Belgium: Odoriferous Substance Mixture Market 2024

Odoriferous Substance Mixture Market Size in Belgium

In 2022, the Belgian odoriferous substance mixture market decreased by -71.2% to $X, falling for the second consecutive year after seven years of growth. In general, consumption continues to indicate a relatively flat trend pattern. Odoriferous substance mixture consumption peaked at $X in 2020; however, from 2021 to 2022, consumption failed to regain momentum.

Odoriferous Substance Mixture Production in Belgium

In value terms, odoriferous substance mixture production declined sharply to $X in 2022 estimated in export price. Overall, production faced a precipitous slump. The pace of growth appeared the most rapid in 2021 when the production volume increased by 5.8% against the previous year. As a result, production reached the peak level of $X, and then shrank dramatically in the following year.

Odoriferous Substance Mixture Exports

Exports from Belgium

After two years of growth, overseas shipments of mixtures of odoriferous substances and their preparations decreased by -44.1% to X tons in 2022. In general, exports saw a abrupt downturn. The growth pace was the most rapid in 2020 with an increase of 49%. The exports peaked at X tons in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, odoriferous substance mixture exports contracted rapidly to $X in 2022. Overall, exports showed a abrupt downturn. The growth pace was the most rapid in 2020 when exports increased by 51%. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

France (X tons) was the main destination for odoriferous substance mixture exports from Belgium, accounting for a 33% share of total exports. Moreover, odoriferous substance mixture exports to France exceeded the volume sent to the second major destination, the Netherlands (X tons), threefold. The third position in this ranking was taken by the UK (X tons), with a 7.3% share.

From 2012 to 2022, the average annual growth rate of volume to France amounted to -4.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Netherlands (-8.5% per year) and the UK (-3.7% per year).

In value terms, France ($X) remains the key foreign market for mixtures of odoriferous substances and their preparations exports from Belgium, comprising 29% of total exports. The second position in the ranking was taken by the UK ($X), with a 9.3% share of total exports. It was followed by the Netherlands, with an 8.3% share.

From 2012 to 2022, the average annual growth rate of value to France totaled -1.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: the UK (+1.1% per year) and the Netherlands (-7.4% per year).

Export Prices by Country

In 2022, the average odoriferous substance mixture export price amounted to $X per ton, with a decrease of -5.1% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.2%. The pace of growth appeared the most rapid in 2016 an increase of 25%. The export price peaked at $X per ton in 2018; however, from 2019 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Turkey ($X per ton), while the average price for exports to Cameroon ($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 UK (+5.0%), while the prices for the other major destinations experienced more modest paces of growth.

Odoriferous Substance Mixture Imports

Imports into Belgium

In 2022, odoriferous substance mixture imports into Belgium dropped to X tons, which is down by -10% on the previous year. Overall, imports, however, saw buoyant growth. The most prominent rate of growth was recorded in 2016 with an increase of 42% against the previous year. Imports peaked at X tons in 2021, and then shrank in the following year.

In value terms, odoriferous substance mixture imports fell to $X in 2022. In general, total imports indicated tangible growth from 2012 to 2022: its value increased at an average annual rate of +3.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2017 with an increase of 24%. Imports peaked at $X in 2021, and then fell in the following year.

Imports by Country

France (X tons), Ireland (X tons) and the Netherlands (X tons) were the main suppliers of odoriferous substance mixture imports to Belgium, with a combined 69% share of total imports. Germany, Hungary, Spain, Sweden, the United States and the UK lagged somewhat behind, together comprising a further 29%.

From 2012 to 2022, the biggest increases were recorded for Hungary (with a CAGR of +24.7%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Ireland ($X) constituted the largest supplier of mixtures of odoriferous substances and their preparations to Belgium, comprising 54% of total imports. The second position in the ranking was taken by the Netherlands ($X), with a 14% share of total imports. It was followed by France, with a 14% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Ireland totaled +4.9%. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (+3.7% per year) and France (+4.9% per year).

Import Prices by Country

The average odoriferous substance mixture import price stood at $X per ton in 2022, surging by 4.4% against the previous year. Over the period under review, the import price, however, saw a perceptible shrinkage. The most prominent rate of growth was recorded in 2020 an increase of 26% against the previous year. Over the period under review, average import prices attained the peak figure at $X per ton in 2013; however, from 2014 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Ireland ($X per ton), while the price for Sweden ($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 (+14.3%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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