ECOWAS: Market for Manicure Or Pedicure Preparations 2024

Market Size for Manicure Or Pedicure Preparations in ECOWAS

The ECOWAS manicure or pedicure preparations market declined to $X in 2021, dropping by -11.3% against the previous year. In general, consumption saw a slight shrinkage. Over the period under review, the market reached the peak level at $X in 2016; however, from 2017 to 2021, consumption remained at a lower figure.

Production of Manicure Or Pedicure Preparations in ECOWAS

In value terms, manicure or pedicure preparations production declined to $X in 2021 estimated in export price. Overall, production saw a noticeable descent. The pace of growth appeared the most rapid in 2015 with an increase of 41%. Over the period under review, production hit record highs at $X in 2016; however, from 2017 to 2021, production failed to regain momentum.

Exports of Manicure Or Pedicure Preparations

Exports in ECOWAS

After two years of growth, shipments abroad of manicure or pedicure preparations decreased by -87.9% to X tons in 2021. Overall, exports showed a precipitous shrinkage. The most prominent rate of growth was recorded in 2014 with an increase of 46% against the previous year. As a result, the exports reached the peak of X tons. From 2015 to 2021, the growth of the exports failed to regain momentum.

In value terms, manicure or pedicure preparations exports shrank significantly to $X in 2021. In general, exports showed a sharp descent. The most prominent rate of growth was recorded in 2014 when exports increased by 55%. As a result, the exports reached the peak of $X. From 2015 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

Cote d'Ivoire was the largest exporting country with an export of about X tons, which reached 72% of total exports. It was distantly followed by Nigeria (X tons) and Togo (X tons), together creating a 22% share of total exports. Ghana (X kg) held a little share of total exports.

Exports from Cote d'Ivoire decreased at an average annual rate of -28.9% from 2012 to 2021. At the same time, Nigeria (+8.3%) displayed positive paces of growth. Moreover, Nigeria emerged as the fastest-growing exporter exported in ECOWAS, with a CAGR of +8.3% from 2012-2021. By contrast, Ghana (-2.7%) and Togo (-23.5%) illustrated a downward trend over the same period. Nigeria (+15 p.p.), Ghana (+2.7 p.p.) and Togo (+1.8 p.p.) significantly strengthened its position in terms of the total exports, while Cote d'Ivoire saw its share reduced by -23% from 2012 to 2021, respectively.

In value terms, the largest manicure or pedicure preparations supplying countries in ECOWAS were Cote d'Ivoire ($X), Nigeria ($X) and Togo ($X), together accounting for 89% of total exports.

Among the main exporting countries, Nigeria, with a CAGR of +7.6%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced a decline in the exports figures.

Export Prices by Country

In 2021, the export price in ECOWAS amounted to $X per ton, rising by 83% against the previous year. Export price indicated a pronounced expansion from 2012 to 2021: its price increased at an average annual rate of +3.7% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major exporting countries. In 2021, the country with the highest price was Togo ($X per ton), while Cote d'Ivoire ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Togo (+8.4%), while the other leaders experienced a decline in the export price figures.

Imports of Manicure Or Pedicure Preparations

Imports in ECOWAS

Manicure or pedicure preparations imports shrank rapidly to X tons in 2021, which is down by -50.6% on 2020 figures. Over the period under review, imports showed a abrupt descent. The pace of growth appeared the most rapid in 2019 with an increase of 63%. The volume of import peaked at X tons in 2013; however, from 2014 to 2021, imports failed to regain momentum.

In value terms, manicure or pedicure preparations imports dropped to $X in 2021. In general, imports saw a abrupt decrease. The most prominent rate of growth was recorded in 2013 when imports increased by 9.2%. As a result, imports reached the peak of $X. From 2014 to 2021, the growth of imports failed to regain momentum.

Imports by Country

In 2021, Cote d'Ivoire (X tons) and Nigeria (X tons) were the major importers of manicure or pedicure preparations in ECOWAS, together achieving 52% of total imports. Ghana (X tons) held a 9% share (based on physical terms) of total imports, which put it in second place, followed by Cabo Verde (7.6%), Senegal (6.2%), Guinea (6.1%), Togo (5.2%) and Benin (5%).

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Guinea (with a CAGR of +11.0%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Cote d'Ivoire ($X) constitutes the largest market for imported manicure or pedicure preparations in ECOWAS, comprising 39% of total imports. The second position in the ranking was taken by Cabo Verde ($X), with a 12% share of total imports. It was followed by Guinea, with an 11% share.

From 2012 to 2021, the average annual rate of growth in terms of value in Cote d'Ivoire amounted to +13.1%. The remaining importing countries recorded the following average annual rates of imports growth: Cabo Verde (+9.1% per year) and Guinea (+26.9% per year).

Import Prices by Country

The import price in ECOWAS stood at $X per ton in 2021, picking up by 87% against the previous year. Import price indicated a strong expansion from 2012 to 2021: its price increased at an average annual rate of +6.1% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, manicure or pedicure preparations import price increased by +114.4% against 2019 indices. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Guinea (+14.3%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform