Estonia: Odoriferous Substance Mixture Market 2024

Odoriferous Substance Mixture Market Size in Estonia

The Estonian odoriferous substance mixture market dropped to $X in 2022, reducing by -14.1% 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). Over the period under review, consumption, however, recorded a slight contraction. As a result, consumption attained the peak level of $X. From 2014 to 2022, the growth of the market failed to regain momentum.

Odoriferous Substance Mixture Exports

Exports from Estonia

In 2022, after three years of decline, there was significant growth in shipments abroad of mixtures of odoriferous substances and their preparations, when their volume increased by 600% to X tons. Over the period under review, exports posted a prominent increase. The growth pace was the most rapid in 2013 with an increase of 1,613% against the previous year. As a result, the exports attained the peak of X tons. From 2014 to 2022, the growth of the exports failed to regain momentum.

In value terms, odoriferous substance mixture exports surged to $X in 2022. Overall, exports enjoyed significant growth. The growth pace was the most rapid in 2013 when exports increased by 1,926% against the previous year. As a result, the exports reached the peak of $X. From 2014 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

Russia (X tons) was the main destination for odoriferous substance mixture exports from Estonia, with a 90% share of total exports. Moreover, odoriferous substance mixture exports to Russia exceeded the volume sent to the second major destination, Kazakhstan (X tons), more than tenfold. The third position in this ranking was held by Sweden (X tons), with a 2% share.

From 2012 to 2022, the average annual growth rate of volume to Russia amounted to +21.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Kazakhstan (0.0% per year) and Sweden (+10.0% per year).

In value terms, Russia ($X) remains the key foreign market for mixtures of odoriferous substances and their preparations exports from Estonia, comprising 83% of total exports. The second position in the ranking was held by Kazakhstan ($X), with a 9.9% share of total exports. It was followed by Sweden, with a 3.3% share.

From 2012 to 2022, the average annual growth rate of value to Russia stood at +25.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Kazakhstan (0.0% per year) and Sweden (+6.0% per year).

Export Prices by Country

The average odoriferous substance mixture export price stood at $X per ton in 2022, picking up by 6.4% against the previous year. Over the period under review, export price indicated a slight expansion from 2012 to 2022: its price increased at an average annual rate of +1.3% 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 decreased by -32.0% against 2020 indices. The most prominent rate of growth was recorded in 2020 when the average export price increased by 45% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2021 to 2022, the average export prices failed to regain momentum.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Kazakhstan ($X per ton), while the average price for exports to Russia ($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 Russia (+3.7%), while the prices for the other major destinations experienced a decline.

Odoriferous Substance Mixture Imports

Imports into Estonia

In 2022, the amount of mixtures of odoriferous substances and their preparations imported into Estonia soared to X tons, jumping by 39% compared with the previous year's figure. In general, imports, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 when imports increased by 192% against the previous year. As a result, imports attained the peak of X tons. From 2014 to 2022, the growth of imports remained at a lower figure.

In value terms, odoriferous substance mixture imports amounted to $X in 2022. Over the period under review, imports showed a moderate increase. The most prominent rate of growth was recorded in 2013 with an increase of 136% against the previous year. As a result, imports reached the peak of $X. From 2014 to 2022, the growth of imports remained at a lower figure.

Imports by Country

In 2022, Germany (X tons) constituted the largest odoriferous substance mixture supplier to Estonia, accounting for a 44% share of total imports. Moreover, odoriferous substance mixture imports from Germany exceeded the figures recorded by the second-largest supplier, Finland (X tons), threefold. The third position in this ranking was taken by the Netherlands (X tons), with a 7% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Germany totaled +8.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Finland (-6.9% per year) and the Netherlands (-5.6% per year).

In value terms, Germany ($X) constituted the largest supplier of mixtures of odoriferous substances and their preparations to Estonia, comprising 36% of total imports. The second position in the ranking was held by France ($X), with a 9.4% share of total imports. It was followed by the Netherlands, with a 6.9% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Germany amounted to +7.6%. The remaining supplying countries recorded the following average annual rates of imports growth: France (+23.8% per year) and the Netherlands (-0.4% per year).

Import Prices by Country

The average odoriferous substance mixture import price stood at $X per ton in 2022, which is down by -18% against the previous year. Over the period under review, import price indicated a measured expansion 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. The growth pace was the most rapid in 2016 an increase of 26%. The import price peaked at $X per ton in 2021, and then dropped sharply in the following year.

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 Switzerland ($X per ton), while the price for Finland ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Sweden (+18.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform