Philippines: Eye Make-Up Preparations Market 2024

Eye Make-Up Preparations Market Size in the Philippines

The Philippine eye make-up preparations market fell modestly to $X in 2022, waning by -2.4% against the previous year. Overall, consumption, however, saw a prominent expansion. Eye make-up preparations consumption peaked at $X in 2019; however, from 2020 to 2022, consumption failed to regain momentum.

Eye Make-Up Preparations Production in the Philippines

In value terms, eye make-up preparations production fell modestly to $X in 2022 estimated in export price. Over the period under review, production, however, saw a remarkable increase. The growth pace was the most rapid in 2018 with an increase of 80%. Over the period under review, production hit record highs at $X in 2019; however, from 2020 to 2022, production remained at a lower figure.

Eye Make-Up Preparations Exports

Exports from the Philippines

After two years of decline, overseas shipments of eye make-up preparations increased by 121% to X tons in 2022. In general, exports posted prominent growth. The growth pace was the most rapid in 2014 with an increase of 246%. The exports peaked at X tons in 2017; however, from 2018 to 2022, the exports remained at a lower figure.

In value terms, eye make-up preparations exports soared to $X in 2022. Over the period under review, exports recorded a significant increase. The pace of growth appeared the most rapid in 2016 when exports increased by 303%. Over the period under review, the exports attained the peak figure at $X in 2017; however, from 2018 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Japan (X tons), the United States (X tons) and Kuwait (X tons) were the main destinations of eye make-up preparations exports from the Philippines, together accounting for 88% of total exports.

From 2012 to 2022, the biggest increases were recorded for Kuwait (with a CAGR of +184.2%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Japan ($X) remains the key foreign market for eye make-up preparations exports from the Philippines, comprising 62% of total exports. The second position in the ranking was held by the United States ($X), with a 22% share of total exports. It was followed by France, with a 6.5% share.

From 2012 to 2022, the average annual growth rate of value to Japan totaled +125.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+67.1% per year) and France (+20.0% per year).

Export Prices by Country

The average eye make-up preparations export price stood at $X per ton in 2022, with a decrease of -38.4% against the previous year. Overall, the export price, however, enjoyed resilient growth. The pace of growth was the most pronounced in 2015 an increase of 120%. The export price peaked at $X per ton in 2021, and then contracted notably in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Singapore ($X per ton), while the average price for exports to Vietnam ($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 France (+41.1%), while the prices for the other major destinations experienced more modest paces of growth.

Eye Make-Up Preparations Imports

Imports into the Philippines

In 2022, supplies from abroad of eye make-up preparations was finally on the rise to reach X tons after three years of decline. In general, imports showed a buoyant increase. The pace of growth was the most pronounced in 2015 with an increase of 121%. Imports peaked at X tons in 2018; however, from 2019 to 2022, imports remained at a lower figure.

In value terms, eye make-up preparations imports surged to $X in 2022. Over the period under review, imports recorded a buoyant expansion. Imports peaked at $X in 2019; however, from 2020 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, China (X tons) constituted the largest supplier of eye make-up preparations to the Philippines, accounting for a 73% share of total imports. Moreover, eye make-up preparations imports from China exceeded the figures recorded by the second-largest supplier, South Korea (X tons), ninefold. The third position in this ranking was held by the United States (X tons), with a 4.3% share.

From 2012 to 2022, the average annual growth rate of volume from China stood at +22.7%. The remaining supplying countries recorded the following average annual rates of imports growth: South Korea (+49.5% per year) and the United States (+0.3% per year).

In value terms, China ($X) constituted the largest supplier of eye make-up preparations to the Philippines, comprising 63% of total imports. The second position in the ranking was taken by Japan ($X), with an 11% share of total imports. It was followed by the United States, with a 7% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China totaled +25.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (+91.8% per year) and the United States (-0.1% per year).

Import Prices by Country

The average eye make-up preparations import price stood at $X per ton in 2022, shrinking by -3.7% against the previous year. Overall, the import price showed a slight descent. The most prominent rate of growth was recorded in 2021 when the average import price increased by 38%. The import price peaked at $X per ton in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Japan (+10.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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