Cameroon: Essential Oils Market 2024

Essential Oils Market Size in Cameroon

The Cameroonian essential oils market declined slightly to $X in 2022, dropping by -3% against the previous year. In general, consumption, however, showed a prominent increase. Over the period under review, the market hit record highs at $X in 2016; however, from 2017 to 2022, consumption stood at a somewhat lower figure.

Essential Oils Production in Cameroon

In value terms, essential oils production contracted to $X in 2022 estimated in export price. Over the period under review, production, however, enjoyed a resilient expansion. The growth pace was the most rapid in 2015 when the production volume increased by 150% against the previous year. Essential oils production peaked at $X in 2016; however, from 2017 to 2022, production remained at a lower figure.

Essential Oils Exports

Exports from Cameroon

In 2022, the amount of essential oils exported from Cameroon soared to X kg, increasing by 195% against the year before. Over the period under review, exports continue to indicate a buoyant expansion. The pace of growth was the most pronounced in 2015 with an increase of 418%. The exports peaked at X tons in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

In value terms, essential oils exports soared to $X in 2022. Overall, exports posted a resilient expansion. The most prominent rate of growth was recorded in 2015 when exports increased by 1,047%. Over the period under review, the exports reached the maximum at $X in 2017; however, from 2018 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Denmark (X kg), Singapore (X kg) and France (X kg) were the main destinations of essential oils exports from Cameroon, together comprising 43% of total exports. Slovakia, Canada, Cyprus and the Netherlands lagged somewhat behind, together accounting for a further 8.8%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Slovakia (with a CAGR of +2,000.0%), while the other leaders experienced more modest paces of growth.

In value terms, Singapore ($X) emerged as the key foreign market for essential oils exports from Cameroon, comprising 34% of total exports. The second position in the ranking was taken by Denmark ($X), with a 6.3% share of total exports. It was followed by Slovakia, with a 2.6% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Singapore totaled +90.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Denmark (0.0% per year) and Slovakia (+2,636.0% per year).

Export Prices by Country

In 2022, the average essential oils export price amounted to $X per ton, increasing by 66% against the previous year. In general, the export price continues to indicate a resilient increase. The pace of growth was the most pronounced in 2016 an increase of 508%. As a result, the export price reached the peak level of $X per ton. From 2017 to 2022, the average export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Singapore ($X per ton), while the average price for exports to Cyprus ($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 Canada (+76.7%), while the prices for the other major destinations experienced more modest paces of growth.

Essential Oils Imports

Imports into Cameroon

In 2022, purchases abroad of essential oils decreased by -15.4% to X tons for the first time since 2017, thus ending a four-year rising trend. Overall, imports, however, recorded a remarkable increase. The growth pace was the most rapid in 2018 when imports increased by 382% against the previous year. Imports peaked at X tons in 2021, and then shrank markedly in the following year.

In value terms, essential oils imports rose modestly to $X in 2022. Over the period under review, imports, however, continue to indicate prominent growth. The most prominent rate of growth was recorded in 2018 with an increase of 231%. Over the period under review, imports attained the peak figure in 2022 and are expected to retain growth in the near future.

Imports by Country

In 2022, the United States (X tons) constituted the largest supplier of essential oils to Cameroon, accounting for a 59% share of total imports. Moreover, essential oils imports from the United States exceeded the figures recorded by the second-largest supplier, China (X tons), fourfold. The third position in this ranking was held by France (X tons), with a 6.7% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from the United States amounted to +78.8%. The remaining supplying countries recorded the following average annual rates of imports growth: China (-0.7% per year) and France (+11.9% per year).

In value terms, the United States ($X), France ($X) and China ($X) constituted the largest essential oils suppliers to Cameroon, together accounting for 61% of total imports.

Among the main suppliers, the United States, with a CAGR of +45.4%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

In 2022, the average essential oils import price amounted to $X per ton, rising by 22% against the previous year. Overall, the import price, however, showed a noticeable contraction. The pace of growth appeared the most rapid in 2016 when the average import price increased by 59% against the previous year. The import price peaked 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 France ($X per ton), while the price for the United States ($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 Arab Emirates (+73.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform