Latvia: Eye Make-Up Preparations Market 2024

Eye Make-Up Preparations Market Size in Latvia

In 2022, after four years of growth, there was decline in the Latvian eye make-up preparations market, when its value decreased by -4.8% to $X. In general, the total consumption indicated a mild increase from 2012 to 2022: its value increased at an average annual rate of +1.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +44.2% against 2017 indices. As a result, consumption attained the peak level of $X. From 2014 to 2022, the growth of the market remained at a somewhat lower figure.

Eye Make-Up Preparations Production in Latvia

In value terms, eye make-up preparations production fell to $X in 2022 estimated in export price. Over the period under review, production showed a pronounced decline. The pace of growth was the most pronounced in 2019 with an increase of 67%. Eye make-up preparations production peaked at $X in 2013; however, from 2014 to 2022, production stood at a somewhat lower figure.

Eye Make-Up Preparations Exports

Exports from Latvia

In 2022, overseas shipments of eye make-up preparations decreased by -23.5% to X tons for the first time since 2017, thus ending a four-year rising trend. Overall, exports showed a slight decline. The pace of growth appeared the most rapid in 2015 with an increase of 78%. As a result, the exports reached the peak of X tons. From 2016 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, eye make-up preparations exports reduced rapidly to $X in 2022. Over the period under review, exports continue to indicate a noticeable reduction. The growth pace was the most rapid in 2018 with an increase of 45% against the previous year. Over the period under review, the exports reached the maximum at $X in 2021, and then declined notably in the following year.

Exports by Country

Lithuania (X tons), Estonia (X tons) and Germany (X tons) were the main destinations of eye make-up preparations exports from Latvia, with a combined 80% share of total exports. Spain, Russia, Hungary and Poland lagged somewhat behind, together comprising a further 12%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Spain (with a CAGR of +110.9%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for eye make-up preparations exported from Latvia were Lithuania ($X), Estonia ($X) and Germany ($X), together comprising 68% of total exports. Russia, Spain, Poland and Hungary lagged somewhat behind, together comprising a further 15%.

Spain, with a CAGR of +101.6%, recorded the highest growth rate of the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average eye make-up preparations export price amounted to $X per ton, which is down by -13.7% against the previous year. Over the period under review, the export price showed a mild setback. The pace of growth was the most pronounced in 2016 an increase of 29% against the previous year. The export price peaked at $X per ton in 2014; however, from 2015 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Poland ($X per ton), while the average price for exports to Hungary ($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 Poland (+6.1%), while the prices for the other major destinations experienced mixed trend patterns.

Eye Make-Up Preparations Imports

Imports into Latvia

In 2022, after two years of growth, there was significant decline in purchases abroad of eye make-up preparations, when their volume decreased by -8.6% to X tons. Overall, imports, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when imports increased by 26%. Over the period under review, imports attained the maximum at X tons in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.

In value terms, eye make-up preparations imports reduced to $X in 2022. Over the period under review, total imports indicated a moderate expansion from 2012 to 2022: its value increased at an average annual rate of +2.6% 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 +45.2% against 2017 indices. The most prominent rate of growth was recorded in 2018 with an increase of 22% against the previous year. Over the period under review, imports attained the peak figure at $X in 2021, and then declined in the following year.

Imports by Country

In 2022, Germany (X tons) constituted the largest eye make-up preparations supplier to Latvia, accounting for a 40% share of total imports. Moreover, eye make-up preparations imports from Germany exceeded the figures recorded by the second-largest supplier, Poland (X tons), twofold. The third position in this ranking was taken by Russia (X tons), with a 12% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Germany stood at +23.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Poland (+3.5% per year) and Russia (+6.0% per year).

In value terms, Germany ($X), Poland ($X) and Lithuania ($X) were the largest eye make-up preparations suppliers to Latvia, together accounting for 61% of total imports. Russia, Belgium, China, Belarus, France, Italy, Turkey, the Netherlands and the United Arab Emirates lagged somewhat behind, together comprising a further 26%.

In terms of the main suppliers, Belgium, with a CAGR of +39.1%, saw the highest rates of growth with regard to 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

The average eye make-up preparations import price stood at $X per ton in 2022, shrinking by -5.6% against the previous year. Over the last decade, it increased at an average annual rate of +2.1%. The pace of growth appeared the most rapid in 2016 an increase of 20% against the previous year. Over the period under review, average import prices hit record highs at $X per ton in 2021, and then dropped in the following year.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+19.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform