The Nicaraguan market for soap, excluding solid soap, displayed moderate growth, with a market size of 6.2242 million USD in 2023. Recent years have shown positive growth with year-on-year increases of 1.42% in 2022 and 1.38% in 2023. The five-year CAGR was calculated at 1.48%, reflecting a steady, albeit modest, upward trend. Over the decade, the market experienced fluctuations but maintained a growth trajectory, particularly following the dip in 2020 attributed to various market adversities.
Future trends to watch for include increased demand for liquid soap and specialty products focused on health benefits, particularly amid growing consumer interest in personal hygiene and skincare. Innovations in eco-friendly and sustainable products could also drive market expansion.
