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 Soap, The Soap Guy
NEW YORK, April 13, 2022 (GLOBE NEWSWIRE) — IndexBox has released a new report: ‘United States – Soap – Market analysis, forecast, size, trends and prospects’. Here is a summary of the main findings of the report.
American soap Market statistics
Main foreign suppliers
Canada, China, Mexico
Main export destinations
Canada, Mexico, China
In 2021, the U.S. soap market fell -11.1% to $2.6 billion for the first time since 2017, ending a three-year upward trend. The highest growth rate was recorded in 2010 with a year-on-year increase of 24%. Soap consumption peaked at $3.6 billion in 2007; however, from 2008 to 2021 consumption was at a slightly lower figure. REQUEST FREE DATA
Soap production in the United States
In 2021, soap production in the United States increased slightly to 816,000 tons, up 1.9% from 2020 figures. Overall, however, production was down sharply. The highest growth rate was recorded in 2010 with a year-on-year increase of 21%. Soap production peaked at 1.5 million tonnes in 2007; however, from 2008 to 2021 production remained at a lower figure. REQUEST FREE DATA
In value, soap production reached $2.7 billion in 2021. Over the period under review, however, production recorded a notable slowdown. The highest growth rate was recorded in 2010, when production volume increased by 13% year-on-year. Soap production peaked at $4.3 billion in 2007; however, from 2008 to 2021 production was at a slightly lower figure. REQUEST FREE DATA
United States Soap Exports
In 2021, overseas soap shipments fell -4.2% to 301,000 tonnes for the first time since 2017, ending a three-year upward trend. The total volume of exports increased at an average annual rate of +3.8% over the period 2007 to 2021; however, the trend indicated that some notable fluctuations were recorded in some years. The pace of growth appeared fastest in 2009 with a 23% year-on-year increase. Exports peaked at 314,000 tonnes in 2020, then declined the following year.
In value, soap exports reached $1 billion in 2021. Overall, total exports showed significant expansion from 2007 to 2021: their value grew at an average annual rate of +3.8% in over the past fourteen years. The trend model, however, indicated that some notable fluctuations were recorded throughout the analyzed period. Based on 2021 figures, exports increased by +13.7% compared to 2017 indices. The highest growth rate was recorded in 2008 with a 25% year-on-year increase. Exports peaked in 2021 and are expected to see gradual growth in the coming years.
Exports by country
Canada (195,000 tons) was the main destination for US soap exports, with a 65% share of the total volume. In addition, soap supplies in Canada exceeded the volume sent to the second largest destination, Mexico (20K tons), increased tenfold.
In terms of value, Canada ($518M) remains the top foreign market for US soap exports, accounting for 51% of total supply. The second position in the ranking was occupied by Mexico (74 million dollars), with a share of 7.3% of total exports. It was followed by China, with a share of 4.6%.
From 2007 to 2021, the average annual growth rate in value for Canada was +4.4%. Exports to other major destinations recorded the following average annual export growth rates: Mexico (+8.1% per year) and China (+12.6% per year).
Export prices by country
In 2021, the average export price of soap was $3,387 per ton, up 7.3% from the previous year. There were significant differences in average prices for major foreign markets. In 2021, the country with the highest price was China, while the average export price to Costa Rica was among the lowest. From 2007 to 2021, the most notable growth rate in terms of prices was recorded for deliveries to China, while prices for other major destinations experienced more modest growth rates.
U.S. Soap Imports
In 2021, after eleven years of growth, there was a significant drop in overseas soap purchases, when their volume decreased by -31.6% to 549,000 tons. During the period considered, however, imports showed a steady growth.
In value, imports fell rapidly to $1.3 billion in 2021. In general, however, imports saw a resilient increase.
Imports by country
China (149,000 tons), Canada (121,000 tons) and Mexico (95,000 tons) were the main suppliers of soap imports to the United States, together accounting for 66% of the total volume. Great Britain, South KoreaTurkey, Germany, Italy, India and Indonesia lag slightly behind, together accounting for an additional 23%.
In terms of value, the largest suppliers of soap to the United States were Canada ($340 million), China ($263 million) and Mexico ($203 million), together accounting for 60% of total imports . The UK, Germany, South Korea, Italy, India, Turkey and Indonesia trailed slightly, together accounting for an additional 23%.
In 2021, soap supplies from China to the United States fell nearly 60% from the previous year. On the other hand, imports from the United Kingdom (+20.4%) and Mexico (+2.1%) increased.
Import prices by country
The average import price of soap stood at $2,428 per ton in 2021, up 8.3% from the previous year. In general, the import price recorded a relatively stable trend. Prices varied significantly by country of origin; the country with the highest price was Germany ($3,532 per ton), while Turkey’s price ($1,155 per ton) was among the lowest. From 2007 to 2021, the most notable price growth rate was achieved by Indonesia, while prices from other major suppliers experienced more modest growth rates.
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Soaps and surface-active organic products and preparations, in the form of liquids, creams, bars, bars, moldings or forms, and papers, waddings, felts and nonwovens, impregnated, coated or covered with soap or detergent .
CONTACT: Contact Information Mekhrona Dzhuraeva Editor [email protected]