GCC: Hair Spray Market 2024

Hair Spray Market Size in GCC

In 2022, the GCC hair spray market decreased by -3.5% to $X, falling for the second year in a row after five years of growth. Over the period under review, consumption, however, recorded buoyant growth. The level of consumption peaked at $X in 2020; however, from 2021 to 2022, consumption stood at a somewhat lower figure.

Hair Spray Production in GCC

In value terms, hair spray production expanded modestly to $X in 2022 estimated in export price. In general, production, however, continues to indicate strong growth. The most prominent rate of growth was recorded in 2014 when the production volume increased by 49%. The level of production peaked at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Hair Spray Exports

Exports in GCC

In 2022, overseas shipments of hair sprays increased by 7.8% to X tons, rising for the second consecutive year after two years of decline. In general, exports, however, recorded a perceptible setback. The pace of growth was the most pronounced in 2018 with an increase of 60% against the previous year. The volume of export peaked at X tons in 2015; however, from 2016 to 2022, the exports stood at a somewhat lower figure.

In value terms, hair spray exports stood at $X in 2022. Over the period under review, exports, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2015 with an increase of 87% against the previous year. As a result, the exports reached the peak of $X. From 2016 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

The United Arab Emirates dominates exports structure, finishing at X tons, which was near 88% of total exports in 2022. It was distantly followed by Oman (X tons), achieving a 5.7% share of total exports. The following exporters - Bahrain (X tons) and Saudi Arabia (X tons) - together made up 5.3% of total exports.

Exports from the United Arab Emirates decreased at an average annual rate of -1.6% from 2012 to 2022. At the same time, Bahrain (+9.8%) and Oman (+9.2%) displayed positive paces of growth. Moreover, Bahrain emerged as the fastest-growing exporter exported in GCC, with a CAGR of +9.8% from 2012-2022. By contrast, Saudi Arabia (-22.3%) illustrated a downward trend over the same period. While the share of the United Arab Emirates (+7.3 p.p.), Oman (+3.9 p.p.) and Bahrain (+2.6 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Saudi Arabia (-14.4 p.p.) displayed negative dynamics.

In value terms, the United Arab Emirates ($X) remains the largest hair spray supplier in GCC, comprising 79% of total exports. The second position in the ranking was taken by Oman ($X), with a 13% share of total exports. It was followed by Saudi Arabia, with a 5.4% share.

In the United Arab Emirates, hair spray exports increased at an average annual rate of +1.1% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Oman (+10.6% per year) and Saudi Arabia (-16.1% per year).

Export Prices by Country

In 2022, the export price in GCC amounted to $X per ton, which is down by -4.2% against the previous year. Export price indicated a mild expansion from 2012 to 2022: its price increased at an average annual rate of +1.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, hair spray export price decreased by -19.3% against 2020 indices. The most prominent rate of growth was recorded in 2015 an increase of 51% against the previous year. Over the period under review, the export prices reached the peak figure at $X per ton in 2016; however, from 2017 to 2022, the export prices stood at a somewhat lower figure.

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 Saudi Arabia ($X per ton), while Bahrain ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Saudi Arabia (+8.0%), while the other leaders experienced more modest paces of growth.

Hair Spray Imports

Imports in GCC

After three years of growth, overseas purchases of hair sprays decreased by -26.6% to X tons in 2022. Overall, imports, however, saw measured growth. The growth pace was the most rapid in 2019 with an increase of 85% against the previous year. The volume of import peaked at X tons in 2021, and then declined markedly in the following year.

In value terms, hair spray imports reduced notably to $X in 2022. In general, imports, however, showed a slight increase. The most prominent rate of growth was recorded in 2019 when imports increased by 126%. The level of import peaked at $X in 2021, and then reduced remarkably in the following year.

Imports by Country

The United Arab Emirates dominates imports structure, amounting to X tons, which was approx. 84% of total imports in 2022. It was distantly followed by Kuwait (X tons), comprising a 7.9% share of total imports. The following importers - Qatar (X tons) and Oman (X tons) - each accounted for a 6.2% share of total imports.

The United Arab Emirates was also the fastest-growing in terms of the hair sprays imports, with a CAGR of +7.4% from 2012 to 2022. At the same time, Qatar (+6.7%) and Kuwait (+1.7%) displayed positive paces of growth. By contrast, Oman (-6.0%) illustrated a downward trend over the same period. The United Arab Emirates (+29 p.p.) significantly strengthened its position in terms of the total imports, while Oman saw its share reduced by -4.1% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United Arab Emirates ($X) constitutes the largest market for imported hair sprays in GCC, comprising 78% of total imports. The second position in the ranking was taken by Kuwait ($X), with a 7.9% share of total imports. It was followed by Qatar, with a 7.5% share.

From 2012 to 2022, the average annual rate of growth in terms of value in the United Arab Emirates totaled +3.9%. The remaining importing countries recorded the following average annual rates of imports growth: Kuwait (+3.0% per year) and Qatar (+7.7% per year).

Import Prices by Country

The import price in GCC stood at $X per ton in 2022, reducing by -8.8% against the previous year. In general, the import price saw a mild setback. The pace of growth was the most pronounced in 2019 when the import price increased by 22%. The level of import peaked at $X per ton in 2015; however, from 2016 to 2022, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Qatar ($X per ton), while the United Arab Emirates ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Oman (+2.4%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform