Guatemala: Hair Spray Market 2024

Hair Spray Market Size in Guatemala

The Guatemalan hair spray market expanded modestly to $X in 2022, with an increase of 4.7% against the previous year. Over the period under review, consumption showed a relatively flat trend pattern. As a result, consumption attained the peak level of $X. From 2016 to 2022, the growth of the market failed to regain momentum.

Hair Spray Production in Guatemala

In value terms, hair spray production reached $X in 2022 estimated in export price. In general, production continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 when the production volume increased by 59% against the previous year. As a result, production attained the peak level of $X. From 2016 to 2022, production growth remained at a somewhat lower figure.

Hair Spray Exports

Exports from Guatemala

In 2022, after two years of decline, there was significant growth in shipments abroad of hair sprays, when their volume increased by 15% to X tons. Over the period under review, exports, however, continue to indicate a mild shrinkage. The pace of growth appeared the most rapid in 2015 with an increase of 123% against the previous year. The exports peaked at X tons in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.

In value terms, hair spray exports declined to $X in 2022. Overall, exports enjoyed a prominent increase. The pace of growth appeared the most rapid in 2020 with an increase of 120%. Over the period under review, the exports hit record highs at $X in 2015; however, from 2016 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

The Dominican Republic (X tons) was the main destination for hair spray exports from Guatemala, with a 59% share of total exports. Moreover, hair spray exports to the Dominican Republic exceeded the volume sent to the second major destination, Honduras (X tons), threefold. The United States (X kg) ranked third in terms of total exports with a 9.3% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to the Dominican Republic amounted to +14.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Honduras (+1.2% per year) and the United States (-5.0% per year).

In value terms, the Dominican Republic ($X) remains the key foreign market for hair sprays exports from Guatemala, comprising 88% of total exports. The second position in the ranking was held by the United States ($X), with a 5.1% share of total exports. It was followed by Honduras, with a 3.7% share.

From 2012 to 2022, the average annual rate of growth in terms of value to the Dominican Republic amounted to +12.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (-7.9% per year) and Honduras (+3.0% per year).

Export Prices by Country

The average hair spray export price stood at $X per ton in 2022, with a decrease of -24.8% against the previous year. Over the period under review, the export price, however, posted a prominent expansion. The most prominent rate of growth was recorded in 2020 an increase of 292% against the previous year. The export price peaked at $X per ton in 2021, and then declined remarkably in the following year.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was the Dominican Republic ($X per ton), while the average price for exports to Honduras ($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 Panama (+8.3%), while the prices for the other major destinations experienced mixed trend patterns.

Hair Spray Imports

Imports into Guatemala

In 2022, imports of hair sprays into Guatemala soared to X tons, picking up by 43% against 2021. Over the period under review, total imports indicated a measured expansion from 2012 to 2022: its volume increased at an average annual rate of +2.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +153.1% against 2020 indices. The most prominent rate of growth was recorded in 2021 when imports increased by 77% against the previous year. Over the period under review, imports hit record highs in 2022 and are likely to see gradual growth in the immediate term.

In value terms, hair spray imports soared to $X in 2022. In general, imports, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2014 with an increase of 69%. As a result, imports attained the peak of $X. From 2015 to 2022, the growth of imports failed to regain momentum.

Imports by Country

In 2022, China (X tons) constituted the largest supplier of hair spray to Guatemala, accounting for a 52% share of total imports. Moreover, hair spray imports from China exceeded the figures recorded by the second-largest supplier, the United States (X tons), threefold. The third position in this ranking was taken by Mexico (X tons), with a 10% share.

From 2012 to 2022, the average annual growth rate of volume from China amounted to +102.3%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (-1.5% per year) and Mexico (-0.7% per year).

In value terms, the largest hair spray suppliers to Guatemala were the United States ($X), China ($X) and Mexico ($X), together accounting for 75% of total imports.

China, with a CAGR of +96.2%, saw the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average hair spray import price stood at $X per ton in 2022, with a decrease of -9.3% against the previous year. Overall, the import price showed a pronounced descent. The most prominent rate of growth was recorded in 2020 an increase of 52%. Over the period under review, average import prices attained the peak figure at $X per ton in 2016; however, from 2017 to 2022, 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 Italy ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by El Salvador (+12.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform