Kenya: Essential Oils Market 2024

Essential Oils Market Size in Kenya

The Kenyan essential oils market reduced sharply to $X in 2022, which is down by -30.1% against the previous year. Over the period under review, consumption continues to indicate a relatively flat trend pattern. Over the period under review, the market hit record highs at $X in 2017; however, from 2018 to 2022, consumption remained at a lower figure.

Essential Oils Production in Kenya

In value terms, essential oils production dropped to $X in 2022 estimated in export price. In general, the total production indicated pronounced growth from 2012 to 2022: its value increased at an average annual rate of +3.1% 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 +11.7% against 2020 indices. The most prominent rate of growth was recorded in 2014 when the production volume increased by 69%. Over the period under review, production hit record highs at $X in 2017; however, from 2018 to 2022, production stood at a somewhat lower figure.

Essential Oils Exports

Exports from Kenya

For the third year in a row, Kenya recorded growth in shipments abroad of essential oils, which increased by 66% to X tons in 2022. In general, exports posted a significant expansion. The growth pace was the most rapid in 2018 with an increase of 183% against the previous year. Over the period under review, the exports attained the maximum in 2022 and are likely to continue growth in the near future.

In value terms, essential oils exports skyrocketed to $X in 2022. Overall, exports saw a significant expansion. The most prominent rate of growth was recorded in 2018 when exports increased by 182% against the previous year. The exports peaked in 2022 and are likely to continue growth in years to come.

Exports by Country

The United States (X tons), India (X tons) and the UK (X tons) were the main destinations of essential oils exports from Kenya, together comprising 85% of total exports. Belgium, Ireland and Uganda lagged somewhat behind, together accounting for a further 7.8%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Belgium (with a CAGR of +34.8%), while the other leaders experienced more modest paces of growth.

In value terms, the United States ($X) remains the key foreign market for essential oils exports from Kenya, comprising 80% of total exports. The second position in the ranking was taken by the UK ($X), with a 4.3% share of total exports. It was followed by India, with a 4.2% share.

From 2012 to 2022, the average annual growth rate of value to the United States stood at +29.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: the UK (+5.4% per year) and India (0.0% per year).

Export Prices by Country

In 2022, the average essential oils export price amounted to $X per ton, reducing by -26.3% against the previous year. Overall, export price indicated perceptible growth from 2012 to 2022: its price increased at an average annual rate of +3.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, essential oils export price decreased by -32.8% against 2019 indices. The most prominent rate of growth was recorded in 2014 an increase of 145% against the previous year. The export price peaked at $X per ton in 2019; however, from 2020 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to India ($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 Uganda (+10.0%), while the prices for the other major destinations experienced mixed trend patterns.

Essential Oils Imports

Imports into Kenya

In 2022, imports of essential oils into Kenya contracted rapidly to X tons, declining by -65.4% on the previous year's figure. Overall, imports continue to indicate a pronounced decline. The most prominent rate of growth was recorded in 2018 when imports increased by 88% against the previous year. As a result, imports reached the peak of X tons. From 2019 to 2022, the growth of imports failed to regain momentum.

In value terms, essential oils imports shrank sharply to $X in 2022. In general, imports, however, showed strong growth. The most prominent rate of growth was recorded in 2015 with an increase of 100%. Imports peaked at $X in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Madagascar (X tons), China (X tons) and Spain (X tons) were the main suppliers of essential oils imports to Kenya, together comprising 61% of total imports. India, South Africa, Egypt and Switzerland lagged somewhat behind, together comprising a further 25%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Egypt (with a CAGR of +25.0%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Madagascar ($X) constituted the largest supplier of essential oils to Kenya, comprising 74% of total imports. The second position in the ranking was held by India ($X), with a 4.5% share of total imports. It was followed by China, with a 3.4% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Madagascar stood at +15.3%. The remaining supplying countries recorded the following average annual rates of imports growth: India (-10.4% per year) and China (-3.9% per year).

Import Prices by Country

The average essential oils import price stood at $X per ton in 2022, which is down by -36.4% against the previous year. In general, the import price, however, recorded buoyant growth. The pace of growth was the most pronounced in 2020 when the average import price increased by 45%. As a result, import price attained the peak level of $X per ton. From 2021 to 2022, the average import prices failed to regain momentum.

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 Madagascar ($X per ton), while the price for Egypt ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Madagascar (+4.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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