Dominican Republic: Market for Hair Lotion and Preparation 2024

Market Size for Hair Lotion and Preparation in the Dominican Republic

In 2021, the Dominican hair lotion and preparation market increased by 3.1% to $X, rising for the second consecutive year after two years of decline. Overall, the total consumption indicated prominent growth from 2012 to 2021: its value increased at an average annual rate of +7.6% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +16.5% against 2019 indices. Hair lotion and preparation consumption peaked in 2021 and is likely to see steady growth in the immediate term.

Production of Hair Lotion and Preparation in the Dominican Republic

In value terms, hair lotion and preparation production reduced to $X in 2021 estimated in export price. In general, production, however, enjoyed prominent growth. The pace of growth appeared the most rapid in 2015 when the production volume increased by 74% against the previous year. Over the period under review, production attained the maximum level at $X in 2020, and then reduced in the following year.

Exports of Hair Lotion and Preparation

Exports from the Dominican Republic

In 2021, approx. X tons of hair lotion and preparation were exported from the Dominican Republic; growing by 20% compared with 2020. Over the period under review, exports saw buoyant growth. The pace of growth appeared the most rapid in 2014 when exports increased by 54%. The exports peaked in 2021 and are likely to see steady growth in years to come.

In value terms, hair lotion and preparation exports surged to $X in 2021. In general, exports recorded a buoyant increase. The growth pace was the most rapid in 2014 with an increase of 44% against the previous year. Over the period under review, the exports reached the peak figure in 2021 and are likely to see gradual growth in the immediate term.

Exports by Country

The United States (X tons) was the main destination for hair lotion and preparation exports from the Dominican Republic, accounting for a 88% share of total exports. It was followed by the Netherlands (X tons), with a 2.5% share of total exports. Paraguay (X tons) ranked third in terms of total exports with a 2.2% share.

From 2012 to 2021, the average annual growth rate of volume to the United States amounted to +9.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Netherlands (+57.0% per year) and Paraguay (+22.6% per year).

In value terms, the United States ($X) remains the key foreign market for hair lotion and preparation exports from the Dominican Republic, comprising 86% of total exports. The second position in the ranking was taken by the Netherlands ($X), with a 3.1% share of total exports. It was followed by Costa Rica, with a 2.5% share.

From 2012 to 2021, the average annual growth rate of value to the United States totaled +8.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Netherlands (+55.7% per year) and Costa Rica (+18.4% per year).

Export Prices by Country

The average hair lotion and preparation export price stood at $X per ton in 2021, reducing by -2.4% against the previous year. Over the period under review, the export price continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2020 when the average export price increased by 6.6%. The export price peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major foreign markets. In 2021, amid the top suppliers, the country with the highest price was Costa Rica ($X per ton), while the average price for exports to Paraguay ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Paraguay (+5.8%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Hair Lotion and Preparation

Imports into the Dominican Republic

After two years of decline, overseas purchases of hair lotion and preparation increased by 94% to X tons in 2021. Over the period under review, total imports indicated a prominent increase from 2012 to 2021: its volume increased at an average annual rate of +5.3% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, hair lotion and preparation imports soared to $X in 2021. Overall, total imports indicated a strong increase from 2012 to 2021: its value increased at an average annual rate of +7.3% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

The United States (X tons), Italy (X tons) and Mexico (X tons) were the main suppliers of hair lotion and preparation imports to the Dominican Republic, with a combined 57% share of total imports. These countries were followed by Colombia, Spain, Brazil and China, which together accounted for a further 17%.

From 2012 to 2021, the biggest increases were recorded for Brazil (with a CAGR of +22.3%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X), Italy ($X) and Mexico ($X) appeared to be the largest hair lotion and preparation suppliers to the Dominican Republic, with a combined 57% share of total imports. These countries were followed by Spain, Colombia, China and Brazil, which together accounted for a further 12%.

Brazil, with a CAGR of +20.2%, recorded the highest rates of growth with regard to 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

In 2021, the average hair lotion and preparation import price amounted to $X per ton, growing by 8.8% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +1.9%. The most prominent rate of growth was recorded in 2018 an increase of 20%. As a result, import price reached the peak level of $X per ton. From 2019 to 2021, the average import prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United States (+6.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform