Serbia: Market for Manicure Or Pedicure Sets And Instruments 2024

Market Size for Manicure Or Pedicure Sets And Instruments in Serbia

The Serbian manicure or pedicure sets market soared to $X in 2022, growing by 19% 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, the total consumption indicated tangible growth from 2012 to 2022: its value increased at an average annual rate of +4.0% 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 +61.0% against 2017 indices. Over the period under review, the market reached the maximum level in 2022 and is likely to see steady growth in years to come.

Exports of Manicure Or Pedicure Sets And Instruments

Exports from Serbia

In 2022, approx. X units of manicure or pedicure sets and instruments were exported from Serbia; which is down by -9.3% against the year before. Over the period under review, exports, however, showed a remarkable increase. The pace of growth appeared the most rapid in 2021 with an increase of 96%. As a result, the exports attained the peak of X units, and then declined in the following year.

In value terms, manicure or pedicure sets exports reached $X in 2022. Overall, exports, however, enjoyed a significant increase. The pace of growth appeared the most rapid in 2016 with an increase of 174% against the previous year. Over the period under review, the exports reached the maximum in 2022 and are likely to continue growth in the near future.

Exports by Country

Bosnia and Herzegovina (X units), Bulgaria (X units) and Montenegro (X units) were the main destinations of manicure or pedicure sets exports from Serbia, together comprising 77% 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 Bulgaria (with a CAGR of +413.9%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for manicure or pedicure sets exported from Serbia were Bosnia and Herzegovina ($X), Bulgaria ($X) and Montenegro ($X), with a combined 64% share of total exports.

In terms of the main countries of destination, Bulgaria, with a CAGR of +420.7%, recorded the highest rates of growth with regard to 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

In 2022, the average manicure or pedicure sets export price amounted to $X per unit, rising by 16% against the previous year. In general, export price indicated a resilient expansion from 2012 to 2022: its price increased at an average annual rate of +5.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, manicure or pedicure sets export price increased by +50.9% against 2019 indices. The most prominent rate of growth was recorded in 2016 when the average export price increased by 74% against the previous year. Over the period under review, the average export prices reached the maximum in 2022 and is expected to retain growth in the near future.

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 Latvia ($X per unit), while the average price for exports to Croatia ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Montenegro (+5.0%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Manicure Or Pedicure Sets And Instruments

Imports into Serbia

In 2022, purchases abroad of manicure or pedicure sets and instruments increased by 18% to X units, rising for the second consecutive year after four years of decline. The total import volume increased at an average annual rate of +4.0% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2021 when imports increased by 34% against the previous year. Imports peaked in 2022 and are likely to see gradual growth in years to come.

In value terms, manicure or pedicure sets imports expanded sharply to $X in 2022. Over the period under review, total imports indicated strong growth from 2012 to 2022: its value increased at an average annual rate of +5.2% 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 +71.5% against 2017 indices. The growth pace was the most rapid in 2021 when imports increased by 27% against the previous year. Imports peaked in 2022 and are likely to see steady growth in the near future.

Imports by Country

In 2022, China (X units) constituted the largest supplier of manicure or pedicure sets to Serbia, accounting for a 78% share of total imports. Moreover, manicure or pedicure sets imports from China exceeded the figures recorded by the second-largest supplier, Germany (X units), sevenfold. The third position in this ranking was taken by South Korea (X units), with a 4.1% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China stood at +5.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (-2.9% per year) and South Korea (+5.7% per year).

In value terms, China ($X) constituted the largest supplier of manicure or pedicure sets and instruments to Serbia, comprising 61% of total imports. The second position in the ranking was held by Germany ($X), with an 18% share of total imports. It was followed by Pakistan, with a 6.9% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China amounted to +7.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (-1.5% per year) and Pakistan (+12.2% per year).

Import Prices by Country

In 2022, the average manicure or pedicure sets import price amounted to $X per unit, declining by -3.6% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.1%. The pace of growth appeared the most rapid in 2018 an increase of 34% against the previous year. Over the period under review, average import prices reached the peak figure at $X per unit in 2020; however, from 2021 to 2022, import prices remained at a lower figure.

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 Pakistan ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+2.2%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform