The import of essential oils, perfumes, cosmetics, and toiletries to Angola has shown significant fluctuation over the years. From 2013 to 2023, the import value experienced various ups and downs, with notable declines in 2015 and 2016 but recovery in subsequent years. By 2023, the import value stood at 181.18 million USD. The year-on-year variations and CAGR reveal periods of both sharp decline and moderate growth.
For instance, from 2021 to 2022, there was a modest increase of 2.77%, followed by a similar 2.64% growth from 2022 to 2023. The five-year CAGR ending in 2023 indicates an average annual growth of 1.6%. Looking forward, the forecasted CAGR for 2024 to 2028 is estimated at 1.98%, projecting a total growth rate of 10.31% over this period, indicating stable growth.
Future trends to watch for include:
- Economic stability and its impact on consumer purchasing power in Angola.
- The influence of global supply chain dynamics on import levels.
- Potential shifts in consumer preferences toward natural and organic products.