Belarus: Odoriferous Substance Mixture Market 2024

Odoriferous Substance Mixture Market Size in Belarus

The Belarusian odoriferous substance mixture market skyrocketed to $X in 2022, growing by 16% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). The market value increased at an average annual rate of +2.0% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, the market hit record highs in 2022 and is expected to retain growth in years to come.

Odoriferous Substance Mixture Exports

Exports from Belarus

For the third consecutive year, Belarus recorded growth in shipments abroad of mixtures of odoriferous substances and their preparations, which increased by 33% to X tons in 2022. Overall, exports enjoyed a significant expansion. The most prominent rate of growth was recorded in 2016 when exports increased by 517% against the previous year. The exports peaked in 2022 and are likely to see steady growth in years to come.

In value terms, odoriferous substance mixture exports fell remarkably to $X in 2022. Over the period under review, exports recorded a significant expansion. The most prominent rate of growth was recorded in 2016 when exports increased by 425%. The exports peaked at $X in 2021, and then fell rapidly in the following year.

Exports by Country

Russia (X tons) was the main destination for odoriferous substance mixture exports from Belarus, accounting for a 91% share of total exports. Moreover, odoriferous substance mixture exports to Russia exceeded the volume sent to the second major destination, Kazakhstan (X tons), more than tenfold.

From 2012 to 2022, the average annual rate of growth in terms of volume to Russia stood at +41.6%.

In value terms, Russia ($X) remains the key foreign market for mixtures of odoriferous substances and their preparations exports from Belarus, comprising 92% of total exports. The second position in the ranking was taken by Kazakhstan ($X), with a 7.2% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to Russia totaled +36.4%.

Export Prices by Country

In 2022, the average odoriferous substance mixture export price amounted to $X per ton, shrinking by -50.1% against the previous year. Overall, the export price showed a pronounced contraction. The most prominent rate of growth was recorded in 2020 an increase of 40% against the previous year. The export price peaked at $X per ton in 2015; however, from 2016 to 2022, the export prices remained at a lower figure.

Average prices varied noticeably for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Russia ($X per ton), while the average price for exports to Kazakhstan totaled $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Kazakhstan (-2.5%).

Odoriferous Substance Mixture Imports

Imports into Belarus

Odoriferous substance mixture imports into Belarus rose rapidly to X tons in 2022, with an increase of 8.3% on the year before. Over the period under review, total imports indicated a measured expansion from 2012 to 2022: its volume increased at an average annual rate of +4.1% 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 +82.9% against 2015 indices. The pace of growth appeared the most rapid in 2020 when imports increased by 17%. Over the period under review, imports attained the maximum in 2022 and are likely to see steady growth in the near future.

In value terms, odoriferous substance mixture imports surged to $X in 2022. Overall, total imports indicated a perceptible expansion 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 +101.8% against 2015 indices. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2022, France (X tons) constituted the largest odoriferous substance mixture supplier to Belarus, accounting for a 35% share of total imports. Moreover, odoriferous substance mixture imports from France exceeded the figures recorded by the second-largest supplier, Germany (X tons), twofold. Russia (X tons) ranked third in terms of total imports with a 16% share.

From 2012 to 2022, the average annual growth rate of volume from France totaled +4.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+4.9% per year) and Russia (-0.9% per year).

In value terms, France ($X) constituted the largest supplier of mixtures of odoriferous substances and their preparations to Belarus, comprising 36% of total imports. The second position in the ranking was taken by Germany ($X), with a 17% share of total imports. It was followed by Russia, with a 14% share.

From 2012 to 2022, the average annual growth rate of value from France amounted to +3.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+8.4% per year) and Russia (+2.2% per year).

Import Prices by Country

In 2022, the average odoriferous substance mixture import price amounted to $X per ton, picking up by 15% against the previous year. Overall, the import price showed a relatively flat trend pattern. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

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 Switzerland ($X per ton), while the price for Hungary ($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 (+6.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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