Dominican Republic: Market for Beauty, Make-Up And Skin Care Preparations 2024

Market Size for Beauty, Make-Up And Skin Care Preparations in the Dominican Republic

The Dominican market for beauty, make-up and skin care preparations rose sharply to $X in 2022, increasing by 5% against the previous year. Over the period under review, consumption, however, continues to indicate a noticeable reduction. Consumption of peaked at $X in 2017; however, from 2018 to 2022, consumption remained at a lower figure.

Production of Beauty, Make-Up And Skin Care Preparations in the Dominican Republic

In value terms, production of beauty, make-up and skin care preparations shrank to $X in 2022 estimated in export price. Overall, production recorded a abrupt slump. The most prominent rate of growth was recorded in 2021 when the production volume increased by 29%. Over the period under review, production of attained the maximum level at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

Exports of Beauty, Make-Up And Skin Care Preparations

Exports from the Dominican Republic

In 2022, after two years of growth, there was decline in overseas shipments of beauty, make-up and skin care preparations, when their volume decreased by -0.1% to X tons. Over the period under review, exports saw a pronounced contraction. The pace of growth appeared the most rapid in 2014 when exports increased by 87% against the previous year. The exports peaked at X tons in 2015; however, from 2016 to 2022, the exports failed to regain momentum.

In value terms, exports of beauty, make-up and skin care preparations expanded notably to $X in 2022. In general, exports showed a deep setback. The most prominent rate of growth was recorded in 2014 when exports increased by 73% against the previous year. As a result, the exports attained the peak of $X. From 2015 to 2022, the growth of the exports of failed to regain momentum.

Exports by Country

The United States (X tons) was the main destination for exports of beauty, make-up and skin care preparations from the Dominican Republic, accounting for a 39% share of total exports. Moreover, exports of beauty, make-up and skin care preparations to the United States exceeded the volume sent to the second major destination, Cuba (X tons), twofold. The third position in this ranking was held by Haiti (X tons), with a 15% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to the United States amounted to -7.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Cuba (+31.5% per year) and Haiti (-4.1% per year).

In value terms, the United States ($X), Cuba ($X) and Haiti ($X) constituted the largest markets for beauty, make-up and skin care preparations exported from the Dominican Republic worldwide, together accounting for 67% of total exports.

Among the main countries of destination, Cuba, with a CAGR of +33.4%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

The average export price for beauty, make-up and skin care preparations stood at $X per ton in 2022, rising by 7.8% against the previous year. In general, the export price, however, saw a pronounced reduction. The pace of growth appeared the most rapid in 2017 an increase of 69% against the previous year. The export price peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Cuba ($X per ton), while the average price for exports to Aruba ($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 Cuba (+1.4%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Beauty, Make-Up And Skin Care Preparations

Imports into the Dominican Republic

In 2022, imports of beauty, make-up and skin care preparations into the Dominican Republic soared to X tons, growing by 45% against the previous year. In general, imports enjoyed a buoyant expansion. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, imports of beauty, make-up and skin care preparations surged to $X in 2022. Overall, total imports indicated prominent growth from 2012 to 2022: its value increased at an average annual rate of +9.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +79.7% against 2020 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

Mexico (X tons), China (X tons) and the United States (X tons) were the main suppliers of imports of beauty, make-up and skin care preparations to the Dominican Republic, with a combined 67% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by China (with a CAGR of +43.5%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest beauty, make-up and skin care preparations suppliers to the Dominican Republic were the United States ($X), Colombia ($X) and Spain ($X), with a combined 67% share of total imports.

Spain, with a CAGR of +21.9%, recorded the highest rates of growth with regard to the value of imports, among 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 import price for beauty, make-up and skin care preparations stood at $X per ton in 2022, growing by 8.2% against the previous year. In general, the import price, however, saw a pronounced setback. The pace of growth was the most pronounced in 2015 an increase of 12%. As a result, import price attained the peak level of $X per ton. From 2016 to 2022, the average import prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was France ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by France (+4.8%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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