Dominican Republic: Odoriferous Substance Mixture Market 2024

Odoriferous Substance Mixture Market Size in the Dominican Republic

The Dominican odoriferous substance mixture market reduced to $X in 2022, which is down by -4.1% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, consumption, however, continues to indicate a buoyant expansion. Over the period under review, the market hit record highs at $X in 2019; however, from 2020 to 2022, consumption stood at a somewhat lower figure.

Odoriferous Substance Mixture Exports

Exports from the Dominican Republic

In 2022, shipments abroad of mixtures of odoriferous substances and their preparations decreased by -25.2% to X tons, falling for the second year in a row after two years of growth. Overall, exports, however, enjoyed temperate growth. The pace of growth was the most pronounced in 2019 with an increase of 66% against the previous year. Over the period under review, the exports attained the maximum at X tons in 2020; however, from 2021 to 2022, the exports stood at a somewhat lower figure.

In value terms, odoriferous substance mixture exports reduced to $X in 2022. Over the period under review, total exports indicated a perceptible expansion from 2012 to 2022: its value increased at an average annual rate of +4.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports decreased by -35.2% against 2019 indices. The growth pace was the most rapid in 2019 with an increase of 59% against the previous year. As a result, the exports attained the peak of $X. From 2020 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Haiti (X tons), Colombia (X tons) and the United States (X tons) were the main destinations of odoriferous substance mixture exports from the Dominican Republic, together accounting for 85% of total exports. Ecuador, Cuba and Mexico lagged somewhat behind, together comprising a further 12%.

From 2012 to 2022, the biggest increases were recorded for Ecuador (with a CAGR of +254.2%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Colombia ($X) remains the key foreign market for mixtures of odoriferous substances and their preparations exports from the Dominican Republic, comprising 67% of total exports. The second position in the ranking was taken by Ecuador ($X), with a 21% share of total exports. It was followed by Haiti, with a 7.7% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Colombia was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Ecuador (+264.4% per year) and Haiti (+10.7% per year).

Export Prices by Country

The average odoriferous substance mixture export price stood at $X per ton in 2022, with an increase of 27% against the previous year. Over the period under review, the export price, however, recorded a relatively flat trend pattern. Over the period under review, the average export prices reached the maximum at $X per ton in 2018; however, from 2019 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Ecuador ($X per ton), while the average price for exports to the United States ($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 Cuba (+8.9%), while the prices for the other major destinations experienced more modest paces of growth.

Odoriferous Substance Mixture Imports

Imports into the Dominican Republic

Odoriferous substance mixture imports into the Dominican Republic declined to X tons in 2022, with a decrease of -6.9% on 2021. Over the period under review, imports, however, continue to indicate a strong expansion. The most prominent rate of growth was recorded in 2014 when imports increased by 61% against the previous year. Imports peaked at X tons in 2019; however, from 2020 to 2022, imports failed to regain momentum.

In value terms, odoriferous substance mixture imports shrank slightly to $X in 2022. Overall, imports, however, showed buoyant growth. The pace of growth was the most pronounced in 2014 when imports increased by 64%. Over the period under review, imports attained the maximum at $X in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, the United States (X tons) constituted the largest odoriferous substance mixture supplier to the Dominican Republic, accounting for a 53% share of total imports. Moreover, odoriferous substance mixture imports from the United States exceeded the figures recorded by the second-largest supplier, Colombia (X tons), fivefold. Guatemala (X tons) ranked third in terms of total imports with an 11% share.

From 2012 to 2022, the average annual growth rate of volume from the United States totaled +40.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Colombia (-1.3% per year) and Guatemala (+36.1% per year).

In value terms, the United States ($X), Honduras ($X) and Mexico ($X) were the largest odoriferous substance mixture suppliers to the Dominican Republic, with a combined 72% share of total imports.

The United States, with a CAGR of +26.8%, saw the highest growth rate of the value of imports, among the main suppliers 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, with an increase of 2.2% against the previous year. In general, the import price, however, saw a pronounced setback. The most prominent rate of growth was recorded in 2021 an increase of 10%. The import price peaked at $X per ton in 2015; however, from 2016 to 2022, import prices remained at a lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Honduras (+20.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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