Latvia: Market for Manicure Or Pedicure Preparations 2024

Market Size for Manicure Or Pedicure Preparations in Latvia

In 2022, the Latvian manicure or pedicure preparations market was finally on the rise to reach $X after five years of decline. In general, consumption, however, continues to indicate a mild descent. Manicure or pedicure preparations consumption peaked at $X in 2013; however, from 2014 to 2022, consumption stood at a somewhat lower figure.

Production of Manicure Or Pedicure Preparations in Latvia

In value terms, manicure or pedicure preparations production stood at $X in 2022 estimated in export price. Overall, production saw a significant expansion. The pace of growth appeared the most rapid in 2013 when the production volume increased by 1,165%. Over the period under review, production hit record highs at $X in 2016; however, from 2017 to 2022, production remained at a lower figure.

Exports of Manicure Or Pedicure Preparations

Exports from Latvia

In 2022, shipments abroad of manicure or pedicure preparations decreased by -23.4% to X tons for the first time since 2016, thus ending a five-year rising trend. In general, exports, however, enjoyed strong growth. The pace of growth appeared the most rapid in 2013 when exports increased by 97% against the previous year. Over the period under review, the exports hit record highs at X tons in 2021, and then reduced sharply in the following year.

In value terms, manicure or pedicure preparations exports fell dramatically to $X in 2022. Overall, exports, however, showed resilient growth. The most prominent rate of growth was recorded in 2021 with an increase of 53% against the previous year. As a result, the exports attained the peak of $X, and then contracted sharply in the following year.

Exports by Country

Italy (X tons), Poland (X tons) and Canada (X tons) were the main destinations of manicure or pedicure preparations exports from Latvia, together accounting for 33% of total exports. Spain, Lithuania, Estonia, Sweden, Portugal, Brazil, Russia, the United Arab Emirates, Bulgaria and the UK lagged somewhat behind, together accounting for a further 53%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Bulgaria (with a CAGR of +192.1%), while the other leaders experienced more modest paces of growth.

In value terms, Poland ($X), Canada ($X) and Italy ($X) constituted the largest markets for manicure or pedicure preparations exported from Latvia worldwide, together comprising 37% of total exports. Portugal, Sweden, Lithuania, Spain, the UK, the United Arab Emirates, Estonia, Russia, Brazil and Bulgaria lagged somewhat behind, together comprising a further 42%.

Bulgaria, with a CAGR of +156.9%, saw 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 manicure or pedicure preparations export price amounted to $X per ton, waning by -8.1% against the previous year. In general, the export price, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 an increase of 32%. The export price peaked at $X per ton in 2021, and then fell 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 UK ($X per ton), while the average price for exports to Estonia ($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 the UK (+9.8%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Manicure Or Pedicure Preparations

Imports into Latvia

After two years of decline, purchases abroad of manicure or pedicure preparations increased by 22% to X tons in 2022. In general, imports continue to indicate a relatively flat trend pattern. Imports peaked at X tons in 2015; however, from 2016 to 2022, imports failed to regain momentum.

In value terms, manicure or pedicure preparations imports dropped to $X in 2022. Over the period under review, imports, however, showed a slight decline. The pace of growth appeared the most rapid in 2013 when imports increased by 25% against the previous year. Over the period under review, imports attained the maximum at $X in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.

Imports by Country

France (X tons), Germany (X tons) and the Czech Republic (X tons) were the main suppliers of manicure or pedicure preparations imports to Latvia, with a combined 56% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by the Czech Republic (with a CAGR of +68.6%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest manicure or pedicure preparations suppliers to Latvia were Germany ($X), France ($X) and Lithuania ($X), with a combined 52% share of total imports. Poland, the Netherlands, Belgium, the United States, Ukraine, Estonia, Luxembourg, Turkey, the Czech Republic and Italy lagged somewhat behind, together accounting for a further 39%.

The Czech Republic, with a CAGR of +22.6%, recorded the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average manicure or pedicure preparations import price amounted to $X per ton, reducing by -22.5% against the previous year. Over the period under review, the import price recorded a slight decrease. The most prominent rate of growth was recorded in 2017 when the average import price increased by 18%. Over the period under review, average import prices hit record highs at $X per ton in 2013; however, from 2014 to 2022, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Estonia ($X per ton), while the price for the Czech Republic ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Poland (+14.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform