Western Africa: Cosmetics Market 2024

Cosmetics Market Size in Western Africa

In 2022, the West African cosmetics market decreased by X% to $X, falling for the second consecutive year after nine years of growth. The market value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, consumption attained the peak level of $X. From 2021 to 2022, the growth of the market remained at a lower figure.

Cosmetics Production in Western Africa

In value terms, cosmetics production expanded slightly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2020 with an increase of X% against the previous year. As a result, production reached the peak level of $X. From 2021 to 2022, production growth remained at a lower figure.

Cosmetics Exports

Exports in Western Africa

In 2022, exports of cosmetics in Western Africa amounted to X tons, picking up by X% compared with 2021. Total exports indicated resilient growth from 2012 to 2022: its volume increased at an average annual rate of X% 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 X% against 2015 indices. The growth pace was the most rapid in 2014 when exports increased by X% against the previous year. Over the period under review, the exports attained the peak figure in 2022 and are expected to retain growth in years to come.

In value terms, cosmetics exports rose notably to $X in 2022. Total exports indicated strong growth from 2012 to 2022: its value increased at an average annual rate of X% 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 X% against 2015 indices. The most prominent rate of growth was recorded in 2015 with an increase of X%. Over the period under review, the exports attained the maximum in 2022 and are likely to see gradual growth in the near future.

Exports by Country

Cote d'Ivoire was the main exporting country with an export of around X tons, which amounted to X% of total exports. Togo (X tons) took a X% share (based on physical terms) of total exports, which put it in second place, followed by Senegal (X%).

Exports from Cote d'Ivoire increased at an average annual rate of X% from 2012 to 2022. At the same time, Togo (X%) and Senegal (X%) displayed positive paces of growth. Moreover, Togo emerged as the fastest-growing exporter exported in Western Africa, with a CAGR of X% from 2012-2022. While the share of Togo (X p.p.) and Senegal (X p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Cote d'Ivoire (X p.p.) displayed negative dynamics.

In value terms, Cote d'Ivoire ($X) remains the largest cosmetics supplier in Western Africa, comprising X% of total exports. The second position in the ranking was held by Togo ($X), with a X% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value in Cote d'Ivoire stood at X%. The remaining exporting countries recorded the following average annual rates of exports growth: Togo (X% per year) and Senegal (X% per year).

Export Prices by Country

The export price in Western Africa stood at $X per ton in 2022, dropping by X% against the previous year. Overall, the export price saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2013 when the export price increased by X%. As a result, the export price attained the peak level of $X per ton. From 2014 to 2022, the export prices remained at a somewhat lower figure.

Average prices varied noticeably amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Senegal ($X per ton), while Cote d'Ivoire ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Senegal (X%), while the other leaders experienced a decline in the export price figures.

Cosmetics Imports

Imports in Western Africa

In 2022, purchases abroad of cosmetics decreased by X% to X tons, falling for the second year in a row after four years of growth. Total imports indicated a temperate expansion from 2012 to 2022: its volume increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by X% against 2020 indices. The most prominent rate of growth was recorded in 2020 with an increase of X% against the previous year. As a result, imports attained the peak of X tons. From 2021 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, cosmetics imports reduced sharply to $X in 2022. Total imports indicated perceptible growth from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by X% against 2020 indices. The pace of growth was the most pronounced in 2015 when imports increased by X% against the previous year. The level of import peaked at $X in 2020; however, from 2021 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, Ghana (X tons), distantly followed by Nigeria (X tons), Burkina Faso (X tons), Guinea (X tons), Senegal (X tons) and Mali (X tons) were the key importers of cosmetics, together generating X% of total imports. Niger (X tons) took a minor share of total imports.

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

In value terms, Ghana ($X) constitutes the largest market for imported cosmetics in Western Africa, comprising X% of total imports. The second position in the ranking was taken by Guinea ($X), with a X% share of total imports. It was followed by Mali, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Ghana stood at X%. The remaining importing countries recorded the following average annual rates of imports growth: Guinea (X% per year) and Mali (X% per year).

Import Prices by Country

In 2022, the import price in Western Africa amounted to $X per ton, dropping by X% against the previous year. In general, the import price, however, continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2015 an increase of X%. As a result, import price reached the peak level of $X per ton. From 2016 to 2022, the import prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Mali ($X per ton), while Burkina Faso ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Nigeria (X%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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