From 2012 to 2022, the Mexico Hair Lacquers market exhibited a fluctuating trend in market size value. The market grew from $7.87 million in 2012 to $9.77 million in 2022, demonstrating periods of both growth and decline. Despite significant dips in 2015 and 2020 with -14.49% and -4.47% year-on-year variation respectively, the market showed resilience with positive growth in subsequent years. Notably, 2017 saw a remarkable 12.1% increase, followed by 10.79% in 2018, indicating strong recovery phases.
From 2016 to 2021, the market saw a CAGR ranging between -0.42% and 5.61%, highlighting varying annual growth trends. A consistent upward trajectory was observed post-2020 with the market climbing to $9.77 million in 2022, showcasing a steady year-on-year increase of 1.51% in the last analyzed year.
Future trends to watch for include potential market expansion driven by increasing consumer demand for premium and organic hair care products. Technological advancements in product formulations and an increase in disposable income levels may further stimulate market growth. However, market volatility may persist due to economic uncertainties and supply chain disruptions.