Asia: Odoriferous Substance Mixture Market 2024

Odoriferous Substance Mixture Market Size in Asia

The Asian odoriferous substance mixture market rose to $X in 2022, surging by 1.8% against the previous year. The market value increased at an average annual rate of +3.5% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market reached the peak level at $X in 2020; however, from 2021 to 2022, consumption failed to regain momentum.

Odoriferous Substance Mixture Production in Asia

In value terms, odoriferous substance mixture production fell slightly to $X in 2022 estimated in export price. The total production indicated notable growth from 2012 to 2022: its value increased at an average annual rate of +3.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by +0.3% against 2020 indices. The most prominent rate of growth was recorded in 2018 when the production volume increased by 43% against the previous year. As a result, production attained the peak level of $X. From 2019 to 2022, production growth remained at a somewhat lower figure.

Odoriferous Substance Mixture Exports

Exports in Asia

In 2022, exports of mixtures of odoriferous substances and their preparations in Asia expanded remarkably to X tons, with an increase of 5.9% on 2021 figures. Total exports indicated a buoyant increase from 2012 to 2022: its volume increased at an average annual rate of +5.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +76.6% against 2012 indices. The most prominent rate of growth was recorded in 2017 when exports increased by 9.1%. Over the period under review, the exports reached the maximum in 2022 and are expected to retain growth in years to come.

In value terms, odoriferous substance mixture exports reached $X in 2022. Total exports indicated a pronounced expansion from 2012 to 2022: its value increased at an average annual rate of +3.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +85.2% against 2015 indices. The most prominent rate of growth was recorded in 2018 when exports increased by 20% against the previous year. The level of export peaked in 2022 and is expected to retain growth in years to come.

Exports by Country

Singapore was the major exporting country with an export of around X tons, which amounted to 41% of total exports. It was distantly followed by China (X tons), India (X tons), Indonesia (X tons) and Turkey (X tons), together constituting a 42% share of total exports. The following exporters - Thailand (X tons) and Japan (X tons) - together made up 6.8% of total exports.

From 2012 to 2022, average annual rates of growth with regard to odoriferous substance mixture exports from Singapore stood at +4.3%. At the same time, Turkey (+19.5%), Indonesia (+14.9%), Thailand (+8.8%), India (+8.1%) and China (+5.4%) displayed positive paces of growth. Moreover, Turkey emerged as the fastest-growing exporter exported in Asia, with a CAGR of +19.5% from 2012-2022. By contrast, Japan (-2.0%) illustrated a downward trend over the same period. While the share of Indonesia (+5.1 p.p.), Turkey (+4.6 p.p.) and India (+2.3 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Japan (-3.4 p.p.) and Singapore (-6.4 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Singapore ($X) remains the largest odoriferous substance mixture supplier in Asia, comprising 49% of total exports. The second position in the ranking was held by China ($X), with a 9.4% share of total exports. It was followed by India, with an 8.5% share.

In Singapore, odoriferous substance mixture exports expanded at an average annual rate of +2.1% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: China (+3.4% per year) and India (+5.2% per year).

Export Prices by Country

In 2022, the export price in Asia amounted to $X per ton, with a decrease of -2% against the previous year. Over the period under review, the export price showed a slight reduction. The pace of growth was the most pronounced in 2018 when the export price increased by 11%. Over the period under review, the export prices attained the maximum at $X per ton in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Japan ($X per ton), while Indonesia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Japan (+1.7%), while the other leaders experienced more modest paces of growth.

Odoriferous Substance Mixture Imports

Imports in Asia

In 2022, approx. X tons of mixtures of odoriferous substances and their preparations were imported in Asia; picking up by 2.8% against 2021 figures. The total import volume increased at an average annual rate of +3.9% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2019 when imports increased by 10% against the previous year. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in the immediate term.

In value terms, odoriferous substance mixture imports expanded slightly to $X in 2022. Total imports indicated a buoyant expansion from 2012 to 2022: its value increased at an average annual rate of +5.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +67.6% against 2012 indices. The most prominent rate of growth was recorded in 2019 when imports increased by 11% against the previous year. Over the period under review, imports attained the maximum in 2022 and are likely to see gradual growth in the immediate term.

Imports by Country

In 2022, Thailand (X tons), the Philippines (X tons), Turkey (X tons), Indonesia (X tons), Vietnam (X tons), China (X tons) and the United Arab Emirates (X tons) represented the major importer of mixtures of odoriferous substances and their preparations in Asia, comprising 56% of total import. The following importers - Japan (X tons), Iran (X tons), Malaysia (X tons), Singapore (X tons), Iraq (X tons) and Saudi Arabia (X tons) - together made up 18% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Iraq (with a CAGR of +19.7%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest odoriferous substance mixture importing markets in Asia were Thailand ($X), the United Arab Emirates ($X) and China ($X), with a combined 26% share of total imports. Indonesia, Vietnam, Turkey, the Philippines, Japan, Singapore, Saudi Arabia, Malaysia, Iran and Iraq lagged somewhat behind, together comprising a further 46%.

In terms of the main importing countries, Iraq, with a CAGR of +14.7%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the import price in Asia amounted to $X per ton, almost unchanged from the previous year. Over the last decade, it increased at an average annual rate of +1.4%. The most prominent rate of growth was recorded in 2017 when the import price increased by 5% against the previous year. The level of import peaked at $X per ton in 2021, and then dropped slightly in the following year.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was the United Arab Emirates ($X per ton), while the Philippines ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Philippines (+9.7%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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