Over the last decade, Mexico's market size value per capita for soap (excluding solid soap) exhibited a consistent decline. In 2013, it was $0.57 and decreased annually to $0.39 in 2023. Among recent year-on-year variations, 2022 to 2023 showed a decrease of 2.5%, while the decline from 2021 to 2022 was 2.44%. The compound annual growth rate (CAGR) over the past five years is approximately -0.5%.
Looking towards the future, factors such as increasing demand for hygiene products, burgeoning urban populations, and innovative product offerings like liquid hand soaps and body washes might influence market growth positively. However, sustainability and environmental concerns could potentially shift consumer preferences and impact the market dynamics.
