Greece: Perfume Market 2024

Perfume Market Size in Greece

In 2022, the Greek perfume market decreased by -1.4% to $X, falling for the seventh year in a row after four years of growth. Over the period under review, consumption, however, showed a slight reduction. As a result, consumption attained the peak level of $X. From 2016 to 2022, the growth of the market failed to regain momentum.

Perfume Production in Greece

In value terms, perfume production skyrocketed to $X in 2022 estimated in export price. Overall, the total production indicated a buoyant expansion from 2012 to 2022: its value increased at an average annual rate of +6.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +56.5% against 2016 indices. As a result, production reached the peak level and is likely to continue growth in the immediate term.

Perfume Exports

Exports from Greece

For the third consecutive year, Greece recorded decline in shipments abroad of perfumes and toilet waters, which decreased by -6.2% to X tons in 2022. Over the period under review, exports showed a deep reduction. The pace of growth appeared the most rapid in 2013 with an increase of 14% against the previous year. As a result, the exports reached the peak of X tons. From 2014 to 2022, the growth of the exports failed to regain momentum.

In value terms, perfume exports shrank modestly to $X in 2022. Overall, total exports indicated a pronounced increase from 2012 to 2022: its value increased at an average annual rate of +2.3% 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 -13.2% against 2019 indices. The pace of growth was the most pronounced in 2019 with an increase of 33% against the previous year. As a result, the exports attained the peak of $X. From 2020 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

Serbia (X tons), Poland (X tons) and North Macedonia (X tons) were the main destinations of perfume exports from Greece, together comprising 30% of total exports. The Czech Republic, the Philippines, Ukraine, Romania, Cyprus, Bulgaria, Hungary, Germany, Portugal and the United States lagged somewhat behind, together comprising a further 56%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Ukraine (with a CAGR of +577.5%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for perfume exported from Greece were Poland ($X), the Czech Republic ($X) and Cyprus ($X), together accounting for 40% of total exports. The United States, Romania, Bulgaria, Hungary, Serbia, Portugal, the Philippines, North Macedonia, Germany and Ukraine lagged somewhat behind, together accounting for a further 36%.

Among the main countries of destination, Ukraine, with a CAGR of +366.1%, 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

In 2022, the average perfume export price amounted to $X per ton, surging by 5.2% against the previous year. In general, the export price continues to indicate a prominent increase. The pace of growth was the most pronounced in 2018 when the average export price increased by 57%. The export price peaked at $X per ton in 2019; however, from 2020 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to Ukraine ($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 Poland (+24.4%), while the prices for the other major destinations experienced more modest paces of growth.

Perfume Imports

Imports into Greece

In 2022, supplies from abroad of perfumes and toilet waters increased by 1.6% to X tons, rising for the second consecutive year after four years of decline. In general, imports, however, continue to indicate a mild slump. The pace of growth appeared the most rapid in 2015 when imports increased by 23% against the previous year. Over the period under review, imports attained the maximum at X tons in 2016; however, from 2017 to 2022, imports failed to regain momentum.

In value terms, perfume imports fell to $X in 2022. Overall, imports, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2018 with an increase of 34% against the previous year. Imports peaked at $X in 2019; however, from 2020 to 2022, imports failed to regain momentum.

Imports by Country

Spain (X tons), France (X tons) and the Netherlands (X tons) were the main suppliers of perfume imports to Greece, with a combined 63% share of total imports. Italy, Germany, Hungary, the Czech Republic, Turkey, Poland, Belgium, China, the United Arab Emirates and the UK lagged somewhat behind, together comprising a further 33%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Hungary (with a CAGR of +45.8%), while imports for the other leaders experienced more modest paces of growth.

In value terms, France ($X), Spain ($X) and Germany ($X) appeared to be the largest perfume suppliers to Greece, together comprising 63% of total imports. Italy, the Czech Republic, the Netherlands, Belgium, Poland, Hungary, Turkey, the UK, China and the United Arab Emirates lagged somewhat behind, together comprising a further 31%.

In terms of the main suppliers, Hungary, with a CAGR of +30.7%, recorded the highest rates of growth with regard to 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

The average perfume import price stood at $X per ton in 2022, falling by -12.8% against the previous year. Overall, the import price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 an increase of 47%. The import price peaked at $X per ton in 2019; however, from 2020 to 2022, import prices stood at a somewhat lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+8.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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