In 2023, the import of soap in the form of flakes, wafers, granules, or powders to the UK stood higher than the forecasted values for subsequent years. From 2024 to 2028, a downward trend is observed, with a clear year-on-year decrease in import volume. Specifically, the data projects a steady decline in the million kilograms supplied to the UK market. The Compound Annual Growth Rate (CAGR) for these five years indicates a negative trend, reflecting a consistent reduction in import levels.
Future trends to watch:
- Potential changes in domestic soap production capabilities that may affect import needs.
- Fluctuations in global soap prices influencing import volumes.
- Innovations in soap products that may alter demand for specific forms.
- Impact of environmental policies aiming to reduce packaging and promote sustainable products.