Benelux: Essential Oils Market 2024

Essential Oils Market Size in Benelux

The Benelux essential oils market contracted sharply to $X in 2022, waning by -45.8% against the previous year. In general, consumption, however, recorded a relatively flat trend pattern. As a result, consumption reached the peak level of $X. From 2014 to 2022, the growth of the market remained at a somewhat lower figure.

Essential Oils Production in Benelux

In value terms, essential oils production totaled $X in 2022 estimated in export price. In general, production saw a precipitous slump. The growth pace was the most rapid in 2013 when the production volume increased by 1,035%. As a result, production attained the peak level of $X. From 2014 to 2022, production growth remained at a lower figure.

Essential Oils Exports

Exports in Benelux

After seven years of growth, overseas shipments of essential oils decreased by -65.8% to X tons in 2022. In general, exports, however, showed a strong increase. The most prominent rate of growth was recorded in 2020 with an increase of 194%. The volume of export peaked at X tons in 2021, and then shrank remarkably in the following year.

In value terms, essential oils exports contracted rapidly to $X in 2022. Over the period under review, exports, however, posted resilient growth. The growth pace was the most rapid in 2020 when exports increased by 183% against the previous year. Over the period under review, the exports attained the maximum at $X in 2021, and then declined remarkably in the following year.

Exports by Country

The Netherlands dominates exports structure, accounting for X tons, which was near 94% of total exports in 2022. It was distantly followed by Belgium (X tons), making up a 5.6% share of total exports.

The Netherlands was also the fastest-growing in terms of the essential oils exports, with a CAGR of +22.9% from 2012 to 2022. Belgium (-15.3%) illustrated a downward trend over the same period. From 2012 to 2022, the share of the Netherlands increased by +65 percentage points.

In value terms, the Netherlands ($X) remains the largest essential oils supplier in Benelux, comprising 93% of total exports. The second position in the ranking was taken by Belgium ($X), with a 7.3% share of total exports.

In the Netherlands, essential oils exports increased at an average annual rate of +23.8% over the period from 2012-2022.

Export Prices by Country

In 2022, the export price in Benelux amounted to $X per ton, rising by 25% against the previous year. Export price indicated a temperate expansion from 2012 to 2022: its price increased at an average annual rate of +4.3% 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 2014 an increase of 65%. Over the period under review, the export prices attained the peak figure at $X per ton in 2017; however, from 2018 to 2022, the export prices remained at a lower figure.

Average prices varied somewhat amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Belgium ($X per ton), while the Netherlands stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Belgium (+9.1%).

Essential Oils Imports

Imports in Benelux

After seven years of growth, purchases abroad of essential oils decreased by -56.1% to X tons in 2022. Over the period under review, imports, however, recorded buoyant growth. The most prominent rate of growth was recorded in 2020 with an increase of 120%. The volume of import peaked at X tons in 2021, and then dropped markedly in the following year.

In value terms, essential oils imports contracted markedly to $X in 2022. Overall, imports, however, continue to indicate a prominent increase. The most prominent rate of growth was recorded in 2020 with an increase of 74%. Over the period under review, imports reached the maximum at $X in 2021, and then contracted sharply in the following year.

Imports by Country

The Netherlands was the largest importer of essential oils in Benelux, with the volume of imports amounting to X tons, which was approx. 88% of total imports in 2022. It was distantly followed by Belgium (X tons), mixing up a 12% share of total imports.

The Netherlands was also the fastest-growing in terms of the essential oils imports, with a CAGR of +11.8% from 2012 to 2022. Belgium (-6.5%) illustrated a downward trend over the same period. While the share of the Netherlands (+32 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Belgium (-32.3 p.p.) displayed negative dynamics.

In value terms, the Netherlands ($X) constitutes the largest market for imported essential oils in Benelux, comprising 88% of total imports. The second position in the ranking was taken by Belgium ($X), with an 11% share of total imports.

In the Netherlands, essential oils imports expanded at an average annual rate of +11.3% over the period from 2012-2022.

Import Prices by Country

The import price in Benelux stood at $X per ton in 2022, increasing by 15% against the previous year. Over the period under review, the import price, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 when the import price increased by 25%. As a result, import price attained the peak level of $X per ton. From 2019 to 2022, the import prices failed to regain momentum.

Average prices varied noticeably amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was the Netherlands ($X per ton), while Belgium stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Netherlands (-0.5%).

Source: IndexBox Platform