Report Update Nov 1, 2024

Ecuador - Essential Oils - Market Analysis, Forecast, Size, Trends and Insights

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Ecuador: Essential Oils Market 2024

Essential Oils Market Size in Ecuador

In 2022, the Ecuadorian essential oils market was finally on the rise to reach $X after six years of decline. Overall, consumption showed a resilient expansion. As a result, consumption attained the peak level of $X. From 2016 to 2022, the growth of the market remained at a lower figure.

Essential Oils Production in Ecuador

In value terms, essential oils production reduced to $X in 2022 estimated in export price. In general, production, however, showed a strong expansion. The pace of growth appeared the most rapid in 2014 when the production volume increased by 66%. Over the period under review, production reached the peak level at $X in 2015; however, from 2016 to 2022, production remained at a lower figure.

Essential Oils Exports

Exports from Ecuador

In 2022, approx. X tons of essential oils were exported from Ecuador; which is down by -67.8% compared with 2021. Overall, exports, however, showed a strong expansion. The pace of growth was the most pronounced in 2018 when exports increased by 187% against the previous year. As a result, the exports reached the peak of X tons. From 2019 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, essential oils exports shrank remarkably to $X in 2022. In general, exports, however, enjoyed a strong expansion. The growth pace was the most rapid in 2014 when exports increased by 462%. Over the period under review, the exports attained the maximum at $X in 2018; however, from 2019 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

The United States (X tons) was the main destination for essential oils exports from Ecuador, accounting for a approx. 98% share of total exports.

From 2012 to 2022, the average annual growth rate of volume to the United States totaled +48.6%.

In value terms, the United States ($X) also remains the key foreign market for essential oils exports from Ecuador.

From 2012 to 2022, the average annual growth rate of value to the United States stood at +47.9%.

Export Prices by Country

In 2022, the average essential oils export price amounted to $X per ton, falling by -10.4% against the previous year. Over the period under review, export price indicated a buoyant expansion from 2012 to 2022: its price 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, essential oils export price increased by +2.3% against 2020 indices. The most prominent rate of growth was recorded in 2014 an increase of 96% against the previous year. The export price peaked at $X per ton in 2017; however, from 2018 to 2022, the export prices failed to regain momentum.

As there is only one major export destination, the average price level is determined by prices for the United States.

From 2012 to 2022, the rate of growth in terms of prices for Colombia amounted to +10.2% per year.

Essential Oils Imports

Imports into Ecuador

In 2022, overseas purchases of essential oils decreased by -15.8% to X tons, falling for the second year in a row after two years of growth. Overall, imports, however, continue to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2020 when imports increased by 61%. As a result, imports reached the peak of X tons. From 2021 to 2022, the growth of imports failed to regain momentum.

In value terms, essential oils imports contracted remarkably to $X in 2022. In general, imports, however, saw a strong expansion. The growth pace was the most rapid in 2020 when imports increased by 87%. As a result, imports reached the peak of $X. From 2021 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

The United States (X tons), China (X tons) and Chile (X tons) were the main suppliers of essential oils imports to Ecuador, together accounting for 76% of total imports. Brazil, India, Spain, France and Colombia lagged somewhat behind, together comprising a further 18%.

From 2012 to 2022, the biggest increases were recorded for India (with a CAGR of +43.4%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X) constituted the largest supplier of essential oils to Ecuador, comprising 72% of total imports. The second position in the ranking was taken by China ($X), with a 6.9% share of total imports. It was followed by India, with a 3.9% share.

From 2012 to 2022, the average annual growth rate of value from the United States totaled +12.6%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+4.9% per year) and India (+32.0% per year).

Import Prices by Country

In 2022, the average essential oils import price amounted to $X per ton, which is down by -6.3% against the previous year. Over the period under review, the import price, however, posted a resilient expansion. The most prominent rate of growth was recorded in 2017 an increase of 46% against the previous year. Over the period under review, average import prices hit record highs at $X per ton in 2020; however, from 2021 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 Colombia ($X per ton), while the price for Chile ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Colombia (+14.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for essential oils in the world?

The countries with the highest volumes of in 2021 were China, the United States and Germany, together comprising 40% of global consumption. These countries were followed by India, France, Russia, the UK, Indonesia, Ireland, Spain, Saudi Arabia, Mexico and Argentina, which together accounted for a further 31%.

What are the largest producers of essential oils in the world?

China remains the largest essential oils producing country worldwide, comprising approx. 23% of total volume. Moreover, essential oils production in China exceeded the figures recorded by the second-largest producer, Brazil, twofold. India ranked third in terms of total production with an 11% share.

What are the leading suppliers of essential oils to Ecuador?

In value terms, the United States constituted the largest supplier of essential oils to Ecuador, comprising 72% of total imports. The second position in the ranking was occupied by China, with a 6.7% share of total imports. It was followed by India, with a 3.9% share.

What are the leading importers of essential oils from Ecuador?

In value terms, the United States remains the key foreign market for essential oils exports from Ecuador.

What is the average export price for essential oils in Ecuador?

In 2021, the average essential oils export price amounted to $28,770 per ton, with an increase of 11% against the previous year.

What is the average import price for essential oils in Ecuador?

The average essential oils import price stood at $30,391 per ton in 2021, rising by 47% against the previous year.

This report provides an in-depth analysis of the essential oils market in Ecuador. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

Prodcom 20531020 - Essential oils

Country coverage:

Ecuador

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Ecuador
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

Take advantage of the latest data
Find deeper insights into current market developments
Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023