Ghana: Market for Beauty, Make-Up And Skin Care Preparations 2024

Market Size for Beauty, Make-Up And Skin Care Preparations in Ghana

The Ghanian market for beauty, make-up and skin care preparations surged to $X in 2022, growing by 161% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption saw strong growth. Consumption of peaked at $X in 2020; however, from 2021 to 2022, consumption failed to regain momentum.

Exports of Beauty, Make-Up And Skin Care Preparations

Exports from Ghana

After three years of growth, overseas shipments of beauty, make-up and skin care preparations decreased by -6.1% to X tons in 2022. Overall, exports recorded a abrupt setback. The most prominent rate of growth was recorded in 2015 with an increase of 2,780% against the previous year. As a result, the exports reached the peak of X tons. From 2016 to 2022, the growth of the exports of failed to regain momentum.

In value terms, exports of beauty, make-up and skin care preparations totaled $X in 2022. In general, exports saw a deep downturn. The most prominent rate of growth was recorded in 2015 when exports increased by 1,865%. As a result, the exports attained the peak of $X. From 2016 to 2022, the growth of the exports of remained at a somewhat lower figure.

Exports by Country

Cote d'Ivoire (X tons), Mali (X tons) and the United States (X tons) were the main destinations of exports of beauty, make-up and skin care preparations from Ghana, together accounting for 69% of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Cote d'Ivoire (with a CAGR of +174.6%), while the other leaders experienced more modest paces of growth.

In value terms, Cote d'Ivoire ($X), Mali ($X) and the United States ($X) constituted the largest markets for beauty, make-up and skin care preparations exported from Ghana worldwide, together accounting for 56% of total exports.

Cote d'Ivoire, with a CAGR of +103.5%, recorded the highest rates of growth with regard to the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average export price for beauty, make-up and skin care preparations amounted to $X per ton, with an increase of 17% against the previous year. In general, the export price, however, showed a abrupt setback. The most prominent rate of growth was recorded in 2014 an increase of 24% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2015 to 2022, the average export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Benin ($X per ton), while the average price for exports to Togo ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Niger (-0.5%), while the prices for the other major destinations experienced a decline.

Imports of Beauty, Make-Up And Skin Care Preparations

Imports into Ghana

In 2022, approx. X tons of beauty, make-up and skin care preparations were imported into Ghana; increasing by 129% on the previous year's figure. In general, imports saw mild growth. Imports peaked at X tons in 2020; however, from 2021 to 2022, imports remained at a lower figure.

In value terms, imports of beauty, make-up and skin care preparations surged to $X in 2022. Overall, imports continue to indicate a pronounced expansion. Imports peaked at $X in 2020; however, from 2021 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, Cote d'Ivoire (X tons) constituted the largest supplier of beauty, make-up and skin care preparations to Ghana, with a 81% share of total imports. Moreover, imports of beauty, make-up and skin care preparations from Cote d'Ivoire exceeded the figures recorded by the second-largest supplier, Togo (X tons), more than tenfold. South Africa (X tons) ranked third in terms of total imports with a 2.9% share.

From 2012 to 2022, the average annual growth rate of volume from Cote d'Ivoire amounted to +3.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Togo (+17.3% per year) and South Africa (-2.2% per year).

In value terms, Cote d'Ivoire ($X) constituted the largest supplier of beauty, make-up and skin care preparations to Ghana, comprising 76% of total imports. The second position in the ranking was held by Togo ($X), with a 3.6% share of total imports. It was followed by Senegal, with a 3% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Cote d'Ivoire stood at +10.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Togo (+21.8% per year) and Senegal (+20.6% per year).

Import Prices by Country

In 2022, the average import price for beauty, make-up and skin care preparations amounted to $X per ton, shrinking by -13.3% against the previous year. In general, the import price, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 an increase of 32%. As a result, import price reached the peak level of $X per ton, and then shrank in the following year.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United States ($X per ton), while the price for South Africa ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Cote d'Ivoire (+7.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :