Costa Rica: Lip Make-Up Preparations Market 2024

Lip Make-Up Preparations Market Size in Costa Rica

In 2022, the Costa Rican lip make-up preparations market was finally on the rise to reach $X after two years of decline. Over the period under review, consumption, however, showed a pronounced contraction. As a result, consumption reached the peak level of $X. From 2020 to 2022, the growth of the market failed to regain momentum.

Lip Make-Up Preparations Exports

Exports from Costa Rica

In 2022, after four years of decline, there was significant growth in shipments abroad of lip make-up preparations, when their volume increased by 18% to X tons. In general, exports enjoyed a notable expansion. The growth pace was the most rapid in 2013 with an increase of 177%. Over the period under review, the exports reached the maximum at X tons in 2017; however, from 2018 to 2022, the exports failed to regain momentum.

In value terms, lip make-up preparations exports surged to $X in 2022. Overall, exports enjoyed a measured increase. The pace of growth appeared the most rapid in 2016 with an increase of 108% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2018; however, from 2019 to 2022, the exports remained at a lower figure.

Exports by Country

Nicaragua (X kg), Poland (X kg) and the Dominican Republic (X kg) were the main destinations of lip make-up preparations exports from Costa Rica, together comprising 62% of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Nicaragua (with a CAGR of +111.6%), while the other leaders experienced more modest paces of growth.

In value terms, Poland ($X) emerged as the key foreign market for lip make-up preparations exports from Costa Rica, comprising 33% of total exports. The second position in the ranking was held by Nicaragua ($X), with a 10% share of total exports. It was followed by Singapore, with an 8.9% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Poland was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Nicaragua (+166.2% per year) and Singapore (+94.7% per year).

Export Prices by Country

The average lip make-up preparations export price stood at $X per ton in 2022, with a decrease of -1.9% against the previous year. In general, the export price, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2016 an increase of 61% against the previous year. The export price peaked at $X per ton in 2018; however, from 2019 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Singapore ($X per ton), while the average price for exports to Nicaragua ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Nicaragua (+25.8%), while the prices for the other major destinations experienced more modest paces of growth.

Lip Make-Up Preparations Imports

Imports into Costa Rica

In 2022, supplies from abroad of lip make-up preparations was finally on the rise to reach X tons after two years of decline. In general, imports, however, showed a abrupt contraction. The pace of growth was the most pronounced in 2019 when imports increased by 34%. Imports peaked at X tons in 2012; however, from 2013 to 2022, imports remained at a lower figure.

In value terms, lip make-up preparations imports soared to $X in 2022. Overall, imports, however, continue to indicate a perceptible decrease. The most prominent rate of growth was recorded in 2019 when imports increased by 34%. As a result, imports attained the peak of $X. From 2020 to 2022, the growth of imports failed to regain momentum.

Imports by Country

In 2022, Mexico (X tons) constituted the largest lip make-up preparations supplier to Costa Rica, with a 48% share of total imports. Moreover, lip make-up preparations imports from Mexico exceeded the figures recorded by the second-largest supplier, the United States (X tons), threefold. The third position in this ranking was held by China (X tons), with a 9% share.

From 2012 to 2022, the average annual growth rate of volume from Mexico totaled -3.9%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+5.2% per year) and China (+17.2% per year).

In value terms, the United States ($X), Mexico ($X) and Poland ($X) constituted the largest lip make-up preparations suppliers to Costa Rica, with a combined 57% share of total imports. Germany, Turkey and China lagged somewhat behind, together comprising a further 14%.

Turkey, with a CAGR of +175.4%, recorded the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average lip make-up preparations import price stood at $X per ton in 2022, with an increase of 7.8% against the previous year. In general, import price indicated noticeable growth from 2012 to 2022: its price increased at an average annual rate of +2.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, lip make-up preparations import price decreased by -30.0% against 2019 indices. The most prominent rate of growth was recorded in 2017 an increase of 26% against the previous year. The import price peaked at $X per ton in 2019; however, from 2020 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Poland ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Panama (+4.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform