Ghana: Market for Hair Lotion and Preparation 2024

Market Size for Hair Lotion and Preparation in Ghana

In 2021, the Ghanian hair lotion and preparation market increased by 6% to $X, rising for the third year in a row after two years of decline. In general, consumption, however, continues to indicate a abrupt shrinkage. Over the period under review, the market reached the maximum level at $X in 2014; however, from 2015 to 2021, consumption stood at a somewhat lower figure.

Exports of Hair Lotion and Preparation

Exports from Ghana

In 2021, after two years of decline, there was significant growth in shipments abroad of hair lotion and preparation, when their volume increased by 124% to X tons. Overall, exports enjoyed a slight increase. The pace of growth appeared the most rapid in 2018 when exports increased by 996% against the previous year. As a result, the exports reached the peak of X tons. From 2019 to 2021, the growth of the exports failed to regain momentum.

In value terms, hair lotion and preparation exports totaled $X in 2021. In general, exports, however, faced a abrupt descent. The pace of growth appeared the most rapid in 2018 with an increase of 601% against the previous year. As a result, the exports reached the peak of $X. From 2019 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

Gambia (X tons) was the main destination for hair lotion and preparation exports from Ghana, with a 70% share of total exports. Moreover, hair lotion and preparation exports to Gambia exceeded the volume sent to the second major destination, the United States (X tons), fourfold. South Africa (X tons) ranked third in terms of total exports with a 5.4% share.

From 2012 to 2021, the average annual growth rate of volume to Gambia stood at +174.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+69.1% per year) and South Africa (+4.0% per year).

In value terms, the United States ($X) remains the key foreign market for hair lotion and preparation exports from Ghana, comprising 43% of total exports. The second position in the ranking was taken by Gambia ($X), with a 12% share of total exports. It was followed by the United Arab Emirates, with an 11% share.

From 2012 to 2021, the average annual rate of growth in terms of value to the United States amounted to +51.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Gambia (+142.3% per year) and the United Arab Emirates (-16.3% per year).

Export Prices by Country

In 2021, the average hair lotion and preparation export price amounted to $X per ton, falling by -49% against the previous year. In general, the export price faced a abrupt downturn. The most prominent rate of growth was recorded in 2019 an increase of 32% against the previous year. Over the period under review, the average export prices attained the peak figure at $X per ton in 2012; however, from 2013 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices for the major external markets. In 2021, amid the top suppliers, the country with the highest price was Nigeria ($X per ton), while the average price for exports to Gambia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Nigeria (+9.9%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Hair Lotion and Preparation

Imports into Ghana

In 2021, the amount of hair lotion and preparation imported into Ghana expanded notably to X tons, with an increase of 12% compared with the year before. Overall, imports, however, continue to indicate a pronounced decrease. The pace of growth was the most pronounced in 2018 with an increase of 36% against the previous year. Imports peaked at X tons in 2012; however, from 2013 to 2021, imports remained at a lower figure.

In value terms, hair lotion and preparation imports expanded notably to $X in 2021. Over the period under review, imports, however, recorded a deep setback. The most prominent rate of growth was recorded in 2014 when imports increased by 19%. As a result, imports attained the peak of $X. From 2015 to 2021, the growth of imports remained at a somewhat lower figure.

Imports by Country

The United States (X tons), Nigeria (X tons) and China (X tons) were the main suppliers of hair lotion and preparation imports to Ghana, together accounting for 78% of total imports.

From 2012 to 2021, the biggest increases were recorded for China (with a CAGR of +51.5%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X), the United Arab Emirates ($X) and the UK ($X) appeared to be the largest hair lotion and preparation suppliers to Ghana, together accounting for 58% of total imports. Nigeria, South Africa and China lagged somewhat behind, together comprising a further 29%.

China, with a CAGR of +48.5%, recorded the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average hair lotion and preparation import price amounted to $X per ton, approximately equating the previous year. In general, the import price, however, saw a pronounced contraction. The growth pace was the most rapid in 2017 when the average import price increased by 26% against the previous year. Over the period under review, average import prices reached the maximum at $X per ton in 2014; however, from 2015 to 2021, import prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+10.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform