Ghana: Cosmetics Market 2024

Cosmetics Market Size in Ghana

After four years of growth, the Ghanian cosmetics market decreased by X% to $X in 2022. Overall, consumption, however, posted strong growth. Over the period under review, the market hit record highs at $X in 2021, and then shrank modestly in the following year.

Cosmetics Production in Ghana

In value terms, cosmetics production contracted to $X in 2022 estimated in export price. Over the period under review, production, however, continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2016 with an increase of X%. As a result, production attained the peak level of $X. From 2017 to 2022, production growth remained at a somewhat lower figure.

Cosmetics Exports

Exports from Ghana

In 2022, approx. X tons of cosmetics were exported from Ghana; picking up by X% on the year before. Over the period under review, exports, however, continue to indicate a deep reduction. The pace of growth appeared the most rapid in 2015 when exports increased by X% against the previous year. As a result, the exports attained the peak of X tons. From 2016 to 2022, the growth of the exports failed to regain momentum.

In value terms, cosmetics exports rose to $X in 2022. Overall, exports, however, faced a abrupt setback. The pace of growth appeared the most rapid in 2015 when exports increased by X%. As a result, the exports attained the peak of $X. From 2016 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

The United Arab Emirates (X tons) was the main destination for cosmetics exports from Ghana, accounting for a X% share of total exports. Moreover, cosmetics exports to the United Arab Emirates exceeded the volume sent to the second major destination, Niger (X tons), more than tenfold. Burkina Faso (X tons) ranked third in terms of total exports with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to the United Arab Emirates amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Niger (X% per year) and Burkina Faso (X% per year).

In value terms, the United Arab Emirates ($X) emerged as the key foreign market for cosmetics exports from Ghana, comprising X% of total exports. The second position in the ranking was taken by the United States ($X), with a X% share of total exports. It was followed by Niger, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value to the United Arab Emirates totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (X% per year) and Niger (X% per year).

Export Prices by Country

The average cosmetics export price stood at $X per ton in 2022, which is down by X% against the previous year. In general, the export price saw a pronounced curtailment. The pace of growth appeared the most rapid in 2016 when the average export price increased by X% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2017 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 Mali ($X per ton), while the average price for exports to Burkina Faso ($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 Mali (X%), while the prices for the other major destinations experienced a decline.

Cosmetics Imports

Imports into Ghana

Cosmetics imports into Ghana stood at X tons in 2022, standing approx. at 2021 figures. In general, total imports indicated prominent growth from 2012 to 2022: its volume increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by X% against 2020 indices. The most prominent rate of growth was recorded in 2014 with an increase of X% against the previous year. Imports peaked at X tons in 2020; however, from 2021 to 2022, imports stood at a somewhat lower figure.

In value terms, cosmetics imports totaled $X in 2022. Over the period under review, total imports indicated a buoyant expansion from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by X% against 2020 indices. The growth pace was the most rapid in 2014 with an increase of X% against the previous year. 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 cosmetics supplier to Ghana, accounting for a X% share of total imports. Moreover, cosmetics imports from Cote d'Ivoire exceeded the figures recorded by the second-largest supplier, Senegal (X tons), more than tenfold. Togo (X tons) ranked third in terms of total imports with a X% share.

From 2012 to 2022, the average annual growth rate of volume from Cote d'Ivoire totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: Senegal (X% per year) and Togo (X% per year).

In value terms, Cote d'Ivoire ($X) constituted the largest supplier of cosmetics to Ghana, comprising X% of total imports. The second position in the ranking was held by Senegal ($X), with a X% share of total imports. It was followed by Togo, with a X% share.

From 2012 to 2022, the average annual growth rate of value from Cote d'Ivoire amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: Senegal (X% per year) and Togo (X% per year).

Import Prices by Country

In 2022, the average cosmetics import price amounted to $X per ton, leveling off at the previous year. Over the period under review, the import price recorded a relatively flat trend pattern. The growth pace was the most rapid in 2017 an increase of X%. The import price peaked at $X per ton in 2013; however, from 2014 to 2022, import prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Senegal (X%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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