The soap market size value in the Philippines has exhibited varied trends over the years 2012 to 2022. Starting at $218.51 million in 2012, the market grew steadily until 2015, followed by a significant spike in 2016 to $344.67 million. However, the subsequent years saw fluctuations with a decline from 2017 to 2020, before rebounding to $355.49 million in 2022. The market experienced substantial year-on-year growth of 37.17% in 2016, but faced declines in several following years. The compound annual growth rate (CAGR) from 2017 to 2022 was relatively modest at 1.23%. As of 2023, the market stands with notable performance.
Future trends to watch for:
- Potential influences of sustainable and eco-friendly soap products gaining popularity among consumers.
- Innovations in soap formulations emphasizing health benefits and skin care.
- Economic factors, including consumer spending power and inflation rates, impacting market growth.
| # | 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 |
| 11 | 11 Spain | 369,140,000 | 2023 | -0.18% | +0.59% | View data |
| 12 | 12 Netherlands | 364,750,000 | 2023 | +1.78% | +3.36% | View data |
| 13 | 13 Philippines | 363,270,000 | 2023 | +2.19% | +2.32% | |
| 14 | 14 South Africa | 345,240,000 | 2023 | +1.32% | +0.98% | View data |
| 15 | 15 Peru | 322,510,000 | 2023 | +1.61% | +1.93% | View data |
