The per capita value of the soap market (excluding solid soap) in Barbados has shown a steady increase from 2013 to 2023, rising from $1.63 to $2.86. In 2023, the market value per capita was $2.86 USD. The market experienced slight fluctuations but maintained a generally upward trend.
- Over the last two years (2022 to 2023), there was a year-on-year increase of 1.78% in value, indicating solid market growth.
- The compound annual growth rate (CAGR) over the last five years (2018 to 2023) was 1.78% per annum, highlighting consistent development in the market.
Future trends to watch for include shifts in consumer preferences towards environmentally friendly and natural products, which may influence market dynamics. An increased focus on hygiene and health awareness could further drive growth in the non-solid soap sector.
