Myanmar Hair Care Market Shipment Analysis
Myanmar Hair Care Market registered a decline of -30.17% in value shipments in 2022 as compared to 2021 and a decrease of -12.34% CAGR in 2022 over a period of 2017. In Hair Care Market Myanmar is becoming more competitive as the HHI index in 2022 was 2178 while in 2017 it was 2691. Herfindahl Index measures the competitiveness of exporting countries. The range lies from 0 to 10000, where a lower index number represents a larger number of players or exporting countries in the market while a large index number means less numbers of players or countries exporting in the market.
Myanmar has reportedly relied more on imports to meet its growing demand in Hair Care Market. India is unable to meet its increasing needs of this product with domestic production hence we see the trend is shifting towards import shipment to meet its demand The import factor of Hair Care Market in 2022 was 660595.09 while in 2017 it was 167.69. China, Italy, India, Indonesia and Malaysia were among the top players of the market in 2022, where China acquired the largest market share of 29.87% with a shipment value of 0.55 million USD in 2022 China also offered the product above the average market price, but remained at the leadership position indicating the trust it holds in the Hair Care Market. In 2017 China had the largest market share of 38.97% with the shipment value of 2.28 million USD. The country was offering its product with an average price which is lower than the average market price offered in the country. As China price is lower than the average price, it provided a significant edge among other competitor in 2017.
