Croatia: Essential Oils Market 2024

Essential Oils Market Size in Croatia

The Croatian essential oils market reduced remarkably to $X in 2022, falling by -95% against the previous year. Overall, consumption faced a dramatic shrinkage. As a result, consumption reached the peak level of $X. From 2021 to 2022, the growth of the market failed to regain momentum.

Essential Oils Production in Croatia

In value terms, essential oils production fell markedly to $X in 2022 estimated in export price. Over the period under review, production continues to indicate a deep reduction. The most prominent rate of growth was recorded in 2014 when the production volume increased by 175%. As a result, production attained the peak level of $X. From 2015 to 2022, production growth remained at a somewhat lower figure.

Essential Oils Exports

Exports from Croatia

In 2022, after two years of growth, there was significant decline in shipments abroad of essential oils, when their volume decreased by -8.8% to X tons. Over the period under review, exports, however, showed a significant expansion. The most prominent rate of growth was recorded in 2018 with an increase of 258%. Over the period under review, the exports attained the peak figure at X tons in 2021, and then reduced in the following year.

In value terms, essential oils exports contracted markedly to $X in 2022. Overall, exports, however, enjoyed significant growth. The pace of growth appeared the most rapid in 2014 when exports increased by 468%. Over the period under review, the exports attained the peak figure at $X in 2021, and then declined markedly in the following year.

Exports by Country

The Netherlands (X tons), Austria (X tons) and Romania (X tons) were the main destinations of essential oils exports from Croatia, together accounting for 82% of total exports. Lithuania, the United States, Poland, the Czech Republic, Bosnia and Herzegovina, Slovenia and Serbia lagged somewhat behind, together comprising a further 14%.

From 2012 to 2022, the biggest increases were recorded for the Czech Republic (with a CAGR of +129.1%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for essential oils exported from Croatia were Austria ($X), the Netherlands ($X) and the United States ($X), together accounting for 72% of total exports. Romania, Lithuania, Poland, the Czech Republic, Slovenia, Bosnia and Herzegovina and Serbia lagged somewhat behind, together accounting for a further 23%.

The Czech Republic, with a CAGR of +188.7%, recorded the highest growth rate of the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average essential oils export price amounted to $X per ton, waning by -28% against the previous year. Overall, the export price, however, enjoyed tangible growth. The most prominent rate of growth was recorded in 2014 when the average export price increased by 257% against the previous year. The export price peaked at $X per ton in 2017; however, from 2018 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to the Netherlands ($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 Poland (+45.8%), while the prices for the other major destinations experienced more modest paces of growth.

Essential Oils Imports

Imports into Croatia

In 2022, supplies from abroad of essential oils decreased by -57% to X tons, falling for the second year in a row after five years of growth. Overall, imports, however, showed buoyant growth. The growth pace was the most rapid in 2017 with an increase of 233%. Imports peaked at X tons in 2020; however, from 2021 to 2022, imports stood at a somewhat lower figure.

In value terms, essential oils imports dropped sharply to $X in 2022. Over the period under review, imports, however, recorded a resilient increase. The pace of growth appeared the most rapid in 2018 with an increase of 147%. Over the period under review, imports reached the peak figure at $X in 2020; however, from 2021 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, the Netherlands (X tons) constituted the largest essential oils supplier to Croatia, with a 31% share of total imports. Moreover, essential oils imports from the Netherlands exceeded the figures recorded by the second-largest supplier, Spain (X tons), twofold. Germany (X tons) ranked third in terms of total imports with a 12% share.

From 2012 to 2022, the average annual growth rate of volume from the Netherlands stood at +179.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Spain (+7.9% per year) and Germany (+6.0% per year).

In value terms, the largest essential oils suppliers to Croatia were the Netherlands ($X), the United States ($X) and Germany ($X), with a combined 61% share of total imports.

Among the main suppliers, the Netherlands, with a CAGR of +175.1%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average essential oils import price stood at $X per ton in 2022, which is down by -28.6% against the previous year. Overall, the import price, however, showed a remarkable increase. The growth pace was the most rapid in 2018 when the average import price increased by 125% against the previous year. The import price peaked at $X per ton in 2020; however, from 2021 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United States ($X per ton), while the price for Italy ($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 States (+18.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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