Western Africa: Market for Hair Lotion and Preparation 2024

Market Size for Hair Lotion and Preparation in Western Africa

After two years of growth, the West African hair lotion and preparation market decreased by -6.4% to $X in 2021. The market value increased at an average annual rate of +1.0% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption attained the peak level of $X. From 2017 to 2021, the growth of the market remained at a somewhat lower figure.

Production of Hair Lotion and Preparation in Western Africa

In value terms, hair lotion and preparation production dropped to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +1.0% over the period 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 2016 with an increase of 28% against the previous year. As a result, production reached the peak level of $X. From 2017 to 2021, production growth failed to regain momentum.

Exports of Hair Lotion and Preparation

Exports in Western Africa

In 2021, after two years of decline, there was significant growth in overseas shipments of hair lotion and preparation, when their volume increased by 5.5% to X tons. Overall, exports, however, continue to indicate a abrupt curtailment. The growth pace was the most rapid in 2018 when exports increased by 55% against the previous year. The volume of export peaked at X tons in 2014; however, from 2015 to 2021, the exports failed to regain momentum.

In value terms, hair lotion and preparation exports totaled $X in 2021. In general, exports, however, saw a deep contraction. The pace of growth was the most pronounced in 2013 with an increase of 114%. As a result, the exports attained the peak of $X. From 2014 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

In 2021, Cote d'Ivoire (X tons) represented the major exporter of hair lotion and preparation, mixing up 60% of total exports. It was distantly followed by Nigeria (X tons) and Ghana (X tons), together creating a 38% share of total exports. Senegal (X tons) took a relatively small share of total exports.

From 2012 to 2021, average annual rates of growth with regard to hair lotion and preparation exports from Cote d'Ivoire stood at -10.4%. At the same time, Senegal (+10.8%) and Ghana (+1.9%) displayed positive paces of growth. Moreover, Senegal emerged as the fastest-growing exporter exported in Western Africa, with a CAGR of +10.8% from 2012-2021. By contrast, Nigeria (-6.8%) illustrated a downward trend over the same period. Ghana (+6.8 p.p.), Nigeria (+4 p.p.) and Senegal (+1.7 p.p.) significantly strengthened its position in terms of the total exports, while Cote d'Ivoire saw its share reduced by -12.9% from 2012 to 2021, respectively.

In value terms, Cote d'Ivoire ($X) remains the largest hair lotion and preparation supplier in Western Africa, comprising 67% of total exports. The second position in the ranking was held by Nigeria ($X), with a 28% share of total exports. It was followed by Ghana, with a 3.2% share.

In Cote d'Ivoire, hair lotion and preparation exports shrank by an average annual rate of -10.8% over the period from 2012-2021. The remaining exporting countries recorded the following average annual rates of exports growth: Nigeria (-8.2% per year) and Ghana (-13.9% per year).

Export Prices by Country

The export price in Western Africa stood at $X per ton in 2021, remaining relatively unchanged against the previous year. Overall, the export price showed a pronounced decline. The most prominent rate of growth was recorded in 2013 when the export price increased by 79% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2014 to 2021, the export prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Cote d'Ivoire ($X per ton), while Ghana ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Cote d'Ivoire (-0.5%), while the other leaders experienced a decline in the export price figures.

Imports of Hair Lotion and Preparation

Imports in Western Africa

In 2021, approx. X tons of hair lotion and preparation were imported in Western Africa; picking up by 11% on the previous year. Overall, imports, however, saw a pronounced setback. The pace of growth appeared the most rapid in 2018 with an increase of 19% against the previous year. Over the period under review, imports attained the peak figure at X tons in 2013; however, from 2014 to 2021, imports stood at a somewhat lower figure.

In value terms, hair lotion and preparation imports expanded significantly to $X in 2021. Over the period under review, imports, however, recorded a pronounced decrease. Over the period under review, imports reached the maximum at $X in 2013; however, from 2014 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, Ghana (X tons) represented the major importer of hair lotion and preparation, comprising 39% of total imports. Nigeria (X tons) took a 17% share (based on physical terms) of total imports, which put it in second place, followed by Senegal (10%) and Cabo Verde (7.2%). Cote d'Ivoire (X tons), Togo (X tons), Burkina Faso (X tons), Mauritania (X tons), Mali (X tons) and Benin (X tons) took a minor share of total imports.

Imports into Ghana decreased at an average annual rate of -4.0% from 2012 to 2021. At the same time, Cabo Verde (+11.8%), Cote d'Ivoire (+9.6%), Senegal (+4.1%), Mauritania (+4.1%) and Togo (+3.8%) displayed positive paces of growth. Moreover, Cabo Verde emerged as the fastest-growing importer imported in Western Africa, with a CAGR of +11.8% from 2012-2021. By contrast, Benin (-3.1%), Mali (-6.1%), Burkina Faso (-7.2%) and Nigeria (-12.0%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Senegal, Cabo Verde, Cote d'Ivoire, Mauritania, Togo and Ghana increased by +5.5, +5.4, +3.1, +2, +2 and +1.7 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Ghana ($X) constitutes the largest market for imported hair lotion and preparation in Western Africa, comprising 40% of total imports. The second position in the ranking was held by Senegal ($X), with a 17% share of total imports. It was followed by Nigeria, with an 8.2% share.

From 2012 to 2021, the average annual growth rate of value in Ghana stood at -5.9%. In the other countries, the average annual rates were as follows: Senegal (+10.8% per year) and Nigeria (-14.8% per year).

Import Prices by Country

The import price in Western Africa stood at $X per ton in 2021, standing approx. at the previous year. In general, the import price showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2014 when the import price increased by 20% against the previous year. Over the period under review, import prices reached the maximum at $X per ton in 2017; however, from 2018 to 2021, 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 Mauritania ($X per ton), while Burkina Faso ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Senegal (+6.5%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform