Sri Lanka: Market for Preparations For Permanent Waving Or Straightening Of Hair 2024

Market Size for Preparations For Permanent Waving Or Straightening Of Hair in Sri Lanka

In 2021, after four years of decline, there was growth in the Sri Lankan market for preparations for permanent waving or straightening of hair, when its value increased by 4.3% to $X. Over the period under review, consumption, however, saw a relatively flat trend pattern. As a result, consumption reached the peak level of $X. From 2017 to 2021, the growth of the market remained at a somewhat lower figure.

Production of Preparations For Permanent Waving Or Straightening Of Hair in Sri Lanka

In value terms, hair waving or straightening preparations production rose to $X in 2021 estimated in export price. Over the period under review, production, however, continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2016 with an increase of 61% against the previous year. As a result, production attained the peak level of $X. From 2017 to 2021, production growth remained at a lower figure.

Exports of Preparations For Permanent Waving Or Straightening Of Hair

Exports from Sri Lanka

In 2021, the amount of preparations for permanent waving or straightening of hair exported from Sri Lanka contracted notably to X tons, falling by -66.7% against the previous year. In general, exports recorded a abrupt slump. The most prominent rate of growth was recorded in 2017 with an increase of 444% against the previous year. As a result, the exports attained the peak of X tons. From 2018 to 2021, the growth of the exports failed to regain momentum.

In value terms, hair waving or straightening preparations exports contracted significantly to $X in 2021. Overall, exports saw a pronounced downturn. The pace of growth appeared the most rapid in 2013 with an increase of 344% against the previous year. The exports peaked at $X in 2017; however, from 2018 to 2021, the exports remained at a lower figure.

Exports by Country

The United Arab Emirates (X tons), Iran (X tons) and Pakistan (X kg) were the main destinations of hair waving or straightening preparations exports from Sri Lanka, with a combined 81% share of total exports. India, Belize, Samoa and Bangladesh lagged somewhat behind, together accounting for a further 15%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Belize (with a CAGR of +39.0%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for hair waving or straightening preparations exported from Sri Lanka were the United Arab Emirates ($X), Iran ($X) and Pakistan ($X), together accounting for 67% of total exports. India, Belize, Bangladesh and Samoa lagged somewhat behind, together comprising a further 27%.

Belize, with a CAGR of +82.3%, recorded the highest growth rate of the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the average export price for preparations for permanent waving or straightening of hair amounted to $X per ton, jumping by 33% against the previous year. In general, export price indicated tangible growth from 2012 to 2021: its price increased at an average annual rate of +4.2% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, hair waving or straightening preparations export price increased by +45.2% against 2019 indices. The export price peaked at $X per ton in 2016; however, from 2017 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices for the major export markets. In 2021, the country with the highest price was Belize ($X per ton), while the average price for exports to Iran ($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 Belize (+30.6%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Preparations For Permanent Waving Or Straightening Of Hair

Imports into Sri Lanka

In 2021, supplies from abroad of preparations for permanent waving or straightening of hair decreased by -53.4% to X tons for the first time since 2018, thus ending a two-year rising trend. In general, imports, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2013 with an increase of 150% against the previous year. Over the period under review, imports reached the maximum at X tons in 2015; however, from 2016 to 2021, imports stood at a somewhat lower figure.

In value terms, hair waving or straightening preparations imports contracted significantly to $X in 2021. Over the period under review, imports, however, continue to indicate strong growth. The pace of growth appeared the most rapid in 2013 when imports increased by 160%. Imports peaked at $X in 2020, and then fell rapidly in the following year.

Imports by Country

In 2021, the Netherlands (X tons) constituted the largest supplier of hair waving or straightening preparations to Sri Lanka, accounting for a 66% share of total imports. Moreover, hair waving or straightening preparations imports from the Netherlands exceeded the figures recorded by the second-largest supplier, Malaysia (X kg), sevenfold. Australia (X kg) ranked third in terms of total imports with an 8.4% share.

From 2012 to 2021, the average annual growth rate of volume from the Netherlands stood at +17.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Malaysia (-8.0% per year) and Australia (+6.7% per year).

In value terms, the Netherlands ($X) constituted the largest supplier of preparations for permanent waving or straightening of hair to Sri Lanka, comprising 74% of total imports. The second position in the ranking was held by Poland ($X), with a 7.6% share of total imports. It was followed by Malaysia, with a 5.4% share.

From 2012 to 2021, the average annual rate of growth in terms of value from the Netherlands stood at +18.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Poland (+53.1% per year) and Malaysia (-3.2% per year).

Import Prices by Country

In 2021, the average import price for preparations for permanent waving or straightening of hair amounted to $X per ton, with an increase of 39% against the previous year. Overall, the import price recorded a strong increase. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was Poland ($X per ton), while the price for Australia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+19.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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