Indonesia: Odoriferous Substance Mixture Market 2024

Odoriferous Substance Mixture Market Size in Indonesia

The Indonesian odoriferous substance mixture market expanded notably to $X in 2022, with an increase of 7.6% against the previous year. Over the period under review, the total consumption indicated a noticeable expansion from 2012 to 2022: its value increased at an average annual rate of +4.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -12.7% against 2020 indices. As a result, consumption attained the peak level of $X. From 2021 to 2022, the growth of the market failed to regain momentum.

Odoriferous Substance Mixture Production in Indonesia

In value terms, odoriferous substance mixture production expanded remarkably to $X in 2022 estimated in export price. Over the period under review, the total production indicated strong growth from 2012 to 2022: its value increased at an average annual rate of +6.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -9.5% against 2020 indices. The pace of growth appeared the most rapid in 2020 when the production volume increased by 62%. As a result, production reached the peak level of $X. From 2021 to 2022, production growth failed to regain momentum.

Odoriferous Substance Mixture Exports

Exports from Indonesia

Odoriferous substance mixture exports from Indonesia soared to X tons in 2022, growing by 50% against the previous year's figure. In general, exports posted resilient growth. 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 rose slightly to $X in 2022. Over the period under review, exports continue to indicate a prominent expansion. The pace of growth appeared the most rapid in 2016 when exports increased by 32% against the previous year. Over the period under review, the exports reached the peak figure in 2022 and are likely to continue growth in the immediate term.

Exports by Country

Thailand (X tons), Vietnam (X tons) and the Philippines (X tons) were the main destinations of odoriferous substance mixture exports from Indonesia, together accounting for 65% of total exports. Nigeria, Singapore, Pakistan, Malaysia, Australia and Myanmar lagged somewhat behind, together accounting for a further 24%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Australia (with a CAGR of +33.9%), while the other leaders experienced more modest paces of growth.

In value terms, Thailand ($X), Vietnam ($X) and the Philippines ($X) appeared to be the largest markets for odoriferous substance mixture exported from Indonesia worldwide, with a combined 57% share of total exports. Nigeria, Singapore, Australia, Pakistan, Malaysia and Myanmar lagged somewhat behind, together accounting for a further 26%.

Among the main countries of destination, Australia, with a CAGR of +34.4%, recorded the highest growth rate of 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 average odoriferous substance mixture export price stood at $X per ton in 2022, dropping by -30.5% against the previous year. In general, the export price saw a drastic downturn. The pace of growth was the most pronounced in 2017 when the average export price increased by 5.7% against the previous year. Over the period under review, the average export prices hit record highs at $X per ton in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Australia ($X per ton), while the average price for exports to Pakistan ($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 Malaysia (+1.3%), while the prices for the other major destinations experienced mixed trend patterns.

Odoriferous Substance Mixture Imports

Imports into Indonesia

In 2022, purchases abroad of mixtures of odoriferous substances and their preparations was finally on the rise to reach X tons for the first time since 2019, thus ending a two-year declining trend. The total import volume increased at an average annual rate of +3.5% over the period from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2013 when imports increased by 23% against the previous year. Over the period under review, imports reached the maximum in 2022 and are likely to continue growth in years to come.

In value terms, odoriferous substance mixture imports surged to $X in 2022. The total import value increased at an average annual rate of +4.3% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2013 with an increase of 20% against the previous year. Imports peaked in 2022 and are likely to continue growth in years to come.

Imports by Country

In 2022, Singapore (X tons) constituted the largest supplier of odoriferous substance mixture to Indonesia, accounting for a 55% share of total imports. Moreover, odoriferous substance mixture imports from Singapore exceeded the figures recorded by the second-largest supplier, China (X tons), fourfold. The third position in this ranking was taken by the United States (X tons), with a 4.6% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Singapore stood at +6.4%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+6.1% per year) and the United States (-6.4% per year).

In value terms, Singapore ($X) constituted the largest supplier of mixtures of odoriferous substances and their preparations to Indonesia, comprising 47% of total imports. The second position in the ranking was held by China ($X), with a 12% share of total imports. It was followed by the United States, with an 8.6% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Singapore stood at +7.3%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+2.9% per year) and the United States (+2.7% per year).

Import Prices by Country

In 2022, the average odoriferous substance mixture import price amounted to $X per ton, remaining constant against the previous year. Overall, the import price showed a relatively flat trend pattern. The growth pace was the most rapid in 2015 an increase of 11%. The import price peaked in 2022 and is likely to continue growth in the near future.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+9.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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