Soap Market Report: Production, Industry Trends and Forecast to 2030 – IndexBox
Companies Mentioned in the Report: Church & Dwight, Colgate-Palmolive, Ecolab, Procter & Gamble, Edgewell Personal Care Co, Clorox, Unilever, Henkel, Cetaphil, Aveeno, Bradford Soap Works, Bulk Apothecary, Botanie Soap, Formula Corp., Tropical Products, Power Line Packaging, Doerfler Mfg, Vermont Soap, Natural Soap Wholesale, Ton Savon, The Soap Guy
NEW YORK, April 13, 2022 (GLOBE NEWSWIRE) — IndexBox has just published a new report: ‘U.S. – Soap – Market Analysis, Forecast, Size, Trends and Insights’. Here is a summary of the report’s key findings.
U.S. Soap Market Statistics
| Imports | $1,334.1 Million USD |
| Exports | $1,019.6 Million USD |
| Top Foreign Suppliers | Canada, China, Mexico |
| Top Export Destinations | Canada, Mexico, China |
In 2021, the U.S. soap market decreased by -11.1% to $2.6B for the first time since 2017, thus ending a three-year rising trend. The most prominent rate of growth was recorded in 2010 with an increase of 24% y-o-y. Soap consumption peaked at $3.6B in 2007; however, from 2008 to 2021, consumption stood at a somewhat lower figure. REQUEST FREE DATA
Soap Production in the U.S.
In 2021, production of soap in the U.S. rose slightly to 816K tonnes, surging by 1.9% on 2020 figures. Overall, production, however, showed a pronounced setback. The most prominent rate of growth was recorded in 2010 with an increase of 21% y-o-y. Soap production peaked at 1.5M tonnes in 2007; however, from 2008 to 2021, production remained at a lower figure. REQUEST FREE DATA
In value terms, soap production reached $2.7B in 2021. Over the period under review, production, however, showed a noticeable downturn. The most prominent rate of growth was recorded in 2010 when the production volume increased by 13% year-to-year. Soap production peaked at $4.3B in 2007; however, from 2008 to 2021, production stood at a somewhat lower figure. REQUEST FREE DATA
Soap Exports from the U.S.
In 2021, overseas shipments of soap decreased by -4.2% to 301K tonnes for the first time since 2017, thus ending a three-year rising trend. The total export volume increased at an average annual rate of +3.8% over the period from 2007 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2009 with an increase of 23% year-to-year. Exports peaked at 314K tonnes in 2020, and then declined in the following year.
In value terms, soap exports expanded to $1B in 2021. Overall, total exports indicated a prominent expansion from 2007 to 2021: its value increased at an average annual rate of +3.8% over the last fourteen years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +13.7% against 2017 indices. The most prominent rate of growth was recorded in 2008 with an increase of 25% y-o-y. Exports peaked in 2021 and are likely to see gradual growth in years to come.
Exports by Country
Canada (195K tonnes) was the main destination for soap exports from the U.S., with a 65% share of total volume. Moreover, soap supplies to Canada exceeded the volume sent to the second major destination, Mexico (20K tonnes), tenfold.
In value terms, Canada ($518M) remains the key foreign market for soap exports from the U.S., comprising 51% of total supplies. The second position in the ranking was occupied by Mexico ($74M), with a 7.3% share of total exports. It was followed by China, with a 4.6% share.
From 2007 to 2021, the average annual rate of growth in terms of value to Canada amounted to +4.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Mexico (+8.1% per year) and China (+12.6% per year).
Export Prices by Country
In 2021, the average soap export price amounted to $3,387 per tonne, increasing by 7.3% against the previous year. There were significant differences in the average prices for the major foreign markets. In 2021, the country with the highest price was China, while the average price for exports to Costa Rica was amongst the lowest. From 2007 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to China, while the prices for the other major destinations experienced more modest paces of growth.
Soap Imports into the U.S.
In 2021, after eleven years of growth, there was significant decline in overseas purchases of soap, when their volume decreased by -31.6% to 549K tonnes. Over the period under review, imports, however, showed buoyant growth.
In value terms, imports dropped rapidly to $1.3B in 2021. In general, imports, however, enjoyed a resilient increase.
Imports by Country
China (149K tonnes), Canada (121K tonnes) and Mexico (95K tonnes) were the main suppliers of soap imports to the U.S., together accounting for 66% of total volume. The UK, South Korea, Turkey, Germany, Italy, India and Indonesia lagged somewhat behind, together comprising a further 23%.
In value terms, the largest soap suppliers to the U.S. were Canada ($340M), China ($263M) and Mexico ($203M), together accounting for 60% of total imports. The UK, Germany, South Korea, Italy, India, Turkey and Indonesia lagged somewhat behind, together comprising a further 23%.
In 2021, soap supplies from China to the U.S. dropped by nearly 60% compared to a year earlier. By contrast, imports from the UK (+20.4%) and Mexico (+2.1%) increased.
Import Prices by Country
The average soap import price stood at $2,428 per tonne in 2021, increasing by 8.3% against the previous year. In general, the import price recorded a relatively flat trend pattern. Prices varied noticeably by the country of origin; the country with the highest price was Germany ($3,532 per tonne), while the price for Turkey ($1,155 per tonne) was amongst the lowest. From 2007 to 2021, the most notable rate of growth in terms of prices was attained by Indonesia, while the prices for the other major suppliers experienced more modest paces of growth.
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Product Coverage
Soap and organic surface-active products and preparations, in the form of in the form of liquid, cream, bars, cakes, moulded pieces or shapes, and paper, wadding, felt and nonwovens, impregnated, coated or covered with soap or detergent.
Related Links
Organic Surface-Active Products Market
Non-Soap Washing Preparations Market
CONTACT: Contact Information Mekhrona Dzhuraeva Editor [email protected]
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