Western Africa: Cosmetics Market 2024

Cosmetics Market Size in Western Africa

In 2023, the West African cosmetics market decreased by X% to $X, falling for the third year in a row after three years of growth. The total consumption indicated noticeable growth from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, consumption decreased by X% against 2020 indices. Over the period under review, the market hit record highs at $X in 2020; however, from 2021 to 2023, consumption remained at a lower figure.

Cosmetics Production in Western Africa

In value terms, cosmetics production amounted to $X in 2023 estimated in export price. The total production indicated buoyant growth from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, production decreased by X% against 2021 indices. The pace of growth appeared the most rapid in 2018 when the production volume increased by X% against the previous year. Over the period under review, production reached the maximum level at $X in 2021; however, from 2022 to 2023, production failed to regain momentum.

Cosmetics Exports

Exports in Western Africa

In 2023, the amount of cosmetics exported in Western Africa amounted to X tons, flattening at 2022. Total exports indicated a buoyant expansion from 2012 to 2023: its volume increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, exports increased by X% against 2017 indices. The growth pace was the most rapid in 2014 with an increase of X%. The volume of export peaked in 2023 and is likely to see gradual growth in the immediate term.

In value terms, cosmetics exports stood at $X in 2023. Total exports indicated a remarkable increase from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, exports increased by X% against 2019 indices. The pace of growth appeared the most rapid in 2017 when exports increased by X%. The level of export peaked in 2023 and is likely to see steady growth in the near future.

Exports by Country

Cote d'Ivoire represented the major exporting country with an export of about X tons, which recorded X% of total exports. Togo (X tons) took the second position in the ranking, followed by Senegal (X tons). All these countries together held near X% share of total exports. Ghana (X tons) took a relatively small share of total exports.

Exports from Cote d'Ivoire increased at an average annual rate of X% from 2012 to 2023. 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 2012-2023. By contrast, Ghana (X%) illustrated a downward trend over the same period. Togo (X p.p.) and Senegal (X p.p.) significantly strengthened its position in terms of the total exports, while Cote d'Ivoire and Ghana saw its share reduced by X% and X% from 2012 to 2023, respectively.

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. It was followed by Senegal, with a X% share.

In Cote d'Ivoire, cosmetics exports increased at an average annual rate of X% over the period from 2012-2023. In the other countries, the average annual rates were as follows: 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 2023, standing approx. at the previous year. Over the period under review, the export price, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 when the export price increased by X%. The level of export peaked at $X per ton in 2015; however, from 2016 to 2023, the export prices stood at a somewhat lower figure.

Average prices varied somewhat amongst the major exporting countries. In 2023, major exporting countries recorded the following prices: in Togo ($X per ton) and Senegal ($X per ton), while Ghana ($X per ton) and Cote d'Ivoire ($X per ton) were amongst the lowest.

From 2012 to 2023, 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 2023, approx. X tons of cosmetics were imported in Western Africa; which is down by X% against the year before. Total imports indicated a measured increase from 2012 to 2023: its volume increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, imports decreased by X% against 2020 indices. The growth pace was the most rapid in 2020 when imports increased by X%. As a result, imports reached the peak of X tons. From 2021 to 2023, the growth of imports remained at a lower figure.

In value terms, cosmetics imports declined significantly to $X in 2023. Total imports indicated a measured expansion from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, imports decreased by X% against 2020 indices. The pace of growth appeared the most rapid in 2020 with an increase of X% against the previous year. As a result, imports attained the peak of $X. From 2021 to 2023, the growth of imports remained at a lower figure.

Imports by Country

In 2023, Nigeria (X tons) was the major importer of cosmetics, comprising X% of total imports. Mali (X tons) ranks second in terms of the total imports with a X% share, followed by Guinea (X%), Senegal (X%), Burkina Faso (X%), Benin (X%), Mauritania (X%), Ghana (X%) and Cote d'Ivoire (X%).

Nigeria experienced a relatively flat trend pattern with regard to volume of imports of cosmetics. At the same time, Mali (X%), Cote d'Ivoire (X%), Senegal (X%), Mauritania (X%), Guinea (X%) and Burkina Faso (X%) displayed positive paces of growth. Moreover, Mali emerged as the fastest-growing importer imported in Western Africa, with a CAGR of X% from 2012-2023. By contrast, Benin (X%) and Ghana (X%) illustrated a downward trend over the same period. While the share of Mali (X p.p.), Senegal (X p.p.), Cote d'Ivoire (X p.p.), Guinea (X p.p.) and Mauritania (X p.p.) increased significantly in terms of the total imports from 2012-2023, the share of Benin (X p.p.), Nigeria (X p.p.) and Ghana (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest cosmetics importing markets in Western Africa were Nigeria ($X), Senegal ($X) and Guinea ($X), together comprising X% of total imports. Mali, Mauritania, Cote d'Ivoire, Ghana, Benin and Burkina Faso lagged somewhat behind, together comprising a further X%.

Mali, with a CAGR of X%, recorded the highest rates of growth with regard to the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2023, the import price in Western Africa amounted to $X per ton, remaining stable against the previous year. Over the period under review, the import price showed a relatively flat trend pattern. The growth pace was the most rapid in 2014 when the import price increased by X% against the previous year. The level of import peaked at $X per ton in 2018; however, from 2019 to 2023, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2023, amid the top importers, the country with the highest price was Cote d'Ivoire ($X per ton), while Burkina Faso ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Guinea (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform