ECOWAS: Eye Make-Up Preparations Market 2024

Eye Make-Up Preparations Market Size in ECOWAS

The ECOWAS eye make-up preparations market totaled $X in 2022, with an increase of 3.8% against the previous year. In general, consumption showed a resilient expansion. Over the period under review, the market hit record highs in 2022 and is expected to retain growth in years to come.

Eye Make-Up Preparations Production in ECOWAS

In value terms, eye make-up preparations production totaled $X in 2022 estimated in export price. Overall, production, however, continues to indicate strong growth. The most prominent rate of growth was recorded in 2013 when the production volume increased by 38%. The level of production peaked at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

Eye Make-Up Preparations Exports

Exports in ECOWAS

Eye make-up preparations exports reduced to X kg in 2022, with a decrease of -6.1% against the previous year. In general, exports continue to indicate a abrupt decline. The growth pace was the most rapid in 2017 when exports increased by 87%. Over the period under review, the exports hit record highs at X kg in 2013; however, from 2014 to 2022, the exports stood at a somewhat lower figure.

In value terms, eye make-up preparations exports reduced to $X in 2022. Overall, exports saw a pronounced reduction. The pace of growth appeared the most rapid in 2017 with an increase of 127% against the previous year. Over the period under review, the exports hit record highs at $X in 2013; however, from 2014 to 2022, the exports remained at a lower figure.

Exports by Country

Burkina Faso (X kg), Nigeria (X kg), Senegal (X kg) and Ghana (X kg) represented roughly 75% of total exports in 2022. It was distantly followed by Togo (X kg) and Mali (X kg), together comprising a 15% share of total exports. Cote d'Ivoire (X kg) followed a long way behind the leaders.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main exporting countries, was attained by Burkina Faso (with a CAGR of +35.6%), while the other leaders experienced more modest paces of growth.

In value terms, Senegal ($X), Ghana ($X) and Nigeria ($X) were the countries with the highest levels of exports in 2022, with a combined 70% share of total exports. Burkina Faso, Togo, Cote d'Ivoire and Mali lagged somewhat behind, together comprising a further 26%.

In terms of the main exporting countries, Burkina Faso, with a CAGR of +30.7%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in ECOWAS stood at $X per ton in 2022, shrinking by -4.6% against the previous year. Export price indicated modest growth from 2012 to 2022: its price increased at an average annual rate of +1.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, eye make-up preparations export price decreased by -30.4% against 2019 indices. The most prominent rate of growth was recorded in 2015 when the export price increased by 37% against the previous year. The level of export peaked at $X per ton in 2019; however, from 2020 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Senegal ($X per ton), while Mali ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Senegal (+7.3%), while the other leaders experienced more modest paces of growth.

Eye Make-Up Preparations Imports

Imports in ECOWAS

In 2022, after two years of decline, there was significant growth in supplies from abroad of eye make-up preparations, when their volume increased by 79% to X tons. In general, imports posted a perceptible expansion. The most prominent rate of growth was recorded in 2018 with an increase of 194% against the previous year. Over the period under review, imports reached the peak figure in 2022 and are expected to retain growth in the immediate term.

In value terms, eye make-up preparations imports surged to $X in 2022. Total imports indicated a measured expansion from 2012 to 2022: its value increased at an average annual rate of +2.8% 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 +75.7% against 2020 indices. The growth pace was the most rapid in 2018 when imports increased by 42% against the previous year. The level of import peaked in 2022 and is likely to see gradual growth in years to come.

Imports by Country

Nigeria prevails in imports structure, reaching X tons, which was near 79% of total imports in 2022. Cote d'Ivoire (X tons) ranks second in terms of the total imports with a 9.2% share, followed by Ghana (7%). Senegal (X tons) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to eye make-up preparations imports into Nigeria stood at +1.7%. At the same time, Ghana (+25.6%), Senegal (+8.8%) and Cote d'Ivoire (+8.6%) displayed positive paces of growth. Moreover, Ghana emerged as the fastest-growing importer imported in ECOWAS, with a CAGR of +25.6% from 2012-2022. From 2012 to 2022, the share of Ghana and Cote d'Ivoire increased by +6 and +3.8 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Nigeria ($X) constitutes the largest market for imported eye make-up preparations in ECOWAS, comprising 56% of total imports. The second position in the ranking was held by Cote d'Ivoire ($X), with an 18% share of total imports. It was followed by Senegal, with an 11% share.

From 2012 to 2022, the average annual growth rate of value in Nigeria was relatively modest. In the other countries, the average annual rates were as follows: Cote d'Ivoire (+5.8% per year) and Senegal (+10.3% per year).

Import Prices by Country

In 2022, the import price in ECOWAS amounted to $X per ton, reducing by -23.7% against the previous year. Over the period under review, the import price recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2014 when the import price increased by 69%. Over the period under review, import prices attained the peak figure at $X per ton in 2016; however, from 2017 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Senegal ($X per ton), while Nigeria ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Senegal (+1.3%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform