Azerbaijan: Cosmetics Market 2022

Cosmetics Market Size in Azerbaijan

In 2021, the Azerbaijani cosmetics market increased by X% to $X for the first time since 2018, thus ending a two-year declining trend. Over the period under review, the total consumption indicated a perceptible increase from 2012 to 2021: its value increased at an average annual rate of +X% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market attained the maximum level in 2021 and is likely to see steady growth in the near future.

Cosmetics Exports

Exports from Azerbaijan

In 2021, after nine years of growth, there was decline in overseas shipments of cosmetics, when their volume decreased by -X% to X tons. Overall, exports, however, continue to indicate a significant increase. The pace of growth appeared the most rapid in 2016 when exports increased by X%. Over the period under review, the exports hit record highs at X tons in 2020, and then fell slightly in the following year.

In value terms, cosmetics exports contracted rapidly to $X in 2021. In general, exports, however, continue to indicate a significant increase. The growth pace was the most rapid in 2019 when exports increased by X%. As a result, the exports reached the peak of $X. From 2020 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

Russia (X tons) was the main destination for cosmetics exports from Azerbaijan, accounting for a X% share of total exports. Moreover, cosmetics exports to Russia exceeded the volume sent to the second major destination, Georgia (X tons), twofold.

From 2012 to 2021, the average annual growth rate of volume to Russia amounted to +X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Georgia (+X% per year) and Turkey (+X% per year).

In value terms, Russia ($X) emerged as the key foreign market for cosmetics exports from Azerbaijan, comprising X% of total exports. The second position in the ranking was held by Georgia ($X), with a X% share of total exports.

From 2012 to 2021, the average annual growth rate of value to Russia amounted to +X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Georgia (+X% per year) and Turkey (+X% per year).

Export Prices by Country

The average cosmetics export price stood at $X per ton in 2021, shrinking by -X% against the previous year. Over the period under review, the export price showed a perceptible decline. The pace of growth was the most pronounced in 2017 an increase of X% against the previous year. Over the period under review, the average export prices hit record highs at $X per ton in 2014; however, from 2015 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major export markets. In 2021, the country with the highest price was Turkey ($X per ton), while the average price for exports to Georgia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Turkey (-X%), while the prices for the other major destinations experienced a decline.

Cosmetics Imports

Imports into Azerbaijan

In 2021, after three years of decline, there was significant growth in supplies from abroad of cosmetics, when their volume increased by X% to X tons. In general, total imports indicated tangible growth from 2012 to 2021: its volume increased at an average annual rate of +X% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by -X% against 2017 indices. The pace of growth appeared the most rapid in 2016 when imports increased by X% against the previous year. Over the period under review, imports reached the maximum at X tons in 2017; however, from 2018 to 2021, imports failed to regain momentum.

In value terms, cosmetics imports soared to $X in 2021. Over the period under review, imports enjoyed a strong increase. The most prominent rate of growth was recorded in 2013 when imports increased by X%. Over the period under review, imports attained the peak figure at $X in 2014; however, from 2015 to 2021, imports stood at a somewhat lower figure.

Imports by Country

Russia (X tons), Turkey (X tons) and China (X tons) were the main suppliers of cosmetics imports to Azerbaijan, with a combined X% share of total imports. Poland, France, Italy, Ukraine, Iran, Germany, South Korea, Belarus and Bulgaria lagged somewhat behind, together accounting for a further X 2012 to 2021, the biggest increases were in Iran (with a CAGR of +X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest cosmetics suppliers to Azerbaijan were Russia ($X), France ($X) and Turkey ($X), with a combined X% share of total imports. These countries were followed by Italy, South Korea, Poland, China, Germany, Ukraine, Belarus, Bulgaria and Iran, which together accounted for a further X terms of the main suppliers, Iran, with a CAGR of +X%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average cosmetics import price amounted to $X per ton, jumping by X% against the previous year. Overall, import price indicated moderate growth from 2012 to 2021: its price increased at an average annual rate of +X% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, cosmetics import price increased by +X% against 2017 indices. The pace of growth was the most pronounced in 2013 when the average import price increased by X% against the previous year. As a result, import price attained the peak level of $X per ton. From 2014 to 2021, the average import prices remained at a somewhat lower figure.

Prices varied noticeably by the country of origin: the country with the highest price was South Korea ($X per ton), while the price for Iran ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Italy (+X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform