Latin America and the Caribbean: Market for Preparations For Permanent Waving Or Straightening Of Hair 2024

Market Size for Preparations For Permanent Waving Or Straightening Of Hair in Latin America and the Caribbean

The Latin American market for preparations for permanent waving or straightening of hair was finally on the rise to reach $X in 2021, after four years of decline. Overall, consumption, however, showed a pronounced reduction. Over the period under review, the market attained the maximum level at $X in 2012; however, from 2013 to 2021, consumption failed to regain momentum.

Production of Preparations For Permanent Waving Or Straightening Of Hair in Latin America and the Caribbean

In value terms, hair waving or straightening preparations production expanded markedly to $X in 2021 estimated in export price. Overall, production, however, showed a perceptible downturn. The pace of growth appeared the most rapid in 2015 with an increase of 13% against the previous year. Over the period under review, production reached the maximum level at $X in 2012; however, from 2013 to 2021, production failed to regain momentum.

Exports of Preparations For Permanent Waving Or Straightening Of Hair

Exports in Latin America and the Caribbean

In 2021, overseas shipments of preparations for permanent waving or straightening of hair increased by 22% to X tons, rising for the fifth year in a row after two years of decline. Over the period under review, exports continue to indicate a resilient increase. The most prominent rate of growth was recorded in 2017 with an increase of 50% against the previous year. The volume of export peaked in 2021 and is likely to continue growth in years to come.

In value terms, hair waving or straightening preparations exports expanded sharply to $X in 2021. In general, exports continue to indicate a buoyant increase. The pace of growth appeared the most rapid in 2018 with an increase of 94%. Over the period under review, the exports attained the peak figure in 2021 and are expected to retain growth in the immediate term.

Exports by Country

Brazil (X tons) and Peru (X tons) dominates exports structure, together comprising 87% of total exports. It was distantly followed by Panama (X tons), committing a 4.9% share of total exports. Trinidad and Tobago (X tons) took a minor share of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by Peru (with a CAGR of +94.7%), while the other leaders experienced more modest paces of growth.

In value terms, Brazil ($X) remains the largest hair waving or straightening preparations supplier in Latin America and the Caribbean, comprising 75% of total exports. The second position in the ranking was held by Peru ($X), with a 19% share of total exports. It was followed by Panama, with a 2.6% share.

From 2012 to 2021, the average annual growth rate of value in Brazil stood at +16.3%. In the other countries, the average annual rates were as follows: Peru (+70.1% per year) and Panama (-8.4% per year).

Export Prices by Country

In 2021, the export price in Latin America and the Caribbean amounted to $X per ton, shrinking by -10.8% against the previous year. Export price indicated perceptible growth from 2012 to 2021: its price increased at an average annual rate of +2.9% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, hair waving or straightening preparations export price decreased by -21.8% against 2018 indices. The pace of growth was the most pronounced in 2018 an increase of 35%. As a result, the export price attained the peak level of $X per ton. From 2019 to 2021, the export prices remained at a somewhat lower figure.

Prices varied noticeably country of origin: the country with the highest price was Brazil ($X per ton), while Trinidad and Tobago ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Panama (+1.8%), while the other leaders experienced mixed trends in the export price figures.

Imports of Preparations For Permanent Waving Or Straightening Of Hair

Imports in Latin America and the Caribbean

In 2021, the amount of preparations for permanent waving or straightening of hair imported in Latin America and the Caribbean soared to X tons, jumping by 39% against 2020 figures. In general, imports, however, continue to indicate a pronounced contraction. The volume of import peaked at X tons in 2014; however, from 2015 to 2021, imports failed to regain momentum.

In value terms, hair waving or straightening preparations imports soared to $X in 2021. Over the period under review, imports, however, saw a noticeable curtailment. Over the period under review, imports attained the peak figure at $X in 2013; however, from 2014 to 2021, imports failed to regain momentum.

Imports by Country

Colombia represented the key importing country with an import of about X tons, which recorded 31% of total imports. The Dominican Republic (X tons) ranks second in terms of the total imports with an 11% share, followed by Chile (9.3%) and Panama (5.7%). The following importers - Ecuador (X tons), El Salvador (X tons), Haiti (X tons), Honduras (X tons), Mexico (X tons), Costa Rica (X tons), Nicaragua (X tons), Trinidad and Tobago (X tons) and Guatemala (X tons) - together made up 28% of total imports.

Colombia experienced a relatively flat trend pattern with regard to volume of imports of preparations for permanent waving or straightening of hair. At the same time, Chile (+20.2%), El Salvador (+9.1%), Guatemala (+8.8%), Honduras (+7.8%) and Mexico (+2.1%) displayed positive paces of growth. Moreover, Chile emerged as the fastest-growing importer imported in Latin America and the Caribbean, with a CAGR of +20.2% from 2012-2021. Costa Rica experienced a relatively flat trend pattern. By contrast, Ecuador (-2.8%), Panama (-8.3%), the Dominican Republic (-9.0%), Trinidad and Tobago (-11.3%), Haiti (-12.3%) and Nicaragua (-18.1%) illustrated a downward trend over the same period. Colombia (+12 p.p.), Chile (+8.1 p.p.), El Salvador (+2.7 p.p.), Honduras (+2.2 p.p.) and Guatemala (+1.7 p.p.) significantly strengthened its position in terms of the total imports, while Trinidad and Tobago, Panama, Haiti, the Dominican Republic and Nicaragua saw its share reduced by -2.3%, -2.4%, -3.8%, -5.9% and -8.4% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest hair waving or straightening preparations importing markets in Latin America and the Caribbean were Colombia ($X), the Dominican Republic ($X) and Chile ($X), together accounting for 48% of total imports.

Among the main importing countries, Chile, with a CAGR of +15.3%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the import price in Latin America and the Caribbean amounted to $X per ton, waning by -15.3% against the previous year. Import price indicated a modest increase from 2012 to 2021: its price increased at an average annual rate of +1.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, hair waving or straightening preparations import price decreased by -23.3% against 2017 indices. The pace of growth was the most pronounced in 2016 an increase of 28%. The level of import peaked at $X per ton in 2017; however, from 2018 to 2021, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2021, the country with the highest price was Mexico ($X per ton), while Haiti ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Nicaragua (+10.5%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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