Philippines: Soap Market 2024

Soap Market Size in the Philippines

The Philippine soap market reached $X in 2022, with an increase of X% against the previous year. In general, consumption enjoyed a resilient expansion. Soap consumption peaked at $X in 2020; however, from 2021 to 2022, consumption remained at a lower figure.

Soap Production in the Philippines

In value terms, soap production expanded slightly to $X in 2022 estimated in export price. Overall, production enjoyed pronounced growth. The pace of growth was the most pronounced in 2015 when the production volume increased by X% against the previous year. Over the period under review, production reached the peak level at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

Soap Exports

Exports from the Philippines

In 2022, after three years of growth, there was significant decline in shipments abroad of soap, when their volume decreased by X% to X tons. Over the period under review, exports showed a abrupt descent. The most prominent rate of growth was recorded in 2021 with an increase of X%. 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 declined to $X in 2022. Overall, exports recorded a abrupt contraction. The most prominent rate of growth was recorded in 2019 when exports increased by X%. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

The United Arab Emirates (X tons), Indonesia (X tons) and Singapore (X tons) were the main destinations of soap exports from the Philippines, together accounting for 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 Indonesia (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, Indonesia ($X) remains the key foreign market for soap exports from the Philippines, comprising X% of total exports. The second position in the ranking was held by Singapore ($X), with a X% share of total exports. It was followed by the United Arab Emirates, with an X% share.

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

Export Prices by Country

The average soap export price stood at $X per ton in 2022, rising by X% against the previous year. In general, export price indicated a temperate expansion 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 increased by X% against 2016 indices. The pace of growth was the most pronounced in 2019 when the average export price increased by X% against the previous year. Over the period under review, the average export prices reached the maximum in 2022 and is expected to retain growth in years to come.

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

Soap Imports

Imports into the Philippines

In 2022, approx. X tons of soap were imported into the Philippines; rising by X% compared with the previous year's figure. Overall, imports enjoyed a resilient increase. The pace of growth appeared the most rapid in 2014 when imports increased by X% against the previous year. 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 imports surged to $X in 2022. In general, imports enjoyed resilient growth. The growth pace was the most rapid in 2014 with an increase of X%. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in the immediate term.

Imports by Country

Indonesia (X tons), Malaysia (X tons) and China (X tons) were the main suppliers of soap imports to the Philippines, with a combined X% share of total imports. Thailand, Vietnam, the United States and Germany lagged somewhat behind, together accounting for a further X%.

From 2012 to 2022, the biggest increases were recorded for Germany (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Indonesia ($X), Malaysia ($X) and Thailand ($X) were the largest soap suppliers to the Philippines, together accounting for X% of total imports. China, Vietnam, Germany and the United States lagged somewhat behind, together comprising a further X%.

In terms of the main suppliers, Germany, 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 import price amounted to $X per ton, growing by X% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. The growth pace was the most rapid in 2021 when the average import price increased by X% against the previous year. The import price peaked in 2022 and is expected to retain growth in years to come.

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 Thailand ($X per ton), while the price for Indonesia ($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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