Philippines: Market for Manicure Or Pedicure Preparations 2024

Market Size for Manicure Or Pedicure Preparations in the Philippines

In 2022, the Philippine manicure or pedicure preparations market was finally on the rise to reach $X for the first time since 2019, thus ending a two-year declining trend. The market value increased at an average annual rate of +3.6% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Manicure or pedicure preparations consumption peaked at $X in 2019; however, from 2020 to 2022, consumption stood at a somewhat lower figure.

Production of Manicure Or Pedicure Preparations in the Philippines

In value terms, manicure or pedicure preparations production fell to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +4.0% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2018 when the production volume increased by 38%. Manicure or pedicure preparations production peaked at $X in 2019; however, from 2020 to 2022, production stood at a somewhat lower figure.

Exports of Manicure Or Pedicure Preparations

Exports from the Philippines

In 2022, exports of manicure or pedicure preparations from the Philippines reduced to X tons, with a decrease of -13.6% on 2021 figures. Overall, exports, however, saw a remarkable increase. The pace of growth appeared the most rapid in 2019 with an increase of 1,127%. The exports peaked at X tons in 2021, and then declined in the following year.

In value terms, manicure or pedicure preparations exports declined significantly to $X in 2022. In general, exports, however, showed a resilient expansion. The pace of growth was the most pronounced in 2021 with an increase of 678%. As a result, the exports reached the peak of $X, and then contracted sharply in the following year.

Exports by Country

Saudi Arabia (X tons) was the main destination for manicure or pedicure preparations exports from the Philippines, accounting for a 66% share of total exports. Moreover, manicure or pedicure preparations exports to Saudi Arabia exceeded the volume sent to the second major destination, the United Arab Emirates (X tons), fourfold. The third position in this ranking was held by Qatar (X tons), with a 7.2% share.

From 2012 to 2022, the average annual growth rate of volume to Saudi Arabia stood at +24.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United Arab Emirates (+1.5% per year) and Qatar (-23.7% per year).

In value terms, Saudi Arabia ($X) remains the key foreign market for manicure or pedicure preparations exports from the Philippines, comprising 66% of total exports. The second position in the ranking was taken by the United Arab Emirates ($X), with a 23% share of total exports. It was followed by Australia, with a 3.2% share.

From 2012 to 2022, the average annual growth rate of value to Saudi Arabia totaled +18.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United Arab Emirates (+5.4% per year) and Australia (+1.4% per year).

Export Prices by Country

The average manicure or pedicure preparations export price stood at $X per ton in 2022, with a decrease of -15.8% against the previous year. Overall, the export price continues to indicate a noticeable descent. The most prominent rate of growth was recorded in 2018 an increase of 226%. As a result, the export price attained the peak level of $X per ton. From 2019 to 2022, the average export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United Arab Emirates ($X per ton), while the average price for exports to Qatar ($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 United Arab Emirates (+3.8%), while the prices for the other major destinations experienced a decline.

Imports of Manicure Or Pedicure Preparations

Imports into the Philippines

After two years of decline, purchases abroad of manicure or pedicure preparations increased by 23% to X tons in 2022. Overall, imports, however, saw a deep downturn. The most prominent rate of growth was recorded in 2018 when imports increased by 70% against the previous year. Over the period under review, imports attained the maximum at X tons in 2013; however, from 2014 to 2022, imports stood at a somewhat lower figure.

In value terms, manicure or pedicure preparations imports surged to $X in 2022. Over the period under review, imports, however, continue to indicate a perceptible shrinkage. The most prominent rate of growth was recorded in 2018 when imports increased by 71%. As a result, imports reached the peak of $X. From 2019 to 2022, the growth of imports failed to regain momentum.

Imports by Country

Luxembourg (X tons), China (X tons) and the UK (X tons) were the main suppliers of manicure or pedicure preparations imports to the Philippines, with a combined 88% 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 UK (with a CAGR of +64.2%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Luxembourg ($X) constituted the largest supplier of manicure or pedicure preparations to the Philippines, comprising 45% of total imports. The second position in the ranking was taken by Poland ($X), with a 14% share of total imports. It was followed by the UK, with a 13% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Luxembourg was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Poland (+42.2% per year) and the UK (+80.1% per year).

Import Prices by Country

The average manicure or pedicure preparations import price stood at $X per ton in 2022, rising by 32% against the previous year. Over the period under review, import price indicated a prominent increase from 2012 to 2022: its price increased at an average annual rate of +8.4% 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 2015 an increase of 45%. Over the period under review, average import prices attained the peak figure at $X per ton in 2018; however, from 2019 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 Poland ($X per ton), while the price for China ($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 (+18.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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