Benelux: Odoriferous Substance Mixture Market 2024

Odoriferous Substance Mixture Market Size in Benelux

In 2022, the Benelux odoriferous substance mixture market decreased by -59.9% to $X, falling for the second consecutive year after seven years of growth. In general, consumption saw a mild curtailment. The level of consumption peaked at $X in 2020; however, from 2021 to 2022, consumption stood at a somewhat lower figure.

Odoriferous Substance Mixture Production in Benelux

In value terms, odoriferous substance mixture production fell to $X in 2022 estimated in export price. Overall, production, however, showed significant growth. The most prominent rate of growth was recorded in 2014 when the production volume increased by 840%. Over the period under review, production hit record highs at $X in 2017; however, from 2018 to 2022, production stood at a somewhat lower figure.

Odoriferous Substance Mixture Exports

Exports in Benelux

In 2022, shipments abroad of mixtures of odoriferous substances and their preparations decreased by -8.6% to X tons for the first time since 2019, thus ending a two-year rising trend. In general, exports, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2020 with an increase of 21% against the previous year. Over the period under review, the exports hit record highs at X tons in 2021, and then declined in the following year.

In value terms, odoriferous substance mixture exports dropped to $X in 2022. The total export value increased at an average annual rate of +2.6% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2021 when exports increased by 18%. As a result, the exports reached the peak of $X, and then shrank in the following year.

Exports by Country

The Netherlands was the largest exporter of mixtures of odoriferous substances and their preparations in Benelux, with the volume of exports resulting at X tons, which was near 86% of total exports in 2022. It was distantly followed by Belgium (X tons), constituting a 14% share of total exports.

The Netherlands was also the fastest-growing in terms of the mixtures of odoriferous substances and their preparations exports, with a CAGR of +3.5% from 2012 to 2022. Belgium (-7.7%) illustrated a downward trend over the same period. The Netherlands (+20 p.p.) significantly strengthened its position in terms of the total exports, while Belgium saw its share reduced by -19.7% from 2012 to 2022, respectively.

In value terms, the Netherlands ($X) remains the largest odoriferous substance mixture supplier in Benelux, comprising 93% of total exports. The second position in the ranking was taken by Belgium ($X), with a 7.4% share of total exports.

From 2012 to 2022, the average annual growth rate of value in the Netherlands stood at +3.9%.

Export Prices by Country

The export price in Benelux stood at $X per ton in 2022, remaining relatively unchanged against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.7%. The pace of growth appeared the most rapid in 2017 when the export price increased by 12% against the previous year. The level of export peaked at $X per ton in 2018; however, from 2019 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, 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 Belgium (+1.2%).

Odoriferous Substance Mixture Imports

Imports in Benelux

In 2022, odoriferous substance mixture imports in Benelux rose slightly to X tons, with an increase of 1.9% on 2021. Total imports indicated temperate growth from 2012 to 2022: its volume increased at an average annual rate of +2.5% 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 +91.1% against 2015 indices. The most prominent rate of growth was recorded in 2016 with an increase of 27% against the previous year. Over the period under review, imports reached the maximum in 2022 and are expected to retain growth in the immediate term.

In value terms, odoriferous substance mixture imports contracted to $X in 2022. Total imports indicated a pronounced increase from 2012 to 2022: its value 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 +76.1% against 2015 indices. The pace of growth was the most pronounced in 2017 with an increase of 19% against the previous year. Over the period under review, imports reached the peak figure at $X in 2021, and then contracted in the following year.

Imports by Country

The Netherlands was the major importing country with an import of around X tons, which finished at 60% of total imports. It was distantly followed by Belgium (X tons), generating a 40% share of total imports.

From 2012 to 2022, the biggest increases were recorded for Belgium (with a CAGR of +5.9%).

In value terms, the Netherlands ($X) and Belgium ($X) constituted the countries with the highest levels of imports in 2022.

In terms of the main importing countries, the Netherlands, with a CAGR of +4.7%, saw the highest growth rate of the value of imports, over the period under review.

Import Prices by Country

In 2022, the import price in Benelux amounted to $X per ton, dropping by -8.3% against the previous year. Over the last decade, it increased at an average annual rate of +1.6%. The most prominent rate of growth was recorded in 2014 an increase of 17% against the previous year. The level of import peaked at $X per ton in 2020; however, from 2021 to 2022, 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 Belgium ($X per ton), while the Netherlands totaled $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Netherlands (+3.9%).

Source: IndexBox Platform