Ghana: Market for Electric Shavers, Hair-Removing Appliances And Hair Clippers 2022

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

The Ghanian market for electric shavers, hair-removing appliances and hair clippers fell remarkably to $X in 2021, which is down by -25.9% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, the total consumption indicated a notable increase from 2012 to 2021: its value increased at an average annual rate of +2.3% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +42.2% against 2019 indices. Over the period under review, the market attained the maximum level at $X in 2014; however, from 2015 to 2021, consumption remained at a lower figure.

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

Exports from Ghana

In 2021, exports of electric shavers, hair-removing appliances and hair clippers from Ghana dropped rapidly to X units, falling by -42.2% on the previous year's figure. Overall, exports continue to indicate a dramatic slump. The pace of growth was the most pronounced in 2020 with an increase of 718%. Over the period under review, the exports of attained the maximum at X units in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

In value terms, exports of electric shavers, hair-removing appliances and hair clippers shrank sharply to $X in 2021. Over the period under review, exports showed a precipitous setback. The pace of growth appeared the most rapid in 2020 when exports increased by 848% against the previous year. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

Exports by Country

Cote d'Ivoire (X units) was the main destination for exports of electric shavers, hair-removing appliances and hair clippers from Ghana, with a 62% share of total exports. Moreover, exports of electric shavers, hair-removing appliances and hair clippers to Cote d'Ivoire exceeded the volume sent to the second major destination, South Africa (X units), threefold. The third position in this ranking was held by the Netherlands (X units), with a 7.7% share.

From 2012 to 2021, the average annual growth rate of volume to Cote d'Ivoire totaled +12.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: South Africa (-9.9% per year) and the Netherlands (-38.3% per year).

In value terms, Cote d'Ivoire ($X) remains the key foreign market for electric shavers, hair-removing appliances and hair clippers exports from Ghana, comprising 75% of total exports. The second position in the ranking was taken by South Africa ($X), with a 13% share of total exports. It was followed by Switzerland, with a 5.6% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Cote d'Ivoire amounted to +9.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: South Africa (+5.2% per year) and Switzerland (0.0% per year).

Export Prices by Country

In 2021, the average export price for electric shavers, hair-removing appliances and hair clippers amounted to $X per unit, with a decrease of -1.9% against the previous year. Over the period under review, the export price recorded a drastic downturn. The most prominent rate of growth was recorded in 2019 an increase of 53% against the previous year. The export price peaked at $X per unit in 2013; however, from 2014 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably country of destination: the country with the highest price was Cote d'Ivoire ($X per unit), while the average price for exports to the Netherlands ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to South Africa (+16.7%), while the prices for the other major destinations experienced mixed trend patterns.

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

Imports into Ghana

In 2021, imports of electric shavers, hair-removing appliances and hair clippers into Ghana fell significantly to X units, with a decrease of -24.6% against 2020 figures. Overall, imports recorded a slight slump. The pace of growth appeared the most rapid in 2014 when imports increased by 98% against the previous year. As a result, imports reached the peak of X units. From 2015 to 2021, the growth of imports of remained at a lower figure.

In value terms, imports of electric shavers, hair-removing appliances and hair clippers reduced dramatically to $X in 2021. Over the period under review, imports, however, saw a notable increase. The most prominent rate of growth was recorded in 2020 with an increase of 112%. As a result, imports reached the peak of $X, and then fell remarkably in the following year.

Imports by Country

In 2021, China (X units) constituted the largest electric shavers, hair-removing appliances and hair clippers supplier to Ghana, with a 64% share of total imports. Moreover, imports of electric shavers, hair-removing appliances and hair clippers from China exceeded the figures recorded by the second-largest supplier, South Africa (X units), fourfold. The third position in this ranking was taken by the United Arab Emirates (X units), with a 14% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: South Africa (-5.4% per year) and the United Arab Emirates (+2.9% per year).

In value terms, China ($X), the United Arab Emirates ($X) and South Africa ($X) were the largest electric shavers, hair-removing appliances and hair clippers suppliers to Ghana, together accounting for 89% of total imports.

Among the main suppliers, the United Arab Emirates, with a CAGR of +18.5%, 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 mixed trend patterns.

Import Prices by Country

In 2021, the average import price for electric shavers, hair-removing appliances and hair clippers amounted to $X per unit, with a decrease of -2.4% against the previous year. Overall, import price indicated a measured increase from 2012 to 2021: its price increased at an average annual rate of +4.1% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, import price for electric shavers, hair-removing appliances and hair clippers increased by +97.7% against 2014 indices. The most prominent rate of growth was recorded in 2020 when the average import price increased by 45%. As a result, import price attained the peak level of $X per unit, and then declined in the following year.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was the UK ($X per unit), while the price for Hong Kong SAR ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the UK (+18.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform

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