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

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

The Philippine market for electric shavers, hair-removing appliances and hair clippers skyrocketed to $X in 2022, jumping by 33% 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, consumption posted resilient growth. Over the period under review, the market hit record highs at $X in 2016; however, from 2017 to 2022, consumption remained at a lower figure.

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

Exports from the Philippines

In 2022, approx. X units of electric shavers, hair-removing appliances and hair clippers were exported from the Philippines; growing by 100% compared with 2021 figures. Overall, exports enjoyed significant growth. The most prominent rate of growth was recorded in 2019 when exports increased by 1,424% against the previous year. As a result, the exports reached the peak of X units. From 2020 to 2022, the growth of the exports of remained at a somewhat lower figure.

In value terms, exports of electric shavers, hair-removing appliances and hair clippers surged to $X in 2022. Over the period under review, exports recorded a significant increase. The most prominent rate of growth was recorded in 2019 when exports increased by 1,560% against the previous year. As a result, the exports reached the peak of $X. From 2020 to 2022, the growth of the exports of remained at a somewhat lower figure.

Exports by Country

Vietnam (X units) was the main destination for exports of electric shavers, hair-removing appliances and hair clippers from the Philippines, with a approx. 100% share of total exports.

From 2012 to 2022, the average annual growth rate of volume to Vietnam was relatively modest.

In value terms, Vietnam ($X) emerged as the key foreign market for electric shavers, hair-removing appliances and hair clippers exports from the Philippines.

From 2012 to 2022, the average annual rate of growth in terms of value to Vietnam was relatively modest.

Export Prices by Country

In 2022, the average export price for electric shavers, hair-removing appliances and hair clippers amounted to $X per unit, which is down by -2.2% against the previous year. In general, the export price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 an increase of 162% against the previous year. As a result, the export price attained the peak level of $X per unit. From 2014 to 2022, the average export prices failed to regain momentum.

As there is only one major export destination, the average price level is determined by prices for Vietnam.

From 2012 to 2022, the rate of growth in terms of prices for Hong Kong SAR amounted to +1.8% per year.

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

Imports into the Philippines

Imports of electric shavers, hair-removing appliances and hair clippers into the Philippines soared to X units in 2022, increasing by 85% on 2021. In general, imports posted a buoyant expansion. The pace of growth appeared the most rapid in 2015 with an increase of 99% against the previous year. Imports peaked at X units in 2016; however, from 2017 to 2022, imports failed to regain momentum.

In value terms, imports of electric shavers, hair-removing appliances and hair clippers contracted modestly to $X in 2022. Overall, imports posted a resilient increase. The most prominent rate of growth was recorded in 2015 when imports increased by 301%. Over the period under review, imports of attained the maximum at $X in 2020; however, from 2021 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, China (X units) was the main electric shavers, hair-removing appliances and hair clippers supplier to the Philippines, with a 90% 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, Hungary (X units), more than tenfold. Indonesia (X units) ranked third in terms of total imports with a 3.2% share.

From 2012 to 2022, the average annual growth rate of volume from China stood at +18.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Hungary (+48.2% per year) and Indonesia (+189.1% per year).

In value terms, China ($X) constituted the largest supplier of electric shavers, hair-removing appliances and hair clippers to the Philippines, comprising 48% of total imports. The second position in the ranking was taken by Hungary ($X), with a 15% share of total imports. It was followed by Indonesia, with an 8.6% share.

From 2012 to 2022, the average annual growth rate of value from China amounted to +36.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Hungary (+44.9% per year) and Indonesia (+174.4% per year).

Import Prices by Country

In 2022, the average import price for electric shavers, hair-removing appliances and hair clippers amounted to $X per unit, which is down by -47.3% against the previous year. Over the period under review, the import price, however, saw a resilient increase. The pace of growth was the most pronounced in 2015 when the average import price increased by 101% against the previous year. Over the period under review, average import prices hit record highs at $X per unit in 2019; however, from 2020 to 2022, import prices failed to regain momentum.

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 New Zealand ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by New Zealand (+97.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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