The soap market size value per capita in Guatemala increased steadily from $17.48 in 2013 to $26.94 in 2023. The market showed a gradual growth trend between 2013 and 2019, with noticeable value increases from 2015 onwards. Despite a slight dip in 2020, likely attributable to the COVID-19 pandemic, the market rebounded in 2021, reaching a peak in 2023.
- The year-on-year variation from 2022 to 2023 stood at 2.55%.
- A compound annual growth rate (CAGR) over the last five years was approximately 3.62%, indicating robust growth potential.
Future trends to watch include evolving consumer preferences towards eco-friendly products, which could drive innovation and premiumization in the market. Additionally, increased urbanization and disposable incomes may further propel market expansion.
