Croatia: Odoriferous Substance Mixture Market 2024

Odoriferous Substance Mixture Market Size in Croatia

The Croatian odoriferous substance mixture market rose to $X in 2022, growing by 4.6% against the previous year. The market value increased at an average annual rate of +2.8% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Odoriferous substance mixture consumption peaked in 2022 and is expected to retain growth in the near future.

Odoriferous Substance Mixture Production in Croatia

In value terms, odoriferous substance mixture production fell slightly to $X in 2022 estimated in export price. Overall, production continues to indicate a abrupt decrease. The growth pace was the most rapid in 2018 when the production volume increased by 15% against the previous year. Over the period under review, production hit record highs at $X in 2013; however, from 2014 to 2022, production failed to regain momentum.

Odoriferous Substance Mixture Exports

Exports from Croatia

After two years of growth, shipments abroad of mixtures of odoriferous substances and their preparations decreased by -5.5% to X tons in 2022. Over the period under review, exports, however, continue to indicate a resilient increase. The pace of growth appeared the most rapid in 2018 when exports increased by 101%. The exports peaked at X tons in 2021, and then reduced in the following year.

In value terms, odoriferous substance mixture exports expanded significantly to $X in 2022. In general, exports, however, saw a strong increase. The pace of growth appeared the most rapid in 2018 with an increase of 140%. Over the period under review, the exports attained the maximum in 2022 and are likely to see steady growth in years to come.

Exports by Country

Bosnia and Herzegovina (X tons), Serbia (X tons) and Italy (X tons) were the main destinations of odoriferous substance mixture exports from Croatia, together comprising 81% of total exports.

From 2012 to 2022, the biggest increases were recorded for Italy (with a CAGR of +237.8%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Italy ($X), Bosnia and Herzegovina ($X) and Serbia ($X) appeared to be the largest markets for odoriferous substance mixture exported from Croatia worldwide, together accounting for 82% of total exports.

Italy, with a CAGR of +267.0%, recorded the highest growth rate of the value of exports, in terms of 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 odoriferous substance mixture export price amounted to $X per ton, increasing by 12% against the previous year. Overall, export price indicated a measured increase from 2012 to 2022: its price increased at an average annual rate of +3.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, odoriferous substance mixture export price increased by +29.4% against 2019 indices. The growth pace was the most rapid in 2017 an increase of 63% against the previous year. The export price peaked at $X per ton in 2018; however, from 2019 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Italy ($X per ton), while the average price for exports to Bosnia and Herzegovina ($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 Greece (+12.1%), while the prices for the other major destinations experienced more modest paces of growth.

Odoriferous Substance Mixture Imports

Imports into Croatia

In 2022, purchases abroad of mixtures of odoriferous substances and their preparations decreased by -1% to X tons for the first time since 2017, thus ending a four-year rising trend. The total import volume increased at an average annual rate of +4.7% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2013 with an increase of 22%. Imports peaked at X tons in 2021, and then reduced in the following year.

In value terms, odoriferous substance mixture imports expanded modestly to $X in 2022. In general, total imports indicated temperate growth from 2012 to 2022: its value increased at an average annual rate of +3.8% 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 +30.6% against 2020 indices. The pace of growth was the most pronounced in 2018 with an increase of 27% against the previous year. Over the period under review, imports hit record highs in 2022 and are likely to see gradual growth in years to come.

Imports by Country

Germany (X tons), Ireland (X tons) and Slovenia (X tons) were the main suppliers of odoriferous substance mixture imports to Croatia, together comprising 55% of total imports. Spain, Austria, Belgium, Switzerland, France, Hungary, Italy, the Netherlands and the UK lagged somewhat behind, together accounting for a further 42%.

From 2012 to 2022, the biggest increases were recorded for Spain (with a CAGR of +38.4%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest odoriferous substance mixture suppliers to Croatia were Ireland ($X), Germany ($X) and Italy ($X), together comprising 60% of total imports. Slovenia, the UK, Switzerland, Spain, Austria, Hungary, France, the Netherlands and Belgium lagged somewhat behind, together comprising a further 37%.

In terms of the main suppliers, Spain, with a CAGR of +38.6%, 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 odoriferous substance mixture import price stood at $X per ton in 2022, picking up by 5.5% against the previous year. Over the period under review, the import price, however, continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2017 an increase of 29%. Over the period under review, average import prices reached the maximum at $X per ton in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Italy (+18.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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