Sri Lanka: Soap Market 2024

Soap Market Size in Sri Lanka

The Sri Lankan soap market dropped to $X in 2022, waning by X% against the previous year. Over the period under review, the total consumption indicated strong 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. Soap consumption peaked at $X in 2021, and then fell in the following year.

Soap Production in Sri Lanka

In value terms, soap production dropped modestly to $X in 2022 estimated in export price. In general, the total production indicated a resilient expansion 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, production decreased by X% against 2019 indices. The most prominent rate of growth was recorded in 2019 with an increase of X%. As a result, production reached the peak level of $X. From 2020 to 2022, production growth remained at a lower figure.

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Soap Exports

Exports from Sri Lanka

In 2022, soap exports from Sri Lanka soared to X tons, picking up by X% on the year before. Overall, exports, however, showed a abrupt downturn. The growth pace was the most rapid in 2020 when exports increased by X% against the previous year. The exports peaked at X tons in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, soap exports soared to $X in 2022. Over the period under review, exports, however, showed a deep contraction. The pace of growth was the most pronounced in 2017 with an increase of X% against the previous year. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Maldives (X tons), Pakistan (X tons) and Canada (X tons) were the main destinations of soap exports from Sri Lanka, with a combined X% share of total exports. The United Arab Emirates, Australia, Kiribati, France, the UK, Malaysia, Switzerland, Singapore and India lagged somewhat behind, together accounting for a further X%.

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

In value terms, the largest markets for soap exported from Sri Lanka were Maldives ($X), Pakistan ($X) and Australia ($X), together comprising X% of total exports. The United Arab Emirates, Canada, France, the UK, Switzerland, Singapore, Malaysia, Kiribati and India lagged somewhat behind, together comprising a further X%.

Malaysia, with a CAGR of X%, recorded the highest growth rate of 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

The average soap export price stood at $X per ton in 2022, shrinking by X% against the previous year. Over the period under review, export 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 export price decreased by X% against 2019 indices. The pace of growth appeared the most rapid in 2019 an increase of X% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2020 to 2022, the average export prices failed to regain momentum.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Singapore ($X per ton), while the average price for exports to Kiribati ($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 United Arab Emirates (X%), while the prices for the other major destinations experienced more modest paces of growth.

Soap Imports

Imports into Sri Lanka

In 2022, supplies from abroad of soap decreased by X% to X tons for the first time since 2013, thus ending a eight-year rising trend. Overall, imports, however, showed strong growth. The most prominent rate of growth was recorded in 2014 with an increase of X%. Over the period under review, imports reached the peak figure at X tons in 2021, and then fell dramatically in the following year.

In value terms, soap imports shrank to $X in 2022. In general, imports, however, saw buoyant growth. The pace of growth was the most pronounced in 2014 with an increase of X% against the previous year. Over the period under review, imports reached the peak figure at $X in 2021, and then contracted in the following year.

Imports by Country

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

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 ($X) constituted the largest supplier of soap to Sri Lanka, comprising X% of total imports. The second position in the ranking was taken by Indonesia ($X), with a X% share of total imports. It was followed by India, with a X% share.

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 import price stood at $X per ton in 2022, increasing by X% against the previous year. Over the period under review, the import price, however, saw a noticeable downturn. The import price peaked 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 the United Arab Emirates ($X per ton), while the price for Malaysia ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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