recorded in 2014 when imports increased by X% against the previous year. Over the period under review, imports attained the maximum in 2022 and are likely to see gradual growth in the near future.

Imports by Country

In 2022, Malaysia (X tons) constituted the largest soap in different forms supplier to Sri Lanka, accounting for a X% share of total imports. Moreover, soap in different forms imports from Malaysia exceeded the figures recorded by the second-largest supplier, Indonesia (X tons), fourfold.

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

In value terms, Malaysia ($X) constituted the largest supplier of soap in different forms to Sri Lanka, comprising X% of total imports. The second position in the ranking was taken by Indonesia ($X), with a X% share of total imports.

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

Import Prices by Country

The average soap in different forms import price stood at $X per ton in 2022, with an increase of X% against the previous year. In general, the import price recorded mild growth. The pace of growth appeared the most rapid in 2018 an increase of X%. As a result, import price reached the peak level of $X per ton. From 2019 to 2022, the average import prices failed to regain momentum.

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

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

Source: IndexBox Platform

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