Philippines: Market for Hair Lotion and Preparation 2024

Market Size for Hair Lotion and Preparation in the Philippines

The Philippine hair lotion and preparation market soared to $X in 2021, surging by 16% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption posted a prominent increase. Hair lotion and preparation consumption peaked at $X in 2019; however, from 2020 to 2021, consumption stood at a somewhat lower figure.

Exports of Hair Lotion and Preparation

Exports from the Philippines

After three years of growth, shipments abroad of hair lotion and preparation decreased by -23.9% to X tons in 2021. In general, exports continue to indicate a deep downturn. The pace of growth was the most pronounced in 2018 when exports increased by 125%. The exports peaked at X tons in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

In value terms, hair lotion and preparation exports reduced to $X in 2021. Overall, exports saw a pronounced slump. The growth pace was the most rapid in 2018 when exports increased by 115%. Over the period under review, the exports reached the peak figure at $X in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

Exports by Country

The United Arab Emirates (X tons) was the main destination for hair lotion and preparation exports from the Philippines, accounting for a 46% share of total exports. Moreover, hair lotion and preparation exports to the United Arab Emirates exceeded the volume sent to the second major destination, Taiwan (Chinese) (X tons), fourfold. The third position in this ranking was held by Singapore (X tons), with an 8.8% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to the United Arab Emirates totaled -12.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Taiwan (Chinese) (+17.4% per year) and Singapore (-4.4% per year).

In value terms, the United Arab Emirates ($X) remains the key foreign market for hair lotion and preparation exports from the Philippines, comprising 42% of total exports. The second position in the ranking was taken by Singapore ($X), with an 8.4% share of total exports. It was followed by Hong Kong SAR, with an 8.1% share.

From 2012 to 2021, the average annual growth rate of value to the United Arab Emirates amounted to -11.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Singapore (+5.6% per year) and Hong Kong SAR (+39.4% per year).

Export Prices by Country

In 2021, the average hair lotion and preparation export price amounted to $X per ton, growing by 13% against the previous year. Over the period under review, export price indicated a pronounced increase from 2012 to 2021: its price increased at an average annual rate of +3.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, hair lotion and preparation export price increased by +14.6% against 2019 indices. The most prominent rate of growth was recorded in 2017 an increase of 47% against the previous year. As a result, the export price attained the peak level of $X per ton; afterwards, it flattened through to 2021.

There were significant differences in the average prices for the major foreign markets. In 2021, amid the top suppliers, the country with the highest price was Hong Kong SAR ($X per ton), while the average price for exports to the United States ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Qatar (+15.9%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Hair Lotion and Preparation

Imports into the Philippines

In 2021, imports of hair lotion and preparation into the Philippines skyrocketed to X tons, jumping by 16% on the year before. Over the period under review, imports saw a resilient increase. The most prominent rate of growth was recorded in 2014 when imports increased by 27% against the previous year. Over the period under review, imports hit record highs at X tons in 2017; however, from 2018 to 2021, imports failed to regain momentum.

In value terms, hair lotion and preparation imports expanded rapidly to $X in 2021. Overall, imports saw a remarkable increase. The most prominent rate of growth was recorded in 2014 when imports increased by 46% against the previous year. Imports peaked at $X in 2019; however, from 2020 to 2021, imports stood at a somewhat lower figure.

Imports by Country

China (X tons), Thailand (X tons) and Indonesia (X tons) were the main suppliers of hair lotion and preparation imports to the Philippines, together comprising 90% of total imports. These countries were followed by the United States, Italy and Hong Kong SAR, which together accounted for a further 5.8%.

From 2012 to 2021, the biggest increases were recorded for Italy (with a CAGR of +26.5%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Thailand ($X) constituted the largest supplier of hair lotion and preparation to the Philippines, comprising 55% of total imports. The second position in the ranking was held by China ($X), with a 23% share of total imports. It was followed by Indonesia, with a 9.3% share.

From 2012 to 2021, the average annual growth rate of value from Thailand amounted to +20.0%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+7.2% per year) and Indonesia (-10.0% per year).

Import Prices by Country

In 2021, the average hair lotion and preparation import price amounted to $X per ton, dropping by -2.9% against the previous year. In general, the import price recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2019 when the average import price increased by 15%. The import price peaked at $X per ton in 2014; however, from 2015 to 2021, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Thailand ($X per ton), while the price for Hong Kong SAR ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Italy (+10.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform