Sri Lanka: Lip Make-Up Preparations Market 2024

Lip Make-Up Preparations Market Size in Sri Lanka

For the third consecutive year, the Sri Lankan lip make-up preparations market recorded decline in sales value, which decreased by -54.7% to $X in 2022. Overall, consumption saw a deep downturn. As a result, consumption reached the peak level of $X. From 2020 to 2022, the growth of the market remained at a lower figure.

Lip Make-Up Preparations Exports

Exports from Sri Lanka

In 2022, exports of lip make-up preparations from Sri Lanka contracted notably to X tons, which is down by -80.1% compared with 2021. Overall, exports recorded a abrupt descent. The most prominent rate of growth was recorded in 2021 when exports increased by 186%. As a result, the exports attained the peak of X tons, and then fell markedly in the following year.

In value terms, lip make-up preparations exports reduced sharply to $X in 2022. In general, exports recorded a deep reduction. The growth pace was the most rapid in 2015 with an increase of 181%. Over the period under review, the exports attained the peak figure at $X in 2021, and then shrank dramatically in the following year.

Exports by Country

New Zealand (X kg), Australia (X kg) and Fiji (X kg) were the main destinations of lip make-up preparations exports from Sri Lanka, with a combined 64% share of total exports. Pakistan, Saudi Arabia, Germany, Singapore, the UK and Cyprus lagged somewhat behind, together comprising a further 31%.

From 2012 to 2022, the biggest increases were recorded for Pakistan (with a CAGR of +181.1%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Singapore ($X), Australia ($X) and Pakistan ($X) were the largest markets for lip make-up preparations exported from Sri Lanka worldwide, together comprising 67% of total exports.

In terms of the main countries of destination, Singapore, with a CAGR of +112.9%, 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

In 2022, the average lip make-up preparations export price amounted to $X per ton, jumping by 25% against the previous year. Overall, the export price, however, saw a perceptible curtailment. The most prominent rate of growth was recorded in 2015 when the average export price increased by 27%. The export price peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Singapore ($X per ton), while the average price for exports to the UK ($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 (+52.5%), while the prices for the other major destinations experienced more modest paces of growth.

Lip Make-Up Preparations Imports

Imports into Sri Lanka

In 2022, imports of lip make-up preparations into Sri Lanka reduced dramatically to X tons, dropping by -71.6% on the year before. In general, imports continue to indicate a abrupt decrease. The growth pace was the most rapid in 2019 with an increase of 170% against the previous year. As a result, imports attained the peak of X tons. From 2020 to 2022, the growth of imports failed to regain momentum.

In value terms, lip make-up preparations imports contracted significantly to $X in 2022. Overall, imports showed a abrupt descent. The pace of growth appeared the most rapid in 2019 when imports increased by 97%. As a result, imports attained the peak of $X. From 2020 to 2022, the growth of imports remained at a lower figure.

Imports by Country

India (X kg), China (X kg) and France (X kg) were the main suppliers of lip make-up preparations imports to Sri Lanka, together comprising 51% of total imports. The UK, the United States, Turkey, the United Arab Emirates, Vietnam, Russia, Taiwan (Chinese) and Hong Kong SAR lagged somewhat behind, together comprising a further 43%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Vietnam (with a CAGR of +63.0%), while imports for the other leaders experienced more modest paces of growth.

In value terms, India ($X), France ($X) and the UK ($X) constituted the largest lip make-up preparations suppliers to Sri Lanka, with a combined 61% share of total imports. The United States, China, Vietnam, the United Arab Emirates, Turkey, Russia, Hong Kong SAR and Taiwan (Chinese) lagged somewhat behind, together comprising a further 33%.

Hong Kong SAR, with a CAGR of +91.0%, 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 lip make-up preparations import price stood at $X per ton in 2022, rising by 35% against the previous year. Over the last decade, it increased at an average annual rate of +2.0%. The growth pace was the most rapid in 2018 when the average import price increased by 36%. As a result, import price reached the peak level of $X per ton. From 2019 to 2022, the average 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 India ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Hong Kong SAR (+19.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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