Australia: Odoriferous Substance Mixture Market 2024

Odoriferous Substance Mixture Market Size in Australia

The Australian odoriferous substance mixture market rose sharply to $X in 2022, surging by 7% against the previous year. Over the period under review, consumption enjoyed prominent growth. Over the period under review, the market hit record highs at $X in 2020; however, from 2021 to 2022, consumption stood at a somewhat lower figure.

Odoriferous Substance Mixture Production in Australia

In value terms, odoriferous substance mixture production expanded slightly to $X in 2022 estimated in export price. In general, production posted a buoyant expansion. The growth pace was the most rapid in 2018 when the production volume increased by 34% against the previous year. Odoriferous substance mixture production peaked at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

Odoriferous Substance Mixture Exports

Exports from Australia

In 2022, after two years of growth, there was significant decline in shipments abroad of mixtures of odoriferous substances and their preparations, when their volume decreased by -25.8% to X tons. In general, exports continue to indicate a deep setback. The most prominent rate of growth was recorded in 2021 with an increase of 33%. Over the period under review, the exports reached the maximum at X tons in 2013; however, from 2014 to 2022, the exports remained at a lower figure.

In value terms, odoriferous substance mixture exports dropped slightly to $X in 2022. Overall, exports, however, recorded a modest expansion. The growth pace was the most rapid in 2021 with an increase of 24% against the previous year. As a result, the exports attained the peak of $X, and then contracted modestly in the following year.

Exports by Country

New Zealand (X tons), Indonesia (X tons) and Papua New Guinea (X tons) were the main destinations of odoriferous substance mixture exports from Australia, with a combined 47% share of total exports. Singapore, China, Malaysia, Thailand, Bangladesh, South Korea, Sri Lanka, Vietnam, Fiji and Taiwan (Chinese) lagged somewhat behind, together comprising a further 39%.

From 2012 to 2022, the biggest increases were recorded for Bangladesh (with a CAGR of +176.6%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for odoriferous substance mixture exported from Australia were New Zealand ($X), Indonesia ($X) and Papua New Guinea ($X), together comprising 46% of total exports. China, Singapore, Malaysia, Thailand, Bangladesh, Sri Lanka, Vietnam, Fiji, South Korea and Taiwan (Chinese) lagged somewhat behind, together accounting for a further 38%.

In terms of the main countries of destination, Bangladesh, with a CAGR of +184.0%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average odoriferous substance mixture export price stood at $X per ton in 2022, surging by 30% against the previous year. In general, the export price continues to indicate a prominent increase. The pace of growth was the most pronounced in 2018 when the average export price increased by 50% against the previous year. The export price peaked in 2022 and is expected to retain growth in years to come.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was China ($X per ton), while the average price for exports to South Korea ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Papua New Guinea (+10.0%), while the prices for the other major destinations experienced more modest paces of growth.

Odoriferous Substance Mixture Imports

Imports into Australia

In 2022, overseas purchases of mixtures of odoriferous substances and their preparations increased by 7.4% to X tons, rising for the third consecutive year after three years of decline. The total import volume increased at an average annual rate of +1.8% over the period from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2016 with an increase of 17% against the previous year. Imports peaked in 2022 and are likely to see gradual growth in years to come.

In value terms, odoriferous substance mixture imports expanded slightly to $X in 2022. Overall, total imports indicated a measured increase from 2012 to 2022: its value increased at an average annual rate of +4.9% 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 +69.0% against 2015 indices. The pace of growth was the most pronounced in 2021 when imports increased by 16%. Imports peaked in 2022 and are expected to retain growth in years to come.

Imports by Country

Singapore (X tons), the United States (X tons) and the UK (X tons) were the main suppliers of odoriferous substance mixture imports to Australia, together comprising 72% of total imports. Indonesia, Germany, France, Ireland, Trinidad and Tobago and Belgium lagged somewhat behind, together comprising a further 19%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Indonesia (with a CAGR of +48.5%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Singapore ($X) constituted the largest supplier of mixtures of odoriferous substances and their preparations to Australia, comprising 65% of total imports. The second position in the ranking was taken by the United States ($X), with a 12% share of total imports. It was followed by Indonesia, with a 4% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Singapore totaled +18.1%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (-9.9% per year) and Indonesia (+54.2% per year).

Import Prices by Country

The average odoriferous substance mixture import price stood at $X per ton in 2022, with a decrease of -3.1% against the previous year. Overall, import price indicated a tangible expansion from 2012 to 2022: its price increased at an average annual rate of +3.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, odoriferous substance mixture import price increased by +4.4% against 2020 indices. The pace of growth appeared the most rapid in 2018 an increase of 23% against the previous year. Over the period under review, average import prices hit record highs at $X per ton in 2021, and then shrank in the following year.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Singapore ($X per ton), while the price for Ireland ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Trinidad and Tobago (+13.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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