Dominican Republic: Cosmetics Market 2024

Cosmetics Market Size in the Dominican Republic

The Dominican cosmetics market fell slightly to $X in 2022, approximately mirroring the previous year. The market value increased at an average annual rate of X% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Cosmetics consumption peaked at $X in 2019; however, from 2020 to 2022, consumption stood at a somewhat lower figure.

Cosmetics Production in the Dominican Republic

In value terms, cosmetics production reduced to $X in 2022 estimated in export price. In general, production recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2016 with an increase of X% against the previous year. Over the period under review, production hit record highs at $X in 2017; however, from 2018 to 2022, production stood at a somewhat lower figure.

Cosmetics Exports

Exports from the Dominican Republic

In 2022, after three years of decline, there was significant growth in overseas shipments of cosmetics, when their volume increased by X% to X tons. In general, exports recorded noticeable growth. The most prominent rate of growth was recorded in 2014 when exports increased by X% against the previous year. Over the period under review, the exports reached the peak figure at X tons in 2018; however, from 2019 to 2022, the exports stood at a somewhat lower figure.

In value terms, cosmetics exports skyrocketed to $X in 2022. Over the period under review, exports posted a resilient increase. The pace of growth was the most pronounced in 2014 when exports increased by X%. The exports peaked in 2022 and are likely to see steady growth in years to come.

Exports by Country

The United States (X tons) was the main destination for cosmetics exports from the Dominican Republic, accounting for a X% share of total exports. Moreover, cosmetics exports to the United States exceeded the volume sent to the second major destination, Haiti (X tons), more than tenfold. The third position in this ranking was taken by Cuba (X tons), with a X% share.

From 2012 to 2022, the average annual growth rate of volume to the United States stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Haiti (X% per year) and Cuba (X% per year).

In value terms, the United States ($X) remains the key foreign market for cosmetics exports from the Dominican Republic, comprising X% of total exports. The second position in the ranking was taken by Cuba ($X), with a X% share of total exports. It was followed by Haiti, with a X% share.

From 2012 to 2022, the average annual growth rate of value to the United States amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Cuba (X% per year) and Haiti (X% per year).

Export Prices by Country

In 2022, the average cosmetics export price amounted to $X per ton, jumping by X% against the previous year. Overall, the export price continues to indicate a noticeable increase. The growth pace was the most rapid in 2016 an increase of X%. Over the period under review, the average export prices reached the maximum in 2022 and is likely to see steady growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to Aruba ($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 the United States (X%), while the prices for the other major destinations experienced more modest paces of growth.

Cosmetics Imports

Imports into the Dominican Republic

In 2022, imports of cosmetics into the Dominican Republic soared to X tons, increasing by X% against 2021. In general, imports posted a prominent increase. The pace of growth appeared the most rapid in 2017 with an increase of X%. Imports peaked in 2022 and are likely to see steady growth in the immediate term.

In value terms, cosmetics imports skyrocketed to $X in 2022. Overall, total imports indicated strong growth from 2012 to 2022: its value increased at an average annual rate of X% 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 X% 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 cosmetics imports to the Dominican Republic, together accounting for X% 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 X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest cosmetics suppliers to the Dominican Republic were the United States ($X), Colombia ($X) and Spain ($X), together comprising X% of total imports.

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

Import Prices by Country

The average cosmetics import price stood at $X per ton in 2022, surging by X% against the previous year. Over the period under review, the import price, however, showed a perceptible reduction. The growth pace was the most rapid in 2015 an increase of X% against the previous year. As a result, import price reached 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 (X%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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