ECOWAS: Market for Preparations For Permanent Waving Or Straightening Of Hair 2024

Market Size for Preparations For Permanent Waving Or Straightening Of Hair in ECOWAS

In 2021, the ECOWAS market for preparations for permanent waving or straightening of hair increased by 16% to $X, rising for the second consecutive year after two years of decline. The market value increased at an average annual rate of +4.8% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The level of consumption peaked in 2021 and is expected to retain growth in years to come.

Production of Preparations For Permanent Waving Or Straightening Of Hair in ECOWAS

In value terms, hair waving or straightening preparations production fell to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +1.7% from 2012 to 2021; the trend pattern remained relatively stable, with somewhat noticeable fluctuations throughout the analyzed period. The growth pace was the most rapid in 2017 when the production volume increased by 24% against the previous year. The level of production peaked at $X in 2020, and then fell in the following year.

Exports of Preparations For Permanent Waving Or Straightening Of Hair

Exports in ECOWAS

In 2021, the amount of preparations for permanent waving or straightening of hair exported in ECOWAS declined notably to X tons, shrinking by -91.5% on 2020. Overall, exports showed a sharp setback. The pace of growth was the most pronounced in 2014 with an increase of 28%. As a result, the exports reached the peak of X tons. From 2015 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, hair waving or straightening preparations exports shrank significantly to $X in 2021. In general, exports saw a sharp shrinkage. The pace of growth was the most pronounced in 2018 when exports increased by 28% against the previous year. Over the period under review, the exports attained the maximum at $X in 2014; however, from 2015 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

In 2021, Cote d'Ivoire (X tons) was the largest exporter of preparations for permanent waving or straightening of hair, committing 52% of total exports. Nigeria (X tons) took a 33% share (based on physical terms) of total exports, which put it in second place, followed by Togo (14%).

From 2012 to 2021, the biggest increases were recorded for Togo (with a CAGR of +11.5%), while shipments for the other leaders experienced mixed trends in the exports figures.

In value terms, Nigeria ($X), Cote d'Ivoire ($X) and Togo ($X) constituted the countries with the highest levels of exports in 2021, with a combined 99% share of total exports.

In terms of the main exporting countries, Nigeria, with a CAGR of +8.6%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced mixed trends in the exports figures.

Export Prices by Country

The export price in ECOWAS stood at $X per ton in 2021, jumping by 39% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +1.4%. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Nigeria (+8.1%), while the other leaders experienced a decline in the export price figures.

Imports of Preparations For Permanent Waving Or Straightening Of Hair

Imports in ECOWAS

In 2021, overseas purchases of preparations for permanent waving or straightening of hair decreased by -39.8% to X tons, falling for the second year in a row after four years of growth. Overall, imports continue to indicate a abrupt shrinkage. The pace of growth appeared the most rapid in 2014 when imports increased by 31% against the previous year. As a result, imports reached the peak of X tons. From 2015 to 2021, the growth of imports remained at a lower figure.

In value terms, hair waving or straightening preparations imports dropped dramatically to $X in 2021. In general, imports showed a abrupt contraction. The most prominent rate of growth was recorded in 2017 with an increase of 19% against the previous year. The level of import peaked at $X in 2014; however, from 2015 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, Burkina Faso (X tons), distantly followed by Mali (X tons), Ghana (X tons), Niger (X tons), Liberia (X tons) and Guinea (X tons) represented the largest importers of preparations for permanent waving or straightening of hair, together committing 90% of total imports. Togo (X tons) held a relatively small share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Burkina Faso (with a CAGR of +36.7%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Ghana ($X) constitutes the largest market for imported preparations for permanent waving or straightening of hair in ECOWAS, comprising 41% of total imports. The second position in the ranking was held by Mali ($X), with a 16% share of total imports. It was followed by Niger, with a 10% share.

In Ghana, hair waving or straightening preparations imports plunged by an average annual rate of -5.3% over the period from 2012-2021. The remaining importing countries recorded the following average annual rates of imports growth: Mali (+6.0% per year) and Niger (+8.0% per year).

Import Prices by Country

The import price in ECOWAS stood at $X per ton in 2021, picking up by 6.1% against the previous year. In general, the import price, however, showed a perceptible descent. The most prominent rate of growth was recorded in 2017 when the import price increased by 16% against the previous year. Over the period under review, import prices reached the maximum at $X per ton in 2013; however, from 2014 to 2021, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2021, the country with the highest price was Ghana ($X per ton), while Burkina Faso ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Ghana (+7.5%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform