Latvia - Cosmetics - Market Analysis, Forecast, Size, Trends And Insights
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View PricingCosmetics Price in Latvia - 2023
Contents:
- Cosmetics Price in Latvia (CIF) - 2022
- Cosmetics Price in Latvia (FOB) - 2022
- Cosmetics Imports in Latvia
- Cosmetics Exports in Latvia
Cosmetics Price in Latvia (CIF) - 2022
The average cosmetics import price stood at $24,530 per ton in 2022, picking up by 6.4% against the previous year. Over the last decade, it increased at an average annual rate of +5.2%. The most prominent rate of growth was recorded in 2021 when the average import price increased by 17% against the previous year. The import price peaked in 2022 and is expected to retain growth in the immediate term.
There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was France ($55,008 per ton), while the price for the United Arab Emirates ($4,423 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Netherlands (+14.1%), while the prices for the other major suppliers experienced more modest paces of growth.
Cosmetics Price in Latvia (FOB) - 2022
The average cosmetics export price stood at $40,659 per ton in 2022, with a decrease of -3% against the previous year. Overall, export price indicated strong growth from 2012 to 2022: its price increased at an average annual rate of +5.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, cosmetics export price increased by +9.4% against 2020 indices. The pace of growth appeared the most rapid in 2016 when the average export price increased by 30%. Over the period under review, the average export prices reached the maximum at $41,938 per ton in 2021, and then reduced modestly in the following year.
There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was the Czech Republic ($102,152 per ton), while the average price for exports to Hungary ($13,457 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the Czech Republic (+23.1%), while the prices for the other major destinations experienced more modest paces of growth.
Cosmetics Imports in Latvia
In 2022, purchases abroad of cosmetics decreased by -3% to 3.8K tons, falling for the second year in a row after two years of growth. The total import volume increased at an average annual rate of +1.5% from 2019 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2020 when imports increased by 14% against the previous year. As a result, imports reached the peak of 4.1K tons. From 2021 to 2022, the growth of imports failed to regain momentum.
In value terms, cosmetics imports rose modestly to $93M in 2022. The total import value increased at an average annual rate of +8.4% over the period from 2019 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being observed throughout the analyzed period. The most prominent rate of growth was recorded in 2020 with an increase of 12% against the previous year. Imports peaked in 2022 and are likely to continue growth in the near future.
| Import of Cosmetics in Latvia (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| France | 14.2 | 18.5 | 19.5 | 18.1 | 8.4% |
| Poland | 11.7 | 12.3 | 13.9 | 16.4 | 11.9% |
| Germany | 6.6 | 7.3 | 12.9 | 12.9 | 25.0% |
| Lithuania | 10.1 | 10.4 | 8.7 | 11.7 | 5.0% |
| Spain | 0.6 | 2.6 | 4.0 | 4.2 | 91.3% |
| Estonia | 2.7 | 2.9 | 3.7 | 3.3 | 6.9% |
| China | 3.5 | 2.9 | 3.4 | 3.1 | -4.0% |
| Russia | 4.9 | 6.9 | 5.4 | 3.1 | -14.2% |
| Italy | 1.3 | 2.6 | 2.6 | 2.4 | 22.7% |
| Netherlands | 1.3 | 1.7 | 1.6 | 2.1 | 17.3% |
| Czech Republic | 0.7 | 0.5 | 0.5 | 1.9 | 39.5% |
| Ukraine | 0.3 | 0.5 | 0.5 | 0.7 | 32.6% |
| United Arab Emirates | 5.9 | 0.9 | 0.3 | 0.7 | -50.9% |
| Others | 9.3 | 11.6 | 13.2 | 12.5 | 10.4% |
| Total | 73.1 | 81.6 | 90.1 | 93.0 | 8.4% |
Top Suppliers of Cosmetics to Latvia in 2022:
- Poland (897.0 tons)
- Germany (499.3 tons)
- China (352.4 tons)
- Lithuania (350.8 tons)
- France (329.4 tons)
- Russia (234.4 tons)
- United Arab Emirates (151.3 tons)
- Estonia (120.8 tons)
- Ukraine (111.7 tons)
- Spain (101.1 tons)
- Netherlands (100.4 tons)
- Italy (96.4 tons)
- Czech Republic (88.2 tons)
Cosmetics Exports in Latvia
In 2022, overseas shipments of cosmetics decreased by -11.7% to 2.1K tons for the first time since 2018, thus ending a three-year rising trend. The total export volume increased at an average annual rate of +10.6% from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2020 when exports increased by 30% against the previous year.
In value terms, cosmetics exports dropped to $85M in 2022. Over the period under review, total exports indicated a resilient expansion from 2019 to 2022: its value increased at an average annual rate of +12.2% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +41.3% against 2019 indices. The most prominent rate of growth was recorded in 2021 when exports increased by 33% against the previous year. As a result, the exports reached the peak of $99M, and then dropped in the following year.
| Export of Cosmetics in Latvia (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Russia | 4.9 | 14.3 | 24.9 | 14.4 | 43.2% |
| Lithuania | 12.7 | 11.4 | 12.2 | 13.9 | 3.1% |
| Czech Republic | 9.0 | 11.4 | 16.7 | 12.0 | 10.1% |
| Estonia | 5.2 | 4.8 | 7.1 | 7.8 | 14.5% |
| Germany | 1.4 | 1.3 | 2.1 | 3.5 | 35.7% |
| Poland | 3.7 | 4.9 | 3.9 | 3.3 | -3.7% |
| Spain | 1.4 | 1.6 | 2.3 | 2.4 | 19.7% |
| Italy | 1.4 | 1.8 | 1.8 | 2.1 | 14.5% |
| France | 0.5 | 1.3 | 1.6 | 2.0 | 58.7% |
| Romania | 1.4 | 0.9 | 1.3 | 1.1 | -7.7% |
| China | 1.5 | 1.8 | 3.1 | 1.1 | -9.8% |
| Hungary | 1.1 | 1.9 | 0.6 | 0.5 | -23.1% |
| Others | 16.1 | 17.4 | 21.6 | 20.9 | 9.1% |
| Total | 60.1 | 74.8 | 99.2 | 84.9 | 12.2% |
Top Export Markets for Cosmetics from Latvia in 2022:
- Russia (409.6 tons)
- Lithuania (321.9 tons)
- Estonia (188.2 tons)
- Poland (178.8 tons)
- Czech Republic (117.0 tons)
- Italy (88.5 tons)
- Spain (75.7 tons)
- Germany (69.5 tons)
- China (65.1 tons)
- Romania (45.8 tons)
- France (39.1 tons)
- Hungary (38.9 tons)
This report provides an in-depth analysis of the cosmetics market in Latvia. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.
Product coverage:
- Prodcom 20421250 - Lip make-up preparations
- Prodcom 20421270 - Eye make-up preparations
- Prodcom 20421300 - Manicure or pedicure preparations
- Prodcom 20421400 - Powders, whether or not compressed, for cosmetic use (including talcum powder)
- Prodcom 20421500 - Beauty, make-up and skin care preparations including suntan (excluding medicaments, lip and eye make-up, manicure and pedicure preparations, powders for cosmetic use and talcum powder)
Country coverage:
- Latvia
Data coverage:
- Market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Trade (exports and imports) in Latvia
- Export and import prices
- Market trends, drivers and restraints
- Key market players and their profiles
Reasons to buy this report:
- Take advantage of the latest data
- Find deeper insights into current market developments
- Discover vital success factors affecting the market
This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.
In this report, you can find information that helps you to make informed decisions on the following issues:
- How to diversify your business and benefit from new market opportunities
- How to load your idle production capacity
- How to boost your sales on overseas markets
- How to increase your profit margins
- How to make your supply chain more sustainable
- How to reduce your production and supply chain costs
- How to outsource production to other countries
- How to prepare your business for global expansion
While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.
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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
-
2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
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3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- MARKET STRUCTURE
- TRADE BALANCE
- PER CAPITA CONSUMPTION
- MARKET FORECAST TO 2030
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4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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5. MOST PROMISING SUPPLYING COUNTRIES
Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
- EXPORTS FROM 2012–2023
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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10. PROFILES OF MAJOR PRODUCERS
The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO -
LIST OF TABLES
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption In 2012-2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
- Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
- Trade Balance, In Physical Terms, 2012-2023
- Trade Balance, In Value Terms, 2012-2023
- Per Capita Consumption, 2012-2023
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2023
- Production, In Value Terms, 2012–2023
- Imports, In Physical Terms, 2012–2023
- Imports, In Value Terms, 2012–2023
- Imports, In Physical Terms, By Country, 2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, 2012–2023
- Exports, In Value Terms, 2012–2023
- Exports, In Physical Terms, By Country, 2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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The pandemic hit the cosmetic market hard due to the closures of retail outlets. The market responds by switching to personal care goods and developing innovative digital services. While China remains the global leader in terms of cosmetics consumption, Hong Kong and Singapore feature the highest cosmetics per capita consumption in the world.
791
The global skin care market revenue amounted to $129.7B in 2018, surging by 9.2% against the previous year. This...
1956
Global skin care imports totaled X tons in 2016, import ,therefore, remained relatively stable against the previous year level. Overall, it indicated a noticeable increase from 2007 to 2016: the ...
