Lithuania: Lip Make-Up Preparations Market 2024

Lip Make-Up Preparations Market Size in Lithuania

In 2022, after two years of decline, there was significant growth in the Lithuanian lip make-up preparations market, when its value increased by 86% to $X. In general, consumption continues to indicate a resilient increase. Lip make-up preparations consumption peaked at $X in 2016; however, from 2017 to 2022, consumption remained at a lower figure.

Lip Make-Up Preparations Production in Lithuania

In value terms, lip make-up preparations production reduced slightly to $X in 2022 estimated in export price. In general, production enjoyed significant growth. The most prominent rate of growth was recorded in 2021 when the production volume increased by 7,792%. As a result, production reached the peak level of $X, and then fell slightly in the following year.

Lip Make-Up Preparations Exports

Exports from Lithuania

Lip make-up preparations exports from Lithuania reduced rapidly to X tons in 2022, dropping by -21.8% compared with 2021 figures. Overall, exports, however, enjoyed a notable expansion. The most prominent rate of growth was recorded in 2017 with an increase of 38%. As a result, the exports attained the peak of X tons. From 2018 to 2022, the growth of the exports remained at a lower figure.

In value terms, lip make-up preparations exports shrank dramatically to $X in 2022. Over the period under review, exports recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 when exports increased by 67%. As a result, the exports reached the peak of $X. From 2018 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

Russia (X tons) was the main destination for lip make-up preparations exports from Lithuania, accounting for a 60% share of total exports. Moreover, lip make-up preparations exports to Russia exceeded the volume sent to the second major destination, Belarus (X tons), twofold. Latvia (X tons) ranked third in terms of total exports with a 4.6% share.

From 2012 to 2022, the average annual growth rate of volume to Russia totaled +3.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Belarus (+57.0% per year) and Latvia (-4.6% per year).

In value terms, Russia ($X) remains the key foreign market for lip make-up preparations exports from Lithuania, comprising 56% of total exports. The second position in the ranking was held by Belarus ($X), with an 18% share of total exports. It was followed by Kazakhstan, with an 8.1% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Russia stood at -3.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Belarus (+51.1% per year) and Kazakhstan (+3.4% per year).

Export Prices by Country

In 2022, the average lip make-up preparations export price amounted to $X per ton, shrinking by -9.3% against the previous year. Overall, the export price continues to indicate a perceptible shrinkage. The most prominent rate of growth was recorded in 2017 when the average export price increased by 21%. Over the period under review, the average export prices attained the peak figure at $X per ton in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

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 Kazakhstan ($X per ton), while the average price for exports to Belarus ($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 Estonia (+2.8%), while the prices for the other major destinations experienced more modest paces of growth.

Lip Make-Up Preparations Imports

Imports into Lithuania

Lip make-up preparations imports into Lithuania dropped modestly to X tons in 2022, falling by -4.9% against 2021. Overall, imports, however, showed buoyant growth. The growth pace was the most rapid in 2014 with an increase of 61%. Over the period under review, imports attained the maximum at X tons in 2017; however, from 2018 to 2022, imports failed to regain momentum.

In value terms, lip make-up preparations imports declined to $X in 2022. Over the period under review, imports, however, posted a prominent increase. The growth pace was the most rapid in 2013 when imports increased by 67% against the previous year. Imports peaked at $X in 2019; however, from 2020 to 2022, imports failed to regain momentum.

Imports by Country

Italy (X tons), Poland (X tons) and Spain (X tons) were the main suppliers of lip make-up preparations imports to Lithuania, with a combined 60% share of total imports.

From 2012 to 2022, the biggest increases were recorded for Spain (with a CAGR of +59.4%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Italy ($X), Poland ($X) and France ($X) appeared to be the largest lip make-up preparations suppliers to Lithuania, together accounting for 56% of total imports. Spain, Germany, the Czech Republic, Latvia, the Netherlands, Turkey and the UK lagged somewhat behind, together accounting for a further 34%.

Among the main suppliers, Spain, with a CAGR of +55.9%, recorded 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 lip make-up preparations import price stood at $X per ton in 2022, shrinking by -7.3% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.6%. The pace of growth was the most pronounced in 2013 when the average import price increased by 36% against the previous year. As a result, import price reached the peak level of $X per ton. From 2014 to 2022, the average 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 the UK ($X per ton), while the price for Latvia ($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 (+7.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform