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

Market Size for Shampoos, Hair Lacquers And Other Preparations in Serbia

In 2022, after two years of growth, there was decline in the Serbian market for shampoos, hair lacquers and other preparations, when its value decreased by -2.9% to $X. Overall, consumption saw a relatively flat trend pattern. Over the period under review, the market reached the peak level at $X in 2021, and then fell slightly in the following year.

Production of Shampoos, Hair Lacquers And Other Preparations in Serbia

In value terms, production of shampoos, hair lacquers and other preparations surged to $X in 2022 estimated in export price. In general, production, however, showed a perceptible decrease. Over the period under review, production of reached the maximum level at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

Exports of Shampoos, Hair Lacquers And Other Preparations

Exports from Serbia

In 2022, after two years of decline, there was significant growth in shipments abroad of shampoos, hair lacquers and other preparations, when their volume increased by 6.7% to X tons. In general, exports, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 when exports increased by 24% against the previous year. As a result, the exports attained the peak of X tons. From 2016 to 2022, the growth of the exports of remained at a lower figure.

In value terms, exports of shampoos, hair lacquers and other preparations skyrocketed to $X in 2022. Over the period under review, total exports indicated a strong increase from 2012 to 2022: its value increased at an average annual rate of +6.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +67.6% against 2020 indices. The most prominent rate of growth was recorded in 2021 when exports increased by 43%. Over the period under review, the exports of attained the peak figure in 2022 and are likely to see gradual growth in the near future.

Exports by Country

Bosnia and Herzegovina (X tons), Montenegro (X tons) and North Macedonia (X tons) were the main destinations of exports of shampoos, hair lacquers and other preparations from Serbia, with a combined 71% share of total exports. Russia, Romania, Croatia, Lithuania, the Netherlands, Bulgaria and Albania lagged somewhat behind, together accounting for a further 22%.

From 2012 to 2022, the biggest increases were recorded for the Netherlands (with a CAGR of +137.5%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for shampoo, hair lacquer and other preparations exported from Serbia were Bosnia and Herzegovina ($X), Montenegro ($X) and North Macedonia ($X), with a combined 54% share of total exports. The Netherlands, Russia, Romania, Croatia, Lithuania, Albania and Bulgaria lagged somewhat behind, together comprising a further 27%.

In terms of the main countries of destination, the Netherlands, with a CAGR of +143.4%, 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

The average export price for shampoos, hair lacquers and other preparations stood at $X per ton in 2022, growing by 9.9% against the previous year. In general, export price indicated a buoyant increase from 2012 to 2022: its price increased at an average annual rate of +6.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, export price for shampoos, hair lacquers and other preparations increased by +71.9% against 2020 indices. The pace of growth appeared the most rapid in 2021 an increase of 56%. The export price peaked in 2022 and is likely to see steady growth in the near future.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the Netherlands ($X per ton), while the average price for exports to Montenegro ($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 North Macedonia (+8.1%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Shampoos, Hair Lacquers And Other Preparations

Imports into Serbia

In 2022, supplies from abroad of shampoos, hair lacquers and other preparations decreased by -4.8% to X tons for the first time since 2019, thus ending a two-year rising trend. The total import volume increased at an average annual rate of +3.5% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2021 with an increase of 8.4% against the previous year. As a result, imports reached the peak of X tons, and then declined in the following year.

In value terms, imports of shampoos, hair lacquers and other preparations fell modestly to $X in 2022. The total import value increased at an average annual rate of +2.8% 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 2021 when imports increased by 13% against the previous year. As a result, imports reached the peak of $X, and then fell in the following year.

Imports by Country

Germany (X tons), Italy (X tons) and Slovenia (X tons) were the main suppliers of imports of shampoos, hair lacquers and other preparations to Serbia, with a combined 60% share of total imports. France, Romania, Poland and Spain lagged somewhat behind, together accounting for a further 24%.

From 2012 to 2022, the biggest increases were recorded for Spain (with a CAGR of +11.0%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Italy ($X), Germany ($X) and France ($X) constituted the largest shampoo, hair lacquer and other preparations suppliers to Serbia, together comprising 51% of total imports. Slovenia, Romania, Poland and Spain lagged somewhat behind, together accounting for a further 27%.

Spain, with a CAGR of +9.8%, saw the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average import price for shampoos, hair lacquers and other preparations stood at $X per ton in 2022, picking up by 2.8% against the previous year. Overall, the import price, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 an increase of 8.1% against the previous year. As a result, import price attained the peak level of $X per ton. From 2014 to 2022, the average 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 Spain ($X per ton), while the price for Slovenia ($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 (+1.9%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform