Serbia: Hair Spray Market 2024

Hair Spray Market Size in Serbia

The Serbian hair spray market shrank dramatically to $X in 2022, waning by -29.4% 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, the total consumption indicated noticeable growth from 2012 to 2022: its value increased at an average annual rate of +2.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +30.8% against 2020 indices. Over the period under review, the market hit record highs at $X in 2017; however, from 2018 to 2022, consumption remained at a lower figure.

Hair Spray Exports

Exports from Serbia

In 2022, approx. X tons of hair sprays were exported from Serbia; which is down by -31.7% compared with 2021 figures. In general, exports, however, recorded mild growth. The pace of growth appeared the most rapid in 2015 with an increase of 472% against the previous year. As a result, the exports attained the peak of X tons. From 2016 to 2022, the growth of the exports failed to regain momentum.

In value terms, hair spray exports reduced sharply to $X in 2022. Overall, exports showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2015 when exports increased by 198%. As a result, the exports attained the peak of $X. From 2016 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

North Macedonia (X tons), Bosnia and Herzegovina (X tons) and Montenegro (X tons) were the main destinations of hair spray exports from Serbia, with a combined 72% share of total exports. Albania, the UK, the Netherlands, the United States and Croatia lagged somewhat behind, together accounting for a further 27%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by the UK (with a CAGR of +394.8%), while the other leaders experienced more modest paces of growth.

In value terms, North Macedonia ($X), Montenegro ($X) and Bosnia and Herzegovina ($X) were the largest markets for hair spray exported from Serbia worldwide, with a combined 66% share of total exports. Albania, the UK, the Netherlands, the United States and Croatia lagged somewhat behind, together comprising a further 34%.

Among the main countries of destination, the UK, with a CAGR of +805.0%, saw 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 hair spray export price stood at $X per ton in 2022, growing by 24% against the previous year. Over the period under review, the export price, however, continues to indicate a slight decline. Over the period under review, the average export prices hit record highs at $X per ton in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the UK ($X per ton), while the average price for exports to the United States ($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 UK (+82.9%), while the prices for the other major destinations experienced more modest paces of growth.

Hair Spray Imports

Imports into Serbia

In 2022, hair spray imports into Serbia dropped markedly to X tons, reducing by -32.2% compared with the previous year's figure. Over the period under review, imports, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when imports increased by 93%. Imports peaked at X tons in 2017; however, from 2018 to 2022, imports stood at a somewhat lower figure.

In value terms, hair spray imports reduced remarkably to $X in 2022. Overall, total imports indicated temperate growth from 2012 to 2022: its value increased at an average annual rate of +2.2% 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 +27.3% against 2020 indices. The growth pace was the most rapid in 2021 when imports increased by 79% against the previous year. Over the period under review, imports attained the maximum at $X in 2017; however, from 2018 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, Italy (X tons) constituted the largest supplier of hair spray to Serbia, accounting for a 59% share of total imports. Moreover, hair spray imports from Italy exceeded the figures recorded by the second-largest supplier, Germany (X tons), twofold.

From 2012 to 2022, the average annual rate of growth in terms of volume from Italy was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (-1.7% per year) and France (+23.5% per year).

In value terms, Italy ($X), Germany ($X) and France ($X) constituted the largest hair spray suppliers to Serbia, together comprising 94% of total imports.

France, with a CAGR of +15.8%, saw the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

In 2022, the average hair spray import price amounted to $X per ton, surging by 4.6% against the previous year. Over the last decade, it increased at an average annual rate of +1.3%. The pace of growth appeared the most rapid in 2018 when the average import price increased by 13%. Over the period under review, average import prices reached the maximum at $X per ton in 2020; however, from 2021 to 2022, import prices failed to regain momentum.

Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Germany ($X per ton), while the price for Italy ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Italy (+7.3%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform