Lithuania: Cosmetics Market 2024

Cosmetics Market Size in Lithuania

The Lithuanian cosmetics market shrank to $X in 2022, which is down by X% against the previous year. The market value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, the market hit record highs at $X in 2021, and then declined in the following year.

Cosmetics Production in Lithuania

In value terms, cosmetics production soared to $X in 2022 estimated in export price. In general, production, however, continues to indicate a abrupt shrinkage. The most prominent rate of growth was recorded in 2020 when the production volume increased by X% against the previous year. Cosmetics production peaked at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

Cosmetics Exports

Exports from Lithuania

In 2022, cosmetics exports from Lithuania reached X tons, growing by X% on the year before. Overall, exports recorded a buoyant expansion. The pace of growth was the most pronounced in 2017 with an increase of X% against the previous year. 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, cosmetics exports contracted to $X in 2022. Over the period under review, exports saw a remarkable increase. The most prominent rate of growth was recorded in 2017 with an increase of X%. Over the period under review, the exports attained the peak figure at $X in 2021, and then reduced in the following year.

Exports by Country

Russia (X tons) was the main destination for cosmetics exports from Lithuania, with a X% share of total exports. Moreover, cosmetics exports to Russia exceeded the volume sent to the second major destination, Latvia (X tons), sevenfold. Kazakhstan (X tons) ranked third in terms of total exports with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Russia stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Latvia (X% per year) and Kazakhstan (X% per year).

In value terms, Russia ($X) remains the key foreign market for cosmetics exports from Lithuania, comprising X% of total exports. The second position in the ranking was taken by Latvia ($X), with a X% share of total exports. It was followed by Kazakhstan, with a X% share.

From 2012 to 2022, the average annual growth rate of value to Russia amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Latvia (X% per year) and Kazakhstan (X% per year).

Export Prices by Country

The average cosmetics export price stood at $X per ton in 2022, falling by X% against the previous year. Over the period under review, the export price saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 an increase of X%. The export price peaked at $X per ton in 2021, and then reduced sharply in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Germany ($X per ton), while the average price for exports to Uzbekistan ($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 Germany (X%), while the prices for the other major destinations experienced more modest paces of growth.

Cosmetics Imports

Imports into Lithuania

In 2022, purchases abroad of cosmetics increased by X% to X tons, rising for the second year in a row after three years of decline. Overall, total imports indicated prominent growth from 2012 to 2022: its volume increased at an average annual rate of X% 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 X% against 2020 indices. The pace of growth appeared the most rapid in 2013 with an increase of X% against the previous year. Imports peaked at X tons in 2017; however, from 2018 to 2022, imports remained at a lower figure.

In value terms, cosmetics imports declined to $X in 2022. In general, imports posted resilient growth. The pace of growth was the most pronounced in 2013 when imports increased by X%. Over the period under review, imports reached the peak figure at $X in 2021, and then reduced in the following year.

Imports by Country

France (X tons), Poland (X tons) and Italy (X tons) were the main suppliers of cosmetics imports to Lithuania, with a combined X% share of total imports. Germany, Spain, Latvia, Estonia, Russia and the UK lagged somewhat behind, together comprising a further X%.

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

In value terms, the largest cosmetics suppliers to Lithuania were France ($X), Poland ($X) and Italy ($X), with a combined X% share of total imports. Germany, Spain, Latvia, Estonia, the UK and Russia lagged somewhat behind, together accounting for a further X%.

Among the main suppliers, Spain, with a CAGR of X%, 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 2022, the average cosmetics import price amounted to $X per ton, declining by X% against the previous year. Over the period under review, import price indicated resilient growth from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2013 an increase of X% against the previous year. Over the period under review, average import prices attained the peak figure at $X per ton in 2021, and then fell in the following year.

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 Latvia ($X per ton), while the price for Russia ($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 (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform