Philippines: Market for Shampoos, Hair Lacquers And Other Preparations 2024

Market Size for Shampoos, Hair Lacquers And Other Preparations in the Philippines

The Philippine market for shampoos, hair lacquers and other preparations rose modestly to $X in 2022, picking up by 1.8% 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). In general, consumption recorded a strong increase. Over the period under review, the market attained the maximum level in 2022 and is likely to continue growth in the immediate term.

Exports of Shampoos, Hair Lacquers And Other Preparations

Exports from the Philippines

In 2022, exports of shampoos, hair lacquers and other preparations from the Philippines fell to X tons, which is down by -13.1% compared with the year before. Over the period under review, exports recorded a deep downturn. The pace of growth was the most pronounced in 2015 with an increase of 1,403%. As a result, the exports reached the peak of X tons. From 2016 to 2022, the growth of the exports of failed to regain momentum.

In value terms, exports of shampoos, hair lacquers and other preparations dropped notably to $X in 2022. In general, exports recorded a deep downturn. The pace of growth was the most pronounced in 2015 with an increase of 781%. As a result, the exports attained the peak of $X. From 2016 to 2022, the growth of the exports of failed to regain momentum.

Exports by Country

Qatar (X tons), the United Arab Emirates (X tons) and the United States (X tons) were the main destinations of exports of shampoos, hair lacquers and other preparations from the Philippines, together comprising 59% of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Qatar (with a CAGR of +118.1%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for shampoo, hair lacquer and other preparations exported from the Philippines were Qatar ($X), the United Arab Emirates ($X) and the United States ($X), with a combined 50% share of total exports.

Among the main countries of destination, Qatar, with a CAGR of +97.8%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average export price for shampoos, hair lacquers and other preparations stood at $X per ton in 2022, with a decrease of -7.2% against the previous year. In general, the export price, however, continues to indicate a noticeable increase. The most prominent rate of growth was recorded in 2016 when the average export price increased by 189%. The export price peaked at $X per ton in 2021, and then reduced in the following year.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Singapore ($X per ton), while the average price for exports to Kuwait ($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 Singapore (+21.1%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Shampoos, Hair Lacquers And Other Preparations

Imports into the Philippines

In 2022, approx. X tons of shampoos, hair lacquers and other preparations were imported into the Philippines; flattening at the previous year. Overall, imports saw a buoyant increase. The most prominent rate of growth was recorded in 2014 with an increase of 97% against the previous year. Over the period under review, imports of attained the maximum at X tons in 2017; however, from 2018 to 2022, imports failed to regain momentum.

In value terms, imports of shampoos, hair lacquers and other preparations expanded slightly to $X in 2022. In general, imports showed resilient growth. The pace of growth appeared the most rapid in 2014 when imports increased by 119%. Over the period under review, imports of hit record highs in 2022 and are expected to retain growth in the immediate term.

Imports by Country

In 2022, Thailand (X tons) constituted the largest supplier of shampoo, hair lacquer and other preparations to the Philippines, with a 64% share of total imports. Moreover, imports of shampoos, hair lacquers and other preparations from Thailand exceeded the figures recorded by the second-largest supplier, China (X tons), fourfold. Indonesia (X tons) ranked third in terms of total imports with an 11% share.

From 2012 to 2022, the average annual growth rate of volume from Thailand amounted to +11.8%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+13.3% per year) and Indonesia (+10.8% per year).

In value terms, Thailand ($X) constituted the largest supplier of shampoos, hair lacquers and other preparations to the Philippines, comprising 71% of total imports. The second position in the ranking was taken by Indonesia ($X), with a 12% share of total imports. It was followed by China, with an 8% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Thailand stood at +18.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Indonesia (+11.0% per year) and China (+7.4% per year).

Import Prices by Country

The average import price for shampoos, hair lacquers and other preparations stood at $X per ton in 2022, flattening at the previous year. Over the period under review, import price indicated a notable increase from 2012 to 2022: its price increased at an average annual rate of +3.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, import price for shampoos, hair lacquers and other preparations increased by +55.4% against 2017 indices. The pace of growth was the most pronounced in 2018 an increase of 27% against the previous year. The import price peaked in 2022 and is expected to retain growth in years to come.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Malaysia (+7.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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