EU: Odoriferous Substance Mixture Market 2024

Odoriferous Substance Mixture Market Size in the EU

The EU odoriferous substance mixture market fell dramatically to $X in 2022, dropping by -20.3% against the previous year. The market value increased at an average annual rate of +1.7% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2020 when the market value increased by 10% against the previous year. As a result, consumption attained the peak level of $X. From 2021 to 2022, the growth of the market remained at a somewhat lower figure.

Odoriferous Substance Mixture Production in the EU

In value terms, odoriferous substance mixture production contracted to $X in 2022 estimated in export price. Overall, production recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2014 with an increase of 16%. The level of production peaked at $X in 2018; however, from 2019 to 2022, production remained at a lower figure.

Odoriferous Substance Mixture Exports

Exports in the EU

In 2022, overseas shipments of mixtures of odoriferous substances and their preparations increased by 11% to X tons, rising for the second consecutive year after two years of decline. The total export volume increased at an average annual rate of +3.1% from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being recorded in certain years. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, odoriferous substance mixture exports skyrocketed to $X in 2022. The total export value increased at an average annual rate of +3.4% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

The shipments of the three major exporters of mixtures of odoriferous substances and their preparations, namely Ireland, Germany and France, represented more than two-thirds of total export. The Netherlands (X tons) took the next position in the ranking, followed by Spain (X tons). All these countries together held approx. 19% share of total exports. The following exporters - Italy (X tons) and Hungary (X tons) - each recorded a 4.6% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by Hungary (with a CAGR of +21.6%), while the other leaders experienced more modest paces of growth.

In value terms, Ireland ($X) remains the largest odoriferous substance mixture supplier in the European Union, comprising 54% of total exports. The second position in the ranking was held by France ($X), with a 15% share of total exports. It was followed by Germany, with a 13% share.

From 2012 to 2022, the average annual growth rate of value in Ireland amounted to +3.1%. The remaining exporting countries recorded the following average annual rates of exports growth: France (+3.1% per year) and Germany (+2.8% per year).

Export Prices by Country

In 2022, the export price in the European Union amounted to $X per ton, surging by 22% against the previous year. In general, the export price continues to indicate a relatively flat trend pattern. Over the period under review, the export prices reached the peak figure at $X per ton in 2014; however, from 2015 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Ireland ($X per ton), while Hungary ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Hungary (+11.1%), while the other leaders experienced more modest paces of growth.

Odoriferous Substance Mixture Imports

Imports in the EU

In 2022, odoriferous substance mixture imports in the European Union expanded modestly to X tons, surging by 4.1% compared with 2021 figures. The total import volume increased at an average annual rate of +2.7% from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations in certain years. The most prominent rate of growth was recorded in 2016 when imports increased by 12%. The volume of import peaked at X tons in 2018; however, from 2019 to 2022, imports failed to regain momentum.

In value terms, odoriferous substance mixture imports rose modestly to $X in 2022. The total import value increased at an average annual rate of +3.2% over the period from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2013 when imports increased by 9.2%. The level of import peaked in 2022 and is likely to continue growth in the near future.

Imports by Country

In 2022, France (X tons), distantly followed by Germany (X tons), the Netherlands (X tons), Spain (X tons), Italy (X tons), Poland (X tons), Romania (X tons) and Belgium (X tons) represented the major importers of mixtures of odoriferous substances and their preparations, together committing 79% of total imports. The following importers - Ireland (X tons), Greece (X tons), Austria (X tons), the Czech Republic (X tons) and Sweden (X tons) - together made up 12% of total imports.

From 2012 to 2022, the biggest increases were recorded for Romania (with a CAGR of +11.9%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, France ($X) constitutes the largest market for imported mixtures of odoriferous substances and their preparations in the European Union, comprising 28% of total imports. The second position in the ranking was taken by Germany ($X), with a 12% share of total imports. It was followed by Spain, with a 10% share.

From 2012 to 2022, the average annual growth rate of value in France stood at +1.3%. In the other countries, the average annual rates were as follows: Germany (+3.2% per year) and Spain (+3.8% per year).

Import Prices by Country

The import price in the European Union stood at $X per ton in 2022, approximately mirroring the previous year. Over the period under review, the import price, however, continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 when the import price increased by 9.5%. As a result, import price attained the peak level of $X per ton, and then shrank in the following year.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was France ($X per ton), while Romania ($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 (+8.8%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :