Asia-Pacific: Odoriferous Substance Mixture Market 2024

Odoriferous Substance Mixture Market Size in Asia-Pacific

The Asia-Pacific odoriferous substance mixture market expanded to $X in 2022, growing by 1.9% against the previous year. The market value increased at an average annual rate of +3.3% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The level of consumption peaked at $X in 2018; however, from 2019 to 2022, consumption failed to regain momentum.

Odoriferous Substance Mixture Production in Asia-Pacific

In value terms, odoriferous substance mixture production expanded slightly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +2.7% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2018 when the production volume increased by 27% against the previous year. As a result, production attained the peak level of $X. From 2019 to 2022, production growth remained at a lower figure.

Odoriferous Substance Mixture Exports

Exports in Asia-Pacific

Odoriferous substance mixture exports amounted to X tons in 2022, with an increase of 5.2% on the previous year's figure. Total exports indicated buoyant growth from 2012 to 2022: its volume 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, exports increased by +66.8% against 2012 indices. The most prominent rate of growth was recorded in 2021 with an increase of 8.5%. The volume of export peaked in 2022 and is expected to retain growth in years to come.

In value terms, odoriferous substance mixture exports expanded slightly to $X in 2022. Total exports indicated measured growth from 2012 to 2022: its value increased at an average annual rate of +3.2% 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 +77.3% against 2015 indices. The pace of growth appeared the most rapid in 2018 when exports increased by 21%. Over the period under review, the exports attained the peak figure in 2022 and are expected to retain growth in years to come.

Exports by Country

Singapore represented the main exporter of mixtures of odoriferous substances and their preparations in Asia-Pacific, with the volume of exports finishing at X tons, which was approx. 44% of total exports in 2022. China (X tons) held a 16% share (based on physical terms) of total exports, which put it in second place, followed by India (13%) and Indonesia (9.8%). The following exporters - Thailand (X tons), Japan (X tons) and Hong Kong SAR (X tons) - together made up 10% of total exports.

Exports from Singapore increased at an average annual rate of +4.3% from 2012 to 2022. At the same time, Indonesia (+14.9%), Thailand (+8.8%), India (+8.1%), China (+5.4%) and Hong Kong SAR (+1.2%) displayed positive paces of growth. Moreover, Indonesia emerged as the fastest-growing exporter exported in Asia-Pacific, with a CAGR of +14.9% from 2012-2022. By contrast, Japan (-2.0%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Indonesia and India increased by +5.7 and +3 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Singapore ($X) remains the largest odoriferous substance mixture supplier in Asia-Pacific, comprising 54% of total exports. The second position in the ranking was held by China ($X), with a 10% share of total exports. It was followed by India, with a 9.3% share.

In Singapore, odoriferous substance mixture exports increased 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-Pacific amounted to $X per ton, which is down by -1.7% against the previous year. Over the period under review, the export price saw a mild shrinkage. The growth pace was the most rapid in 2018 when the export price increased by 13% against the previous year. Over the period under review, the export prices hit record highs at $X per ton in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2022, 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-Pacific

In 2022, the amount of mixtures of odoriferous substances and their preparations imported in Asia-Pacific rose to X tons, surging by 3.8% against the year before. The total import volume increased at an average annual rate of +3.0% from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations in certain years. The growth pace was the most rapid in 2014 with an increase of 11% against the previous year. Over the period under review, imports attained the maximum in 2022 and are likely to continue growth in the immediate term.

In value terms, odoriferous substance mixture imports reached $X in 2022. Total imports indicated a noticeable increase from 2012 to 2022: its value increased at an average annual rate of +4.8% 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 +59.5% against 2012 indices. The most prominent rate of growth was recorded in 2021 with an increase of 12%. Over the period under review, imports reached the peak figure in 2022 and are likely to see gradual growth in the immediate term.

Imports by Country

The purchases of the five major importers of mixtures of odoriferous substances and their preparations, namely Thailand, the Philippines, Indonesia, Vietnam and China, represented more than half of total import. It was distantly followed by Japan (X tons), committing a 5.5% share of total imports. The following importers - Malaysia (X tons), Singapore (X tons), Bangladesh (X tons), South Korea (X tons), India (X tons), Taiwan (Chinese) (X tons) and Pakistan (X tons) - together made up 24% 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 Bangladesh (with a CAGR of +9.1%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest odoriferous substance mixture importing markets in Asia-Pacific were Thailand ($X), China ($X) and Indonesia ($X), together comprising 36% of total imports. Vietnam, the Philippines, Japan, South Korea, India, Singapore, Malaysia, Taiwan (Chinese), Bangladesh and Pakistan lagged somewhat behind, together accounting for a further 53%.

Bangladesh, with a CAGR of +12.1%, saw the highest growth rate of the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in Asia-Pacific stood at $X per ton in 2022, declining by -2.7% against the previous year. Over the last decade, it increased at an average annual rate of +1.7%. The pace of growth was the most pronounced in 2017 an increase of 6.7%. Over the period under review, import prices reached the maximum at $X per ton in 2021, and then contracted in the following year.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was South Korea ($X per ton), while the Philippines ($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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