The export value of hair preparations from Singapore reached $111.13 million in 2023, reflecting an overall steady growth trend. From 2013 to 2023, there have been fluctuations in year-on-year growth, peaking in 2016 with a 20.7% increase, while the lowest was -6.46% in 2017. The recent trends show a consistent yet moderate growth with a 3.32% increase in 2023. The five-year CAGR ending in 2023 stands at approximately 2.92%, indicating moderate and stable growth in recent years.
Looking ahead, the forecasted data suggests a continuation of this growth pattern, with an anticipated CAGR of 2.22% from 2024 to 2028 and a total growth rate of 11.63% over the same period. This implies a steady market but with slightly slower growth compared to the past decade.
Future trends to watch for:
- Increasing demand for organic and natural hair preparations may drive innovation and growth in high-value segments.
- Expanding regional markets, especially in Asia-Pacific, could provide new opportunities for export growth.
- Regulatory changes and global economic conditions could influence export dynamics and market access.
