Vietnam: Market for Hair Lotion and Preparation 2024

Market Size for Hair Lotion and Preparation in Vietnam

In 2021, after four years of decline, there was significant growth in the Vietnamese hair lotion and preparation market, when its value increased by 13% to $X. In general, consumption saw a relatively flat trend pattern. Hair lotion and preparation consumption peaked at $X in 2016; however, from 2017 to 2021, consumption remained at a lower figure.

Production of Hair Lotion and Preparation in Vietnam

In value terms, hair lotion and preparation production stood at $X in 2021 estimated in export price. Overall, production, however, continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2014 with an increase of 50%. Hair lotion and preparation production peaked at $X in 2016; however, from 2017 to 2021, production stood at a somewhat lower figure.

Exports of Hair Lotion and Preparation

Exports from Vietnam

In 2021, exports of hair lotion and preparation from Vietnam fell modestly to X tons, reducing by -2.4% on the previous year's figure. The total export volume increased at an average annual rate of +1.6% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2013 with an increase of 42% against the previous year. As a result, the exports attained the peak of X tons. From 2014 to 2021, the growth of the exports remained at a lower figure.

In value terms, hair lotion and preparation exports fell to $X in 2021. Overall, total exports indicated buoyant growth from 2012 to 2021: its value increased at an average annual rate of +6.3% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports decreased by -10.4% against 2019 indices. The pace of growth was the most pronounced in 2013 when exports increased by 78%. The exports peaked at $X in 2019; however, from 2020 to 2021, the exports failed to regain momentum.

Exports by Country

Japan (X tons) was the main destination for hair lotion and preparation exports from Vietnam, with a 84% share of total exports. Moreover, hair lotion and preparation exports to Japan exceeded the volume sent to the second major destination, Thailand (X tons), more than tenfold. Taiwan (Chinese) (X tons) ranked third in terms of total exports with a 2.2% share.

From 2012 to 2021, the average annual growth rate of volume to Japan stood at +1.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Thailand (+48.4% per year) and Taiwan (Chinese) (-1.7% per year).

In value terms, Japan ($X) remains the key foreign market for hair lotion and preparation exports from Vietnam, comprising 85% of total exports. The second position in the ranking was taken by Thailand ($X), with a 4.1% share of total exports. It was followed by Taiwan (Chinese), with a 2.2% share.

From 2012 to 2021, the average annual growth rate of value to Japan totaled +7.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Thailand (+66.9% per year) and Taiwan (Chinese) (+0.6% per year).

Export Prices by Country

The average hair lotion and preparation export price stood at $X per ton in 2021, shrinking by -6.8% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +4.7%. The most prominent rate of growth was recorded in 2013 when the average export price increased by 26% against the previous year. The export price peaked at $X per ton in 2020, and then declined in the following year.

Average prices varied noticeably for the major foreign markets. In 2021, amid the top suppliers, the countries with the highest prices were Japan ($X per ton) and Taiwan (Chinese) ($X per ton), while the average price for exports to Thailand ($X per ton) and the United States ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Thailand (+12.4%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Hair Lotion and Preparation

Imports into Vietnam

In 2021, supplies from abroad of hair lotion and preparation increased by 23% to X tons, rising for the seventh consecutive year after two years of decline. Overall, imports posted buoyant growth. The most prominent rate of growth was recorded in 2020 when imports increased by 77% against the previous year. Over the period under review, imports attained the peak figure in 2021 and are likely to see steady growth in the immediate term.

In value terms, hair lotion and preparation imports skyrocketed to $X in 2021. In general, imports showed a strong expansion. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, Thailand (X tons) constituted the largest supplier of hair lotion and preparation to Vietnam, with a 30% share of total imports. Moreover, hair lotion and preparation imports from Thailand exceeded the figures recorded by the second-largest supplier, China (X tons), twofold. The third position in this ranking was taken by Japan (X tons), with an 11% share.

From 2012 to 2021, the average annual growth rate of volume from Thailand totaled +7.8%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+29.3% per year) and Japan (+20.2% per year).

In value terms, Thailand ($X) constituted the largest supplier of hair lotion and preparation to Vietnam, comprising 30% of total imports. The second position in the ranking was held by China ($X), with a 15% share of total imports. It was followed by Japan, with an 11% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Thailand amounted to +5.1%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+25.3% per year) and Japan (+15.8% per year).

Import Prices by Country

In 2021, the average hair lotion and preparation import price amounted to $X per ton, remaining constant against the previous year. Over the period under review, the import price, however, recorded a noticeable decline. The growth pace was the most rapid in 2013 when the average import price increased by 11% against the previous year. The import price peaked at $X per ton in 2019; however, from 2020 to 2021, import prices stood at a somewhat lower figure.

Average prices varied noticeably amongst the major supplying countries. In 2021, amid the top importers, the countries with the highest prices were Indonesia ($X per ton) and Italy ($X per ton), while the price for Thailand ($X per ton) and South Korea ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Israel (+2.6%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform