The soap market in Sri Lanka stood at 36.029 million USD in 2023. Over the past decade, the market showed fluctuations, with notable dips in 2015 and stability in the succeeding years. From 2021 to 2023, the market experienced modest year-on-year growth, maintaining a CAGR of 2.01% over the last five years. This indicates a steady, albeit slow, upward trend in market size. The year-on-year growth from 2022 to 2023 was 2.02%.
Future trends to watch for include:
- Potential increases in rural market penetration, driven by rising hygiene awareness.
- Expansion of organic and eco-friendly soap segments.
- Impact of economic recovery and inflation on consumer spending.
- Growth in online retail channels post-2023.
| # | 52 Countries | US Dollars | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 Indonesia | 1,657,200,000 | 2023 | +4.14% | +5.44% | View data |
| 2 | 2 United Kingdom | 1,148,200,000 | 2023 | -0.26% | +0.39% | View data |
| 3 | 3 Germany | 1,113,300,000 | 2023 | +0.59% | -0.38% | View data |
| 4 | 4 France | 1,070,200,000 | 2023 | -0.84% | -1.46% | View data |
| 5 | 5 Canada | 1,029,900,000 | 2023 | -1.1% | -1.46% | View data |
| 40 | 40 Paraguay | 47,576,000 | 2023 | +1.26% | +1.11% | View data |
| 41 | 41 Slovenia | 38,732,000 | 2023 | +1.54% | +2.14% | View data |
| 42 | 42 Sri Lanka | 36,029,000 | 2023 | +2.02% | +2.01% | |
| 43 | 43 Togo | 30,607,000 | 2023 | +2.61% | +2.99% | View data |
| 44 | 44 Lithuania | 29,353,000 | 2023 | +1.78% | +2.68% | View data |
