Denmark: Essential Oils Market 2024

Essential Oils Market Size in Denmark

In 2022, the Danish essential oils market was finally on the rise to reach $X after three years of decline. Overall, consumption showed a slight contraction. Essential oils consumption peaked at $X in 2015; however, from 2016 to 2022, consumption failed to regain momentum.

Essential Oils Production in Denmark

In value terms, essential oils production skyrocketed to $X in 2022 estimated in export price. Overall, production, however, saw a resilient expansion. As a result, production attained the peak level and is likely to continue growth in the immediate term.

Essential Oils Exports

Exports from Denmark

After two years of growth, overseas shipments of essential oils decreased by -30.7% to X tons in 2022. In general, exports, however, enjoyed slight growth. The most prominent rate of growth was recorded in 2017 with an increase of 185% against the previous year. As a result, the exports reached the peak of X tons. From 2018 to 2022, the growth of the exports failed to regain momentum.

In value terms, essential oils exports fell to $X in 2022. Overall, exports, however, continue to indicate a resilient increase. The most prominent rate of growth was recorded in 2017 when exports increased by 93% against the previous year. As a result, the exports reached the peak of $X. From 2018 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Norway (X tons), the UK (X tons) and the United States (X tons) were the main destinations of essential oils exports from Denmark, together accounting for 63% of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by the UK (with a CAGR of +121.4%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for essential oils exported from Denmark were the UK ($X), Norway ($X) and Sweden ($X), with a combined 40% share of total exports. The United States, Finland, the Czech Republic, Poland, Lithuania, Slovakia, the Netherlands, Germany, New Zealand and Canada lagged somewhat behind, together accounting for a further 54%.

Among the main countries of destination, the Czech Republic, with a CAGR of +125.6%, saw the highest rates of growth with regard to the value of exports, 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, growing by 36% against the previous year. Over the period under review, export price indicated a measured increase from 2012 to 2022: its price 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, essential oils export price increased by +41.0% against 2020 indices. The growth pace was the most rapid in 2018 an increase of 62% against the previous year. The export price peaked in 2022 and is likely to continue growth in the near future.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Finland ($X per ton), while the average price for exports to Norway ($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 Finland (+17.6%), while the prices for the other major destinations experienced more modest paces of growth.

Essential Oils Imports

Imports into Denmark

In 2022, supplies from abroad of essential oils decreased by -26.1% to X tons, falling for the third year in a row after two years of growth. Overall, imports continue to indicate a abrupt setback. The pace of growth appeared the most rapid in 2015 with an increase of 28%. As a result, imports reached the peak of X tons. From 2016 to 2022, the growth of imports remained at a lower figure.

In value terms, essential oils imports expanded rapidly to $X in 2022. Over the period under review, imports recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2014 when imports increased by 17% against the previous year. Imports peaked at $X in 2015; however, from 2016 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Brazil (X tons), the UK (X tons) and Germany (X tons) were the main suppliers of essential oils imports to Denmark, with a combined 76% share of total imports. India, Spain, the Netherlands, Australia, France and Italy lagged somewhat behind, together comprising a further 17%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by the Netherlands (with a CAGR of +19.2%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest essential oils suppliers to Denmark were the UK ($X), Germany ($X) and Spain ($X), together accounting for 57% of total imports.

In terms of the main suppliers, Spain, with a CAGR of +20.3%, saw the highest rates of growth with regard to 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, rising by 45% against the previous year. In general, import price indicated a resilient increase from 2012 to 2022: its price increased at an average annual rate of +5.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, essential oils import price increased by +54.7% against 2019 indices. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Germany (+4.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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