Sri Lanka: Market for Hair Lotion and Preparation 2024

Market Size for Hair Lotion and Preparation in Sri Lanka

In 2021, the Sri Lankan hair lotion and preparation market was finally on the rise to reach $X after three years of decline. Over the period under review, the total consumption indicated noticeable growth from 2012 to 2021: its value increased at an average annual rate of +3.2% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -13.7% against 2017 indices. Hair lotion and preparation consumption peaked at $X in 2017; however, from 2018 to 2021, consumption remained at a lower figure.

Production of Hair Lotion and Preparation in Sri Lanka

In value terms, hair lotion and preparation production expanded rapidly to $X in 2021 estimated in export price. Over the period under review, the total production indicated a moderate increase from 2012 to 2021: its value increased at an average annual rate of +2.8% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -14.3% against 2018 indices. The most prominent rate of growth was recorded in 2015 when the production volume increased by 34% against the previous year. Hair lotion and preparation production peaked at $X in 2018; however, from 2019 to 2021, production remained at a lower figure.

Exports of Hair Lotion and Preparation

Exports from Sri Lanka

In 2021, overseas shipments of hair lotion and preparation decreased by -42.9% to X tons, falling for the second year in a row after three years of growth. Overall, exports, however, enjoyed resilient growth. The pace of growth appeared the most rapid in 2013 with an increase of 139%. The exports peaked at X tons in 2019; however, from 2020 to 2021, the exports remained at a lower figure.

In value terms, hair lotion and preparation exports reduced rapidly to $X in 2021. Over the period under review, exports, however, showed a strong increase. The pace of growth was the most pronounced in 2013 when exports increased by 100% against the previous year. Over the period under review, the exports hit record highs at $X in 2019; however, from 2020 to 2021, the exports remained at a lower figure.

Exports by Country

Pakistan (X tons) was the main destination for hair lotion and preparation exports from Sri Lanka, accounting for a 75% share of total exports. Moreover, hair lotion and preparation exports to Pakistan exceeded the volume sent to the second major destination, Maldives (X tons), eightfold. The third position in this ranking was taken by India (X tons), with a 4.8% share.

From 2012 to 2021, the average annual growth rate of volume to Pakistan amounted to +17.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Maldives (+5.4% per year) and India (+12.7% per year).

In value terms, Pakistan ($X) emerged as the key foreign market for hair lotion and preparation exports from Sri Lanka, comprising 73% of total exports. The second position in the ranking was held by Maldives ($X), with an 11% share of total exports. It was followed by India, with a 6.1% share.

From 2012 to 2021, the average annual growth rate of value to Pakistan totaled +17.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Maldives (+3.8% per year) and India (+9.9% per year).

Export Prices by Country

In 2021, the average hair lotion and preparation export price amounted to $X per ton, with an increase of 31% against the previous year. In general, the export price, however, continues to indicate a mild contraction. The pace of growth was the most pronounced in 2018 when the average export price increased by 44% against the previous year. Over the period under review, the average export prices hit record highs at $X per ton in 2012; however, from 2013 to 2021, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was India ($X per ton), while the average price for exports to the United Arab Emirates ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Pakistan (-0.1%), while the prices for the other major destinations experienced a decline.

Imports of Hair Lotion and Preparation

Imports into Sri Lanka

After two years of decline, purchases abroad of hair lotion and preparation increased by 120% to X tons in 2021. Over the period under review, imports recorded a relatively flat trend pattern. Over the period under review, imports attained the peak figure at X tons in 2016; however, from 2017 to 2021, imports failed to regain momentum.

In value terms, hair lotion and preparation imports surged to $X in 2021. In general, total imports indicated prominent growth from 2012 to 2021: its value increased at an average annual rate of +7.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

Italy (X tons), India (X tons) and the Netherlands (X tons) were the main suppliers of hair lotion and preparation imports to Sri Lanka, with a combined 53% share of total imports.

From 2012 to 2021, the biggest increases were recorded for Italy (with a CAGR of +49.1%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest hair lotion and preparation suppliers to Sri Lanka were India ($X), Italy ($X) and the Netherlands ($X), together accounting for 55% of total imports.

Italy, with a CAGR of +49.9%, recorded the highest rates of growth with regard to 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 hair lotion and preparation import price stood at $X per ton in 2021, dropping by -4.6% against the previous year. Overall, import price indicated prominent growth from 2012 to 2021: its price increased at an average annual rate of +6.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, hair lotion and preparation import price increased by +76.2% against 2014 indices. The pace of growth appeared the most rapid in 2017 when the average import price increased by 24%. Over the period under review, average import prices hit record highs at $X per ton in 2020, and then fell modestly in the following year.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was the United States ($X per ton), while the price for Italy ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United States (+25.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform