Report Update Nov 1, 2024

Iraq - Essential Oils - Market Analysis, Forecast, Size, Trends and Insights

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Iraq: Essential Oils Market 2024

Essential Oils Market Size in Iraq

In 2022, the Iraqi essential oils market increased by 0.4% to $X, rising for the second consecutive year after five years of decline. Overall, consumption, however, enjoyed a modest expansion. As a result, consumption reached the peak level of $X. From 2016 to 2022, the growth of the market remained at a lower figure.

Essential Oils Production in Iraq

In value terms, essential oils production shrank slightly to $X in 2022 estimated in export price. Over the period under review, production, however, continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2015 with an increase of 75% against the previous year. As a result, production reached the peak level of $X. From 2016 to 2022, production growth failed to regain momentum.

Essential Oils Exports

Exports from Iraq

In 2022, shipments abroad of essential oils decreased by -88.5% to X kg for the first time since 2018, thus ending a three-year rising trend. In general, exports, however, showed a significant expansion. The most prominent rate of growth was recorded in 2013 when exports increased by 2,400%. The exports peaked at X kg in 2021, and then reduced markedly in the following year.

In value terms, essential oils exports declined remarkably to $X in 2022. Overall, exports, however, continue to indicate a significant expansion. The pace of growth appeared the most rapid in 2021 when exports increased by 3,580%. As a result, the exports reached the peak of $X, and then dropped significantly in the following year.

Exports by Country

South Korea (X kg) and Turkey (X kg) were the main destinations of essential oils exports from Iraq. Moreover, essential oils exports in South Korea exceeded the figures recorded by the second-largest exporter, Turkey, twofold.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by South Korea (with a CAGR of 0.0%).

In value terms, South Korea ($X) emerged as the key foreign market for essential oils exports from Iraq, comprising 100% of total exports. The second position in the ranking was taken by Turkey ($X), with a 0.4% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to South Korea was relatively modest.

Export Prices by Country

In 2022, the average essential oils export price amounted to $X per ton, almost unchanged from the previous year. Overall, the export price, however, saw temperate growth. The pace of growth was the most pronounced in 2021 an increase of 70% against the previous year. As a result, the export price reached the peak level of $X per ton, leveling off in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was South Korea ($X per ton), while the average price for exports to Turkey totaled $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the Netherlands (-3.2%).

Essential Oils Imports

Imports into Iraq

In 2022, overseas purchases of essential oils increased by 71% to X tons, rising for the second year in a row after four years of decline. In general, imports saw a remarkable increase. The most prominent rate of growth was recorded in 2015 when imports increased by 259% against the previous year. Over the period under review, imports reached the peak figure at X tons in 2016; however, from 2017 to 2022, imports stood at a somewhat lower figure.

In value terms, essential oils imports soared to $X in 2022. Overall, imports saw significant growth. The most prominent rate of growth was recorded in 2015 with an increase of 242% against the previous year. Imports peaked at $X in 2016; however, from 2017 to 2022, imports remained at a lower figure.

Imports by Country

Jordan (X tons), the UK (X tons) and the United States (X tons) were the main suppliers of essential oils imports to Iraq, with a combined 79% share of total imports. The United Arab Emirates, Turkey, Germany and Egypt lagged somewhat behind, together accounting for a further 15%.

From 2012 to 2022, the biggest increases were recorded for Germany (with a CAGR of +90.3%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest essential oils suppliers to Iraq were the United States ($X), Jordan ($X) and the UK ($X), with a combined 62% share of total imports. The United Arab Emirates, Germany, Turkey and Egypt lagged somewhat behind, together comprising a further 22%.

Germany, with a CAGR of +95.3%, recorded the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average essential oils import price amounted to $X per ton, with a decrease of -16.6% against the previous year. In general, the import price, however, continues to indicate a perceptible increase. The pace of growth was the most pronounced in 2019 an increase of 73% against the previous year. As a result, import price attained the peak level of $X per ton. From 2020 to 2022, the average import prices remained at a lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Malaysia (+10.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for essential oils in the world?

The countries with the highest volumes of in 2021 were China, the United States and Germany, together accounting for 40% of global consumption. These countries were followed by India, France, Russia, the UK, Indonesia, Ireland, Spain, Saudi Arabia, Mexico and Argentina, which together accounted for a further 31%.

What are the largest producers of essential oils in the world?

China constituted the country with the largest volume of essential oils production, comprising approx. 23% of total volume. Moreover, essential oils production in China exceeded the figures recorded by the second-largest producer, Brazil, twofold. The third position in this ranking was occupied by India, with an 11% share.

What are the leading suppliers of essential oils to Iraq?

In value terms, the United States, China and Jordan constituted the largest essential oils suppliers to Iraq, with a combined 56% share of total imports.

What are the leading importers of essential oils from Iraq?

In value terms, the United States $210) remains the key foreign market for essential oils exports from Iraq, comprising 84% of total exports. The second position in the ranking was occupied by Hungary $12), with a 4.8% share of total exports. It was followed by Germany, with a 3.6% share.

What is the average export price for essential oils in Iraq?

The average essential oils export price stood at $14,597 per ton in 2021, reducing by -9% against the previous year.

What is the average import price for essential oils in Iraq?

The average essential oils import price stood at $12,884 per ton in 2021, falling by -11.4% against the previous year.

This report provides an in-depth analysis of the essential oils market in Iraq. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

Prodcom 20531020 - Essential oils

Country coverage:

Iraq

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Iraq
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

Take advantage of the latest data
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Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023