Azerbaijan: Perfume Market 2024

Perfume Market Size in Azerbaijan

In 2022, the Azerbaijani perfume market increased by 9.7% to $X, rising for the second consecutive year after two years of decline. In general, consumption recorded resilient growth. Perfume consumption peaked at $X in 2018; however, from 2019 to 2022, consumption remained at a lower figure.

Perfume Exports

Exports from Azerbaijan

For the fourth year in a row, Azerbaijan recorded growth in shipments abroad of perfumes and toilet waters, which increased by 79% to X tons in 2022. In general, exports recorded significant growth. The growth pace was the most rapid in 2015 when exports increased by 746%. Over the period under review, the exports reached the maximum in 2022 and are expected to retain growth in the near future.

In value terms, perfume exports skyrocketed to $X in 2022. Overall, exports continue to indicate significant growth. The growth pace was the most rapid in 2015 when exports increased by 1,205% against the previous year. The exports peaked in 2022 and are expected to retain growth in the near future.

Exports by Country

The United Arab Emirates (X tons) was the main destination for perfume exports from Azerbaijan, with a 64% share of total exports. Moreover, perfume exports to the United Arab Emirates exceeded the volume sent to the second major destination, the United States (X tons), threefold. The third position in this ranking was held by Kuwait (X tons), with an 8% share.

From 2012 to 2022, the average annual growth rate of volume to the United Arab Emirates stood at +75.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+499.5% per year) and Kuwait (+4,203.3% per year).

In value terms, the United Arab Emirates ($X) remains the key foreign market for perfumes and toilet waters exports from Azerbaijan, comprising 67% of total exports. The second position in the ranking was taken by the United States ($X), with a 29% share of total exports. It was followed by Kyrgyzstan, with a 1.6% share.

From 2012 to 2022, the average annual rate of growth in terms of value to the United Arab Emirates stood at +81.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+1,581.0% per year) and Kyrgyzstan (+15.8% per year).

Export Prices by Country

The average perfume export price stood at $X per ton in 2022, growing by 102% against the previous year. Over the period under review, the export price recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 an increase of 364%. As a result, the export price attained the peak level of $X per ton. From 2019 to 2022, the average export prices remained at a somewhat lower figure.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to Turkmenistan ($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 the United States (+180.4%), while the prices for the other major destinations experienced mixed trend patterns.

Perfume Imports

Imports into Azerbaijan

In 2022, after three years of decline, there was significant growth in supplies from abroad of perfumes and toilet waters, when their volume increased by 6.4% to X tons. Over the period under review, imports showed a strong expansion. The growth pace was the most rapid in 2016 when imports increased by 582% against the previous year. Over the period under review, imports hit record highs at X tons in 2018; however, from 2019 to 2022, imports failed to regain momentum.

In value terms, perfume imports skyrocketed to $X in 2022. In general, imports recorded a buoyant expansion. The most prominent rate of growth was recorded in 2016 with an increase of 679%. Over the period under review, imports attained the maximum in 2022 and are expected to retain growth in the immediate term.

Imports by Country

In 2022, China (X tons) constituted the largest perfume supplier to Azerbaijan, accounting for a 35% share of total imports. Moreover, perfume imports from China exceeded the figures recorded by the second-largest supplier, Russia (X tons), twofold. The third position in this ranking was held by the United Arab Emirates (X tons), with a 13% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China amounted to +250.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Russia (+5.2% per year) and the United Arab Emirates (+8.2% per year).

In value terms, France ($X) constituted the largest supplier of perfumes and toilet waters to Azerbaijan, comprising 40% of total imports. The second position in the ranking was taken by Italy ($X), with a 10% share of total imports. It was followed by Russia, with a 9.3% share.

From 2012 to 2022, the average annual growth rate of value from France stood at +61.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+33.0% per year) and Russia (+16.9% per year).

Import Prices by Country

In 2022, the average perfume import price amounted to $X per ton, growing by 8.7% against the previous year. Overall, the import price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 an increase of 52% against the previous year. The import price peaked at $X per ton in 2013; however, from 2014 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Switzerland ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Switzerland (+26.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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