Guatemala: Odoriferous Substance Mixture Market 2024

Odoriferous Substance Mixture Market Size in Guatemala

For the third year in a row, the Guatemalan odoriferous substance mixture market recorded growth in sales value, which increased by 2.2% to $X in 2022. The market value increased at an average annual rate of +4.7% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Odoriferous substance mixture consumption peaked in 2022 and is likely to see steady growth in the near future.

Odoriferous Substance Mixture Exports

Exports from Guatemala

In 2022, approx. X tons of mixtures of odoriferous substances and their preparations were exported from Guatemala; with an increase of 38% against the year before. Overall, exports saw a prominent expansion. The pace of growth appeared the most rapid in 2015 when exports increased by 108% against the previous year. The exports peaked in 2022 and are expected to retain growth in years to come.

In value terms, odoriferous substance mixture exports surged to $X in 2022. In general, exports enjoyed a significant increase. The most prominent rate of growth was recorded in 2015 when exports increased by 472%. Over the period under review, the exports attained the maximum in 2022 and are likely to continue growth in the immediate term.

Exports by Country

Mexico (X tons), Honduras (X tons) and El Salvador (X tons) were the main destinations of odoriferous substance mixture exports from Guatemala, with a combined 88% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Mexico (with a CAGR of +107.2%), while the other leaders experienced more modest paces of growth.

In value terms, Mexico ($X) remains the key foreign market for mixtures of odoriferous substances and their preparations exports from Guatemala, comprising 75% of total exports. The second position in the ranking was held by Honduras ($X), with a 9.5% share of total exports. It was followed by El Salvador, with an 8.6% share.

From 2012 to 2022, the average annual growth rate of value to Mexico amounted to +133.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Honduras (+19.4% per year) and El Salvador (+10.0% per year).

Export Prices by Country

In 2022, the average odoriferous substance mixture export price amounted to $X per ton, rising by 20% against the previous year. Overall, the export price saw resilient growth. The most prominent rate of growth was recorded in 2015 when the average export price increased by 175%. As a result, the export price reached the peak level of $X per ton. From 2016 to 2022, the average export prices remained at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Mexico ($X per ton), while the average price for exports to Honduras ($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 Mexico (+12.9%), while the prices for the other major destinations experienced more modest paces of growth.

Odoriferous Substance Mixture Imports

Imports into Guatemala

For the fifth year in a row, Guatemala recorded growth in supplies from abroad of mixtures of odoriferous substances and their preparations, which increased by 0.5% to X tons in 2022. The total import volume increased at an average annual rate of +5.4% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2021 when imports increased by 16%. Imports peaked in 2022 and are expected to retain growth in the near future.

In value terms, odoriferous substance mixture imports reached $X in 2022. In general, total imports indicated a prominent expansion from 2012 to 2022: its value increased at an average annual rate of +6.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +31.6% against 2019 indices. The most prominent rate of growth was recorded in 2015 with an increase of 20% against the previous year. Imports peaked in 2022 and are likely to see gradual growth in the immediate term.

Imports by Country

In 2022, Mexico (X tons) constituted the largest odoriferous substance mixture supplier to Guatemala, with a 51% share of total imports. Moreover, odoriferous substance mixture imports from Mexico exceeded the figures recorded by the second-largest supplier, Uruguay (X tons), twofold. The United States (X tons) ranked third in terms of total imports with a 16% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Mexico totaled +9.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Uruguay (+0.9% per year) and the United States (+1.9% per year).

In value terms, Uruguay ($X), Mexico ($X) and the United States ($X) appeared to be the largest odoriferous substance mixture suppliers to Guatemala, with a combined 91% share of total imports. Switzerland and Spain lagged somewhat behind, together accounting for a further 4.2%.

Among the main suppliers, Switzerland, with a CAGR of +23.4%, recorded 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

The average odoriferous substance mixture import price stood at $X per ton in 2022, picking up by 7.6% against the previous year. Overall, the import price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 when the average import price increased by 9% against the previous year. The import price peaked in 2022 and is expected to retain growth in the immediate term.

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 Uruguay ($X per ton), while the price for Mexico ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Uruguay (+5.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform