India: Odoriferous Substance Mixture Market 2024

Odoriferous Substance Mixture Market Size in India

The Indian odoriferous substance mixture market was estimated at $X in 2022, standing approx. at the previous year. Overall, consumption, however, showed a noticeable setback. The pace of growth was the most pronounced in 2020 with an increase of 3.2% against the previous year. Odoriferous substance mixture consumption peaked at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Odoriferous Substance Mixture Production in India

In value terms, odoriferous substance mixture production contracted to $X in 2022 estimated in export price. Overall, production, however, continues to indicate a drastic downturn. The growth pace was the most rapid in 2021 with an increase of 4% against the previous year. Over the period under review, production reached the maximum level at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

Odoriferous Substance Mixture Exports

Exports from India

For the third year in a row, India recorded growth in shipments abroad of mixtures of odoriferous substances and their preparations, which increased by 4.7% to X tons in 2022. Overall, total exports indicated a prominent expansion from 2012 to 2022: its volume increased at an average annual rate of +8.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +13.8% against 2018 indices. The growth pace was the most rapid in 2013 with an increase of 21%. Over the period under review, the exports reached the maximum in 2022 and are likely to continue growth in the immediate term.

In value terms, odoriferous substance mixture exports rose rapidly to $X in 2022. Over the period under review, total exports indicated a strong expansion from 2012 to 2022: its value increased at an average annual rate of +5.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +74.3% against 2014 indices. The most prominent rate of growth was recorded in 2018 with an increase of 27%. The exports peaked in 2022 and are likely to see gradual growth in the immediate term.

Exports by Country

South Africa (X tons), Bangladesh (X tons) and the United Arab Emirates (X tons) were the main destinations of odoriferous substance mixture exports from India, together accounting for 25% of total exports. Nigeria, Jordan, Saudi Arabia, Kenya, Myanmar, Sri Lanka, Nepal, Iran, Tanzania and Oman lagged somewhat behind, together comprising a further 44%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Myanmar (with a CAGR of +64.2%), while the other leaders experienced more modest paces of growth.

In value terms, the United Arab Emirates ($X) remains the key foreign market for mixtures of odoriferous substances and their preparations exports from India, comprising 16% of total exports. The second position in the ranking was held by South Africa ($X), with a 7.8% share of total exports. It was followed by Bangladesh, with a 7.7% share.

From 2012 to 2022, the average annual rate of growth in terms of value to the United Arab Emirates stood at +7.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: South Africa (+6.9% per year) and Bangladesh (+6.7% per year).

Export Prices by Country

In 2022, the average odoriferous substance mixture export price amounted to $X per ton, approximately mirroring the previous year. Over the period under review, the export price, however, recorded a pronounced decline. The growth pace was the most rapid in 2019 when the average export price increased by 13%. Over the period under review, the average export prices reached the maximum at $X per ton in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was the United Arab Emirates ($X per ton), while the average price for exports to Myanmar ($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 Saudi Arabia (+6.4%), while the prices for the other major destinations experienced more modest paces of growth.

Odoriferous Substance Mixture Imports

Imports into India

In 2022, approx. X tons of mixtures of odoriferous substances and their preparations were imported into India; with an increase of 24% against 2021. In general, total imports indicated a strong increase from 2012 to 2022: its volume increased at an average annual rate of +5.3% 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 +37.3% against 2020 indices. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, odoriferous substance mixture imports surged to $X in 2022. Over the period under review, imports saw a resilient increase. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

The United Arab Emirates (X tons), Singapore (X tons) and the United States (X tons) were the main suppliers of odoriferous substance mixture imports to India, with a combined 41% share of total imports. China, Oman, France, Germany, Ireland, Belgium, Indonesia, Switzerland, the UK and the Netherlands lagged somewhat behind, together comprising a further 49%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Oman (with a CAGR of +70.3%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest odoriferous substance mixture suppliers to India were the United Arab Emirates ($X), the United States ($X) and Ireland ($X), with a combined 39% share of total imports. Singapore, Switzerland, France, Germany, Oman, China, Belgium, Indonesia, the UK and the Netherlands lagged somewhat behind, together accounting for a further 50%.

Oman, with a CAGR of +95.2%, recorded the highest growth rate of the value of imports, among the main suppliers 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 2.4% against the previous year. Over the last decade, it increased at an average annual rate of +3.6%. The pace of growth was the most pronounced in 2018 when the average import price increased by 22% against the previous year. Over the period under review, average import prices attained the maximum at $X per ton in 2019; however, from 2020 to 2022, import prices stood at a somewhat lower figure.

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 Ireland ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Oman (+14.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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