Philippines Hair Care Market Shipment Analysis
Philippines Hair Care Market registered a growth of 21.47% in value shipments in 2022 as compared to 2021 and a decrease of -2.2% CAGR in 2022 over a period of 2017. In Hair Care Market Philippines is becoming more competitive as the HHI index in 2022 was 3011 while in 2017 it was 3746. 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.
Philippines has reportedly relied more on imports to meet its growing demand in Hair Care Market. India is shifting towards local production to meet its demand as we see the trend is shifting towards reducing imports. The import factor of Hair Care Market in 2022 was 18.33 while in 2017 it was 45.02. Thailand, China, Indonesia, USA and Spain were among the top players of the market in 2022, where Thailand acquired the largest market share of 44.1% with a shipment value of 17.64 million USD in 2022 Thailand 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 Thailand had the largest market share of 58.06% with the shipment value of 21.85 million USD. The country was offering its product with an average price which is higher than the average market price offered in the country. Although Thailand offers its product above the market average price, it remained at the leadership position indicating the brand value it holds in the Philippines Hair Care Market in 2017.
