Ghana: Shaving Preparations Market 2024

Shaving Preparations Market Size in Ghana

In 2021, after two years of decline, there was growth in the Ghanian shaving preparations market, when its value increased by 1.7% to $X. In general, consumption, however, posted measured growth. Shaving preparations consumption peaked at $X in 2018; however, from 2019 to 2021, consumption failed to regain momentum.

Shaving Preparations Production in Ghana

In value terms, shaving preparations production stood at $X in 2021 estimated in export price. Over the period under review, production, however, saw slight growth. The most prominent rate of growth was recorded in 2015 when the production volume increased by 81%. Shaving preparations production peaked at $X in 2018; however, from 2019 to 2021, production failed to regain momentum.

Shaving Preparations Exports

Exports from Ghana

In 2021, the amount of pre-shave, shaving and after-shave preparations (excluding soap in blocks) exported from Ghana contracted significantly to X tons, falling by -21.3% compared with the year before. In general, exports, however, recorded a significant increase. The growth pace was the most rapid in 2017 with an increase of 1,117%. As a result, the exports reached the peak of X tons. From 2018 to 2021, the growth of the exports failed to regain momentum.

In value terms, shaving preparations exports reduced to $X in 2021. Overall, exports, however, recorded significant growth. The pace of growth was the most pronounced in 2017 with an increase of 810%. As a result, the exports attained the peak of $X. From 2018 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

Nigeria (X tons) was the main destination for shaving preparations exports from Ghana, accounting for a 81% share of total exports. Moreover, shaving preparations exports to Nigeria exceeded the volume sent to the second major destination, Cote d'Ivoire (X tons), fivefold.

From 2012 to 2021, the average annual rate of growth in terms of volume to Nigeria stood at +92.0%.

In value terms, Nigeria ($X) remains the key foreign market for pre-shave, shaving and after-shave preparations (excluding soap in blocks) exports from Ghana, comprising 77% of total exports. The second position in the ranking was taken by Cote d'Ivoire ($X), with a 22% share of total exports.

From 2012 to 2021, the average annual growth rate of value to Nigeria totaled +80.4%.

Export Prices by Country

In 2021, the average shaving preparations export price amounted to $X per ton, picking up by 13% against the previous year. Overall, the export price, however, recorded a perceptible slump. The pace of growth appeared the most rapid in 2015 when the average export price increased by 62% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2016 to 2021, the average export prices failed to regain momentum.

Average prices varied somewhat for the major export markets. In 2021, the country with the highest price was Cote d'Ivoire ($X per ton), while the average price for exports to Nigeria amounted to $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Nigeria (-6.0%).

Shaving Preparations Imports

Imports into Ghana

In 2021, approx. X tons of pre-shave, shaving and after-shave preparations (excluding soap in blocks) were imported into Ghana; with an increase of 87% against the previous year's figure. Overall, imports saw a buoyant expansion. The growth pace was the most rapid in 2014 when imports increased by 391%. Over the period under review, imports hit record highs at X tons in 2016; however, from 2017 to 2021, imports failed to regain momentum.

In value terms, shaving preparations imports skyrocketed to $X in 2021. In general, imports recorded a significant expansion. The most prominent rate of growth was recorded in 2014 with an increase of 563%. Imports peaked at $X in 2015; however, from 2016 to 2021, imports stood at a somewhat lower figure.

Imports by Country

Germany (X tons), the UK (X tons) and the United States (X tons) were the main suppliers of shaving preparations imports to Ghana, with a combined 51% share of total imports.

From 2012 to 2021, the biggest increases were recorded for the United States (with a CAGR of +49.9%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X) constituted the largest supplier of pre-shave, shaving and after-shave preparations (excluding soap in blocks) to Ghana, comprising 35% of total imports. The second position in the ranking was taken by the United States ($X), with an 8.5% share of total imports. It was followed by the UK, with a 4.8% share.

From 2012 to 2021, the average annual growth rate of value from Germany totaled +48.4%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+56.8% per year) and the UK (+14.4% per year).

Import Prices by Country

In 2021, the average shaving preparations import price amounted to $X per ton, surging by 55% against the previous year. Overall, the import price showed a buoyant expansion. The pace of growth appeared the most rapid in 2020 when the average import price increased by 128%. Over the period under review, average import prices reached the peak figure in 2021 and is likely to continue growth in the near future.

Prices varied noticeably country of origin: the country with the highest price was Germany ($X per ton), while the price for Cote d'Ivoire ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by India (+21.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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