Canada: Odoriferous Substance Mixture Market 2024

Odoriferous Substance Mixture Market Size in Canada

The Canadian odoriferous substance mixture market expanded significantly to $X in 2022, surging by 11% against the previous year. Overall, consumption, however, posted a resilient increase. Over the period under review, the market reached the maximum level in 2022 and is likely to see gradual growth in the near future.

Odoriferous Substance Mixture Production in Canada

In value terms, odoriferous substance mixture production rose markedly to $X in 2022 estimated in export price. Over the period under review, production enjoyed strong growth. The pace of growth appeared the most rapid in 2019 with an increase of 150% against the previous year. Over the period under review, production reached the maximum level at $X in 2017; however, from 2018 to 2022, production stood at a somewhat lower figure.

Odoriferous Substance Mixture Exports

Exports from Canada

For the sixth year in a row, Canada recorded growth in shipments abroad of mixtures of odoriferous substances and their preparations, which increased by 0.1% to X tons in 2022. Over the period under review, exports posted a strong expansion. The most prominent rate of growth was recorded in 2019 with an increase of 49% 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 expanded sharply to $X in 2022. In general, exports posted a prominent expansion. The most prominent rate of growth was recorded in 2017 when exports increased by 24% against the previous year. Over the period under review, the exports hit record highs in 2022 and are expected to retain growth in the near future.

Exports by Country

The United States (X tons) was the main destination for odoriferous substance mixture exports from Canada, accounting for a approx. 99% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of volume to the United States totaled +14.6%.

In value terms, the United States ($X) also remains the key foreign market for mixtures of odoriferous substances and their preparations exports from Canada.

From 2012 to 2022, the average annual rate of growth in terms of value to the United States totaled +8.3%.

Export Prices by Country

In 2022, the average odoriferous substance mixture export price amounted to $X per ton, with an increase of 8.5% against the previous year. Over the period under review, the export price, however, continues to indicate a pronounced curtailment. The most prominent rate of growth was recorded in 2016 when the average export price increased by 45% against the previous year. Over the period under review, the average export prices hit record highs at $X per ton in 2017; however, from 2018 to 2022, the export prices failed to regain momentum.

As there is only one major export destination, the average price level is determined by prices for the United States.

From 2012 to 2022, the rate of growth in terms of prices for the United States amounted to -5.4% per year.

Odoriferous Substance Mixture Imports

Imports into Canada

In 2022, purchases abroad of mixtures of odoriferous substances and their preparations decreased by -17.3% to X tons for the first time since 2019, thus ending a two-year rising trend. Over the period under review, imports, however, continue to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2020 with an increase of 21% against the previous year. Imports peaked at X tons in 2021, and then dropped dramatically in the following year.

In value terms, odoriferous substance mixture imports fell slightly to $X in 2022. Overall, total imports indicated a resilient increase from 2012 to 2022: its value increased at an average annual rate of +5.9% 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 +84.2% against 2013 indices. The most prominent rate of growth was recorded in 2021 with an increase of 31%. As a result, imports reached the peak of $X, and then shrank slightly in the following year.

Imports by Country

In 2022, the United States (X tons) constituted the largest supplier of odoriferous substance mixture to Canada, with a 84% share of total imports. Moreover, odoriferous substance mixture imports from the United States exceeded the figures recorded by the second-largest supplier, the UK (X tons), more than tenfold.

From 2012 to 2022, the average annual growth rate of volume from the United States was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: the UK (+10.1% per year) and Ireland (+15.8% per year).

In value terms, the United States ($X) constituted the largest supplier of mixtures of odoriferous substances and their preparations to Canada, comprising 86% of total imports. The second position in the ranking was taken by Ireland ($X), with a 7% share of total imports.

From 2012 to 2022, the average annual growth rate of value from the United States stood at +5.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Ireland (+30.5% per year) and the UK (+5.2% per year).

Import Prices by Country

In 2022, the average odoriferous substance mixture import price amounted to $X per ton, jumping by 17% against the previous year. Over the last decade, it increased at an average annual rate of +5.4%. The pace of growth appeared the most rapid in 2014 when the average import price increased by 24%. Over the period under review, average import prices attained the maximum in 2022 and is likely to see steady growth in years to come.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Ireland ($X per ton), while the price for the UK ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Ireland (+12.7%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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