Europe: Essential Oils Market 2024

Essential Oils Market Size in Europe

The Europe essential oils market dropped to $X in 2022, with a decrease of -9.2% against the previous year. The market value increased at an average annual rate of +2.9% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, consumption attained the peak level of $X, and then dropped in the following year.

Essential Oils Production in Europe

In value terms, essential oils production soared to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +3.8% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2013 when the production volume increased by 17% against the previous year. The level of production peaked at $X in 2018; however, from 2019 to 2022, production failed to regain momentum.

Essential Oils Exports

Exports in Europe

In 2022, shipments abroad of essential oils decreased by -17.5% to X tons for the first time since 2019, thus ending a two-year rising trend. Total exports indicated a temperate increase from 2012 to 2022: its volume increased at an average annual rate of +4.3% 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 2020 when exports increased by 30%. The volume of export peaked at X tons in 2021, and then fell dramatically in the following year.

In value terms, essential oils exports fell sharply to $X in 2022. Total exports indicated a remarkable increase from 2012 to 2022: its value increased at an average annual rate of +5.7% 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 2017 when exports increased by 20% against the previous year. Over the period under review, the exports reached the maximum at $X in 2021, and then reduced markedly in the following year.

Exports by Country

Germany (X tons), Italy (X tons), France (X tons), Spain (X tons), the UK (X tons) and the Netherlands (X tons) represented roughly 84% of total exports in 2022. It was distantly followed by Poland (X tons), comprising a 4.5% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the key exporting countries, was attained by Poland (with a CAGR of +50.7%), while the other leaders experienced more modest paces of growth.

In value terms, France ($X), Germany ($X) and Italy ($X) appeared to be the countries with the highest levels of exports in 2022, with a combined 51% share of total exports. The UK, the Netherlands, Spain and Poland lagged somewhat behind, together accounting for a further 30%.

Among the main exporting countries, Poland, with a CAGR of +41.3%, 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

The export price in Europe stood at $X per ton in 2022, surging by 1.9% against the previous year. Over the last decade, it increased at an average annual rate of +1.3%. The most prominent rate of growth was recorded in 2014 when the export price increased by 13%. Over the period under review, the export prices reached the peak figure at $X per ton in 2017; however, from 2018 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was France ($X per ton), while Poland ($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 (+5.5%), while the other leaders experienced more modest paces of growth.

Essential Oils Imports

Imports in Europe

In 2022, after two years of growth, there was significant decline in purchases abroad of essential oils, when their volume decreased by -10.8% to X tons. The total import volume increased at an average annual rate of +2.3% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2020 with an increase of 23%. The volume of import peaked at X tons in 2021, and then declined in the following year.

In value terms, essential oils imports reduced to $X in 2022. Total imports indicated a measured expansion from 2012 to 2022: its value increased at an average annual rate of +4.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by -1.2% against 2018 indices. The most prominent rate of growth was recorded in 2017 with an increase of 16% against the previous year. The level of import peaked at $X in 2021, and then reduced in the following year.

Imports by Country

In 2022, Germany (X tons) represented the main importer of essential oils, mixing up 31% of total imports. The UK (X tons) held the second position in the ranking, followed by France (X tons), Ireland (X tons), the Netherlands (X tons), Spain (X tons), Italy (X tons) and Switzerland (X tons). All these countries together took near 62% share of total imports.

Imports into Germany increased at an average annual rate of +2.1% from 2012 to 2022. At the same time, the Netherlands (+11.8%), Italy (+9.7%), France (+3.4%) and Spain (+1.4%) displayed positive paces of growth. Moreover, the Netherlands emerged as the fastest-growing importer imported in Europe, with a CAGR of +11.8% from 2012-2022. Ireland, Switzerland and the UK experienced a relatively flat trend pattern. From 2012 to 2022, the share of the Netherlands and Italy increased by +4.7 and +3.4 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, France ($X), Germany ($X) and Ireland ($X) constituted the countries with the highest levels of imports in 2022, with a combined 54% share of total imports. The UK, the Netherlands, Switzerland, Spain and Italy lagged somewhat behind, together comprising a further 38%.

In terms of the main importing countries, the Netherlands, with a CAGR of +11.3%, saw the highest growth rate of 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

In 2022, the import price in Europe amounted to $X per ton, therefore, remained relatively stable against the previous year. Over the last decade, it increased at an average annual rate of +2.3%. The growth pace was the most rapid in 2017 an increase of 15% against the previous year. The level of import peaked at $X per ton in 2018; however, from 2019 to 2022, import prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Ireland (+5.7%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform