ECOWAS: Market for Electric Shavers, Hair-Removing Appliances And Hair Clippers 2024

Market Size for Electric Shavers, Hair-Removing Appliances And Hair Clippers in ECOWAS

The ECOWAS market for electric shavers, hair-removing appliances and hair clippers fell modestly to $X in 2022, waning by -2% against the previous year. Overall, consumption, however, posted a remarkable increase. As a result, consumption attained the peak level of $X, and then shrank slightly in the following year.

Production of Electric Shavers, Hair-Removing Appliances And Hair Clippers in ECOWAS

In value terms, production of electric shavers, hair-removing appliances and hair clippers declined to $X in 2022 estimated in export price. In general, production, however, recorded a tangible expansion. The most prominent rate of growth was recorded in 2015 when the production volume increased by 90% against the previous year. Over the period under review, production of attained the peak level at $X in 2016; however, from 2017 to 2022, production remained at a lower figure.

Exports of Electric Shavers, Hair-Removing Appliances And Hair Clippers

Exports in ECOWAS

In 2022, approx. X units of electric shavers, hair-removing appliances and hair clippers were exported in ECOWAS; with a decrease of -33.5% against the previous year's figure. In general, exports continue to indicate a abrupt decrease. The growth pace was the most rapid in 2015 with an increase of 205% against the previous year. Over the period under review, the exports of attained the maximum at X units in 2018; however, from 2019 to 2022, the exports stood at a somewhat lower figure.

In value terms, exports of electric shavers, hair-removing appliances and hair clippers reduced markedly to $X in 2022. Overall, exports recorded a deep reduction. The growth pace was the most rapid in 2017 with an increase of 352% against the previous year. Over the period under review, the exports of hit record highs at $X in 2020; however, from 2021 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Sierra Leone represented the key exporter of electric shavers, hair-removing appliances and hair clippers in ECOWAS, with the volume of exports recording X units, which was near 42% of total exports in 2022. Nigeria (X units) ranks second in terms of the total exports with an 18% share, followed by Ghana (18%), Cote d'Ivoire (8.9%) and Niger (5%). The following exporters - Senegal (X units) and Benin (X units) - together made up 7.3% of total exports.

Exports from Sierra Leone increased at an average annual rate of +10.7% from 2012 to 2022. At the same time, Benin (+14.9%) displayed positive paces of growth. Moreover, Benin emerged as the fastest-growing exporter exported in ECOWAS, with a CAGR of +14.9% from 2012-2022. Cote d'Ivoire experienced a relatively flat trend pattern. By contrast, Niger (-10.1%), Nigeria (-12.8%), Senegal (-15.4%) and Ghana (-19.9%) illustrated a downward trend over the same period. Sierra Leone (+37 p.p.), Cote d'Ivoire (+6.1 p.p.), Niger (+5 p.p.) and Benin (+3.2 p.p.) significantly strengthened its position in terms of the total exports, while Senegal, Nigeria and Ghana saw its share reduced by -2.9%, -5.1% and -35.5% from 2012 to 2022, respectively.

In value terms, Sierra Leone ($X) remains the largest electric shavers, hair-removing appliances and hair clippers supplier in ECOWAS, comprising 52% of total exports. The second position in the ranking was held by Nigeria ($X), with a 21% share of total exports. It was followed by Ghana, with a 10% share.

From 2012 to 2022, the average annual growth rate of value in Sierra Leone was relatively modest. The remaining exporting countries recorded the following average annual rates of exports growth: Nigeria (-6.1% per year) and Ghana (-24.5% per year).

Export Prices by Country

The export price in ECOWAS stood at $X per unit in 2022, remaining stable against the previous year. In general, the export price, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2019 an increase of 125%. As a result, the export price attained the peak level of $X per unit. From 2020 to 2022, 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 Sierra Leone ($X per unit), while Ghana ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Nigeria (+7.7%), while the other leaders experienced more modest paces of growth.

Imports of Electric Shavers, Hair-Removing Appliances And Hair Clippers

Imports in ECOWAS

In 2022, approx. X units of electric shavers, hair-removing appliances and hair clippers were imported in ECOWAS; waning by -6.1% on the previous year's figure. Over the period under review, imports, however, recorded prominent growth. The growth pace was the most rapid in 2021 when imports increased by 69%. As a result, imports attained the peak of X units, and then dropped in the following year.

In value terms, imports of electric shavers, hair-removing appliances and hair clippers shrank modestly to $X in 2022. In general, imports, however, posted a buoyant expansion. The most prominent rate of growth was recorded in 2021 when imports increased by 73% against the previous year. As a result, imports reached the peak of $X, and then shrank in the following year.

Imports by Country

In 2022, Guinea (X units), Nigeria (X units) and Cote d'Ivoire (X units) was the major importer of electric shavers, hair-removing appliances and hair clippers in ECOWAS, creating 73% of total import. It was distantly followed by Benin (X units) and Ghana (X units), together constituting a 17% share of total imports. The following importers - Senegal (X units) and Mali (X units) - each reached a 6% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Guinea (with a CAGR of +33.0%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Nigeria ($X), Cote d'Ivoire ($X) and Ghana ($X) appeared to be the countries with the highest levels of imports in 2022, together accounting for 74% of total imports. Benin, Guinea, Senegal and Mali lagged somewhat behind, together comprising a further 23%.

Benin, with a CAGR of +25.7%, saw the highest growth rate of the value of imports, in terms of 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

The import price in ECOWAS stood at $X per unit in 2022, growing by 4.7% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.3%. The pace of growth appeared the most rapid in 2018 an increase of 8.8% against the previous year. Over the period under review, import prices attained the maximum at $X per unit in 2019; afterwards, it flattened through to 2022.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Nigeria ($X per unit), while Guinea ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Nigeria (+7.1%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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