Bahrain: Essential Oils Market 2024

Essential Oils Market Size in Bahrain

In 2022, the Bahraini essential oils market increased by 85% to $X, rising for the second year in a row after five years of decline. Over the period under review, consumption, however, continues to indicate a noticeable slump. Over the period under review, the market attained the peak level at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Essential Oils Production in Bahrain

In value terms, essential oils production shrank to $X in 2022 estimated in export price. In general, production faced a dramatic setback. The most prominent rate of growth was recorded in 2021 with an increase of 19%. Essential oils production peaked at $X in 2018; however, from 2019 to 2022, production remained at a lower figure.

Essential Oils Exports

Exports from Bahrain

After two years of growth, overseas shipments of essential oils decreased by -93.6% to X tons in 2022. Over the period under review, exports, however, continue to indicate a buoyant expansion. The most prominent rate of growth was recorded in 2017 when exports increased by 11,435%. The exports peaked at X tons in 2018; however, from 2019 to 2022, the exports stood at a somewhat lower figure.

In value terms, essential oils exports fell significantly to $X in 2022. In general, exports, however, recorded a significant expansion. The pace of growth was the most pronounced in 2017 with an increase of 11,042%. The exports peaked at $X in 2018; however, from 2019 to 2022, the exports remained at a lower figure.

Exports by Country

The United Arab Emirates (X kg) was the main destination for essential oils exports from Bahrain, with a 70% share of total exports. Moreover, essential oils exports to the United Arab Emirates exceeded the volume sent to the second major destination, Oman (X kg), more than tenfold.

From 2012 to 2022, the average annual growth rate of volume to the United Arab Emirates amounted to +88.9%.

In value terms, the United Arab Emirates ($X) emerged as the key foreign market for essential oils exports from Bahrain, comprising 96% of total exports. The second position in the ranking was held by Oman ($X), with a 0.2% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to the United Arab Emirates amounted to +60.7%.

Export Prices by Country

The average essential oils export price stood at $X per ton in 2022, increasing by 816% against the previous year. Overall, the export price showed a resilient expansion. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

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 the United Arab Emirates ($X per ton), while the average price for exports to Oman totaled $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Free Zones (+2.8%), while the prices for the other major destinations experienced a decline.

Essential Oils Imports

Imports into Bahrain

In 2022, approx. X tons of essential oils were imported into Bahrain; growing by 53% compared with 2021. Overall, imports, however, saw a abrupt contraction. Imports peaked at X tons in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

In value terms, essential oils imports soared to $X in 2022. Over the period under review, imports, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 with an increase of 76%. Over the period under review, imports hit record highs at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, the United Arab Emirates (X tons) constituted the largest essential oils supplier to Bahrain, with a 78% share of total imports. Moreover, essential oils imports from the United Arab Emirates exceeded the figures recorded by the second-largest supplier, Pakistan (X tons), more than tenfold. The third position in this ranking was taken by India (X tons), with a 3.9% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from the United Arab Emirates totaled +45.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Pakistan (+58.6% per year) and India (+3.3% per year).

In value terms, the United Arab Emirates ($X) constituted the largest supplier of essential oils to Bahrain, comprising 73% of total imports. The second position in the ranking was held by Thailand ($X), with a 12% share of total imports. It was followed by India, with a 2.9% share.

From 2012 to 2022, the average annual growth rate of value from the United Arab Emirates amounted to +47.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Thailand (-2.8% per year) and India (+3.6% per year).

Import Prices by Country

The average essential oils import price stood at $X per ton in 2022, reducing by -14.4% against the previous year. In general, the import price, however, posted a buoyant expansion. The most prominent rate of growth was recorded in 2018 an increase of 87% against the previous year. Over the period under review, average import prices reached the maximum at $X per ton in 2016; however, from 2017 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Thailand ($X per ton), while the price for Pakistan ($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 United States (+20.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform