CIS: Odoriferous Substance Mixture Market 2024

Odoriferous Substance Mixture Market Size in CIS

In 2022, the CIS odoriferous substance mixture market increased by 0.2% to $X, rising for the sixth year in a row after two years of decline. The total consumption indicated resilient growth from 2012 to 2022: its value increased at an average annual rate of +5.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +93.2% against 2016 indices. Over the period under review, the market reached the peak level in 2022 and is likely to see steady growth in years to come.

Odoriferous Substance Mixture Production in CIS

In value terms, odoriferous substance mixture production fell to $X in 2022 estimated in export price. Overall, production, however, posted a buoyant increase. The pace of growth appeared the most rapid in 2014 with an increase of 62% against the previous year. The level of production peaked at $X in 2018; however, from 2019 to 2022, production failed to regain momentum.

Odoriferous Substance Mixture Exports

Exports in CIS

In 2022, approx. X tons of mixtures of odoriferous substances and their preparations were exported in the CIS; jumping by 29% on the year before. In general, exports saw resilient growth. The growth pace was the most rapid in 2016 when exports increased by 39%. The volume of export peaked in 2022 and is expected to retain growth in the immediate term.

In value terms, odoriferous substance mixture exports declined slightly to $X in 2022. Over the period under review, exports posted a strong increase. The most prominent rate of growth was recorded in 2018 when exports increased by 51% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2021, and then reduced modestly in the following year.

Exports by Country

Russia represented the key exporting country with an export of about X tons, which finished at 54% of total exports. Moldova (X tons) ranks second in terms of the total exports with a 30% share, followed by Belarus (12%). The following exporters - Uzbekistan (X tons) and Kazakhstan (X tons) - each amounted to a 3.9% share of total exports.

From 2012 to 2022, the biggest increases were recorded for Uzbekistan (with a CAGR of +336.4%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Russia ($X) remains the largest odoriferous substance mixture supplier in the CIS, comprising 82% of total exports. The second position in the ranking was held by Belarus ($X), with a 7.8% share of total exports. It was followed by Kazakhstan, with a 5.5% share.

In Russia, odoriferous substance mixture exports expanded at an average annual rate of +12.3% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Belarus (+32.4% per year) and Kazakhstan (+31.7% per year).

Export Prices by Country

The export price in the CIS stood at $X per ton in 2022, reducing by -25.9% against the previous year. Export price indicated a mild expansion from 2012 to 2022: its price increased at an average annual rate of +1.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2017 when the export price increased by 31% against the previous year. Over the period under review, the export prices attained the maximum at $X per ton in 2021, and then fell remarkably in the following year.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Kazakhstan ($X per ton), while Moldova ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Kazakhstan (+11.9%), while the other leaders experienced more modest paces of growth.

Odoriferous Substance Mixture Imports

Imports in CIS

In 2022, after five years of growth, there was decline in overseas purchases of mixtures of odoriferous substances and their preparations, when their volume decreased by -1.4% to X tons. Total imports indicated tangible growth from 2012 to 2022: its volume increased at an average annual rate of +3.7% 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 +54.5% against 2016 indices. The growth pace was the most rapid in 2017 with an increase of 12% against the previous year. The volume of import peaked at X tons in 2021, and then shrank in the following year.

In value terms, odoriferous substance mixture imports totaled $X in 2022. In general, imports, however, enjoyed resilient growth. The most prominent rate of growth was recorded in 2017 when imports increased by 26% against the previous year. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in the immediate term.

Imports by Country

In 2022, Russia (X tons) was the largest importer of mixtures of odoriferous substances and their preparations, mixing up 69% of total imports. Uzbekistan (X tons) held the second position in the ranking, followed by Kazakhstan (X tons). All these countries together took near 20% share of total imports. Belarus (X tons), Azerbaijan (X tons) and Kyrgyzstan (X tons) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to odoriferous substance mixture imports into Russia stood at +1.4%. At the same time, Uzbekistan (+21.5%), Azerbaijan (+15.4%), Kazakhstan (+8.6%), Kyrgyzstan (+7.9%) and Belarus (+4.1%) displayed positive paces of growth. Moreover, Uzbekistan emerged as the fastest-growing importer imported in the CIS, with a CAGR of +21.5% from 2012-2022. Uzbekistan (+11 p.p.), Kazakhstan (+3.2 p.p.) and Azerbaijan (+2 p.p.) significantly strengthened its position in terms of the total imports, while Russia saw its share reduced by -17.6% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Russia ($X) constitutes the largest market for imported mixtures of odoriferous substances and their preparations in the CIS, comprising 68% of total imports. The second position in the ranking was held by Uzbekistan ($X), with a 12% share of total imports. It was followed by Kazakhstan, with an 11% share.

From 2012 to 2022, the average annual growth rate of value in Russia totaled +3.4%. The remaining importing countries recorded the following average annual rates of imports growth: Uzbekistan (+27.5% per year) and Kazakhstan (+11.9% per year).

Import Prices by Country

In 2022, the import price in the CIS amounted to $X per ton, increasing by 2% against the previous year. Over the last decade, it increased at an average annual rate of +2.2%. The pace of growth was the most pronounced in 2017 an increase of 13% against the previous year. Over the period under review, import prices reached the peak figure in 2022 and is likely to see steady growth in years to come.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Kazakhstan ($X per ton), while Kyrgyzstan ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Uzbekistan (+4.9%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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