ECOWAS: Market for Hair Lotion and Preparation 2024

Market Size for Hair Lotion and Preparation in ECOWAS

After two years of growth, the ECOWAS hair lotion and preparation market decreased by -6.4% to $X in 2021. The market value increased at an average annual rate of +1.0% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption attained the peak level of $X. From 2017 to 2021, the growth of the market remained at a somewhat lower figure.

Production of Hair Lotion and Preparation in ECOWAS

In value terms, hair lotion and preparation production shrank to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +1.0% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2016 with an increase of 28% against the previous year. As a result, production attained the peak level of $X. From 2017 to 2021, production growth remained at a somewhat lower figure.

Exports of Hair Lotion and Preparation

Exports in ECOWAS

After two years of decline, overseas shipments of hair lotion and preparation increased by 5.6% to X tons in 2021. In general, exports, however, showed a abrupt descent. The pace of growth was the most pronounced in 2018 when exports increased by 55% against the previous year. The volume of export peaked at X tons in 2014; however, from 2015 to 2021, the exports failed to regain momentum.

In value terms, hair lotion and preparation exports rose slightly to $X in 2021. Overall, exports, however, continue to indicate a abrupt curtailment. The pace of growth appeared the most rapid in 2013 when exports increased by 114%. As a result, the exports reached the peak of $X. From 2014 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

Cote d'Ivoire was the main exporting country with an export of about X tons, which recorded 60% of total exports. Nigeria (X tons) ranks second in terms of the total exports with a 26% share, followed by Ghana (11%). Senegal (X tons) held a little share of total exports.

From 2012 to 2021, average annual rates of growth with regard to hair lotion and preparation exports from Cote d'Ivoire stood at -10.4%. At the same time, Senegal (+10.8%) and Ghana (+1.9%) displayed positive paces of growth. Moreover, Senegal emerged as the fastest-growing exporter exported in ECOWAS, with a CAGR of +10.8% from 2012-2021. By contrast, Nigeria (-6.8%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Ghana, Nigeria and Senegal increased by +6.8, +4 and +1.7 percentage points, respectively.

In value terms, Cote d'Ivoire ($X) remains the largest hair lotion and preparation supplier in ECOWAS, comprising 67% of total exports. The second position in the ranking was taken by Nigeria ($X), with a 28% share of total exports. It was followed by Ghana, with a 3.2% share.

In Cote d'Ivoire, hair lotion and preparation exports declined by an average annual rate of -10.8% over the period from 2012-2021. The remaining exporting countries recorded the following average annual rates of exports growth: Nigeria (-8.2% per year) and Ghana (-13.9% per year).

Export Prices by Country

In 2021, the export price in ECOWAS amounted to $X per ton, leveling off at the previous year. In general, the export price saw a pronounced shrinkage. The most prominent rate of growth was recorded in 2013 when the export price increased by 79%. As a result, the export price reached the peak level of $X per ton. From 2014 to 2021, the export prices remained at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Cote d'Ivoire ($X per ton), while Ghana ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Cote d'Ivoire (-0.5%), while the other leaders experienced a decline in the export price figures.

Imports of Hair Lotion and Preparation

Imports in ECOWAS

In 2021, imports of hair lotion and preparation in ECOWAS expanded notably to X tons, growing by 11% against the previous year's figure. Over the period under review, imports, however, showed a noticeable setback. The growth pace was the most rapid in 2018 when imports increased by 19%. The volume of import peaked at X tons in 2013; however, from 2014 to 2021, imports failed to regain momentum.

In value terms, hair lotion and preparation imports amounted to $X in 2021. In general, imports, however, recorded a noticeable decline. The pace of growth was the most pronounced in 2020 when imports increased by 12% against the previous year. The level of import peaked at $X in 2013; however, from 2014 to 2021, imports remained at a lower figure.

Imports by Country

Ghana was the major importer of hair lotion and preparation in ECOWAS, with the volume of imports recording X tons, which was near 41% of total imports in 2021. It was distantly followed by Nigeria (X tons), Senegal (X tons) and Cabo Verde (X tons), together comprising a 36% share of total imports. Cote d'Ivoire (X tons), Togo (X tons), Burkina Faso (X tons), Mali (X tons), Benin (X tons) and Sierra Leone (X tons) followed a long way behind the leaders.

From 2012 to 2021, average annual rates of growth with regard to hair lotion and preparation imports into Ghana stood at -4.0%. At the same time, Sierra Leone (+21.6%), Cabo Verde (+11.8%), Cote d'Ivoire (+9.6%), Senegal (+4.1%) and Togo (+3.8%) displayed positive paces of growth. Moreover, Sierra Leone emerged as the fastest-growing importer imported in ECOWAS, with a CAGR of +21.6% from 2012-2021. By contrast, Benin (-3.1%), Mali (-6.1%), Burkina Faso (-7.2%) and Nigeria (-12.0%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Senegal, Cabo Verde, Cote d'Ivoire, Ghana and Togo increased by +5.9, +5.7, +3.2, +2.5 and +2.2 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Ghana ($X) constitutes the largest market for imported hair lotion and preparation in ECOWAS, comprising 43% of total imports. The second position in the ranking was taken by Senegal ($X), with an 18% share of total imports. It was followed by Nigeria, with an 8.8% share.

In Ghana, hair lotion and preparation imports declined by an average annual rate of -5.9% over the period from 2012-2021. The remaining importing countries recorded the following average annual rates of imports growth: Senegal (+10.8% per year) and Nigeria (-14.8% per year).

Import Prices by Country

In 2021, the import price in ECOWAS amounted to $X per ton, leveling off at the previous year. In general, the import price showed a relatively flat trend pattern. The growth pace was the most rapid in 2014 an increase of 19%. The level of import peaked at $X per ton in 2017; however, from 2018 to 2021, 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 ($X per ton), while Burkina Faso ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Senegal (+6.5%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform