The soap market size value per capita in Nicaragua has shown gradual growth from $0.77 in 2013 to $0.95 in 2023. Specifically, from 2021 to 2023, the market grew by 1.08% and 1.07% year-on-year, suggesting stability in consumer spending on soap products. Over the longer term, the compound annual growth rate (CAGR) from 2019 to 2023 stands at approximately 1.37% per year, indicating a modest but consistent increase in market value.
Future trends to watch for:
- Increased consumer awareness of hygiene could drive further market growth.
- Potential shifts towards eco-friendly or natural soap formulations.
- Evolving consumer preferences influenced by global trends in personal care.
