Lithuania: Odoriferous Substance Mixture Market 2024

Odoriferous Substance Mixture Market Size in Lithuania

The Lithuanian odoriferous substance mixture market rose remarkably to $X in 2022, growing by 8.4% against the previous year. In general, the total consumption indicated a resilient expansion from 2012 to 2022: its value increased at an average annual rate of +9.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +37.3% against 2020 indices. Over the period under review, the market hit record highs at $X in 2019; however, from 2020 to 2022, consumption stood at a somewhat lower figure.

Odoriferous Substance Mixture Production in Lithuania

In value terms, odoriferous substance mixture production rose remarkably to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +4.2% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2016 with an increase of 25%. Odoriferous substance mixture production peaked in 2022 and is expected to retain growth in the immediate term.

Odoriferous Substance Mixture Exports

Exports from Lithuania

In 2022, exports of mixtures of odoriferous substances and their preparations from Lithuania skyrocketed to X tons, increasing by 52% compared with the previous year's figure. Overall, exports saw a strong increase. The pace of growth appeared the most rapid in 2014 with an increase of 81%. 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 saw a remarkable increase. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Russia (X tons) was the main destination for odoriferous substance mixture exports from Lithuania, with a 44% share of total exports. Moreover, odoriferous substance mixture exports to Russia exceeded the volume sent to the second major destination, Kazakhstan (X tons), threefold. Poland (X tons) ranked third in terms of total exports with a 10% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Russia stood at +8.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Kazakhstan (+46.7% per year) and Poland (+68.7% per year).

In value terms, Russia ($X) remains the key foreign market for mixtures of odoriferous substances and their preparations exports from Lithuania, comprising 56% of total exports. The second position in the ranking was held by Kazakhstan ($X), with a 9.3% share of total exports. It was followed by Latvia, with a 6.7% share.

From 2012 to 2022, the average annual growth rate of value to Russia totaled +14.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Kazakhstan (+42.7% per year) and Latvia (+5.9% per year).

Export Prices by Country

In 2022, the average odoriferous substance mixture export price amounted to $X per ton, rising by 12% against the previous year. Over the period under review, the export price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 an increase of 29%. Over the period under review, the average export prices reached the maximum in 2022 and is expected to retain growth in years to come.

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 Estonia ($X per ton), while the average price for exports to Poland ($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 Kyrgyzstan (+7.9%), while the prices for the other major destinations experienced more modest paces of growth.

Odoriferous Substance Mixture Imports

Imports into Lithuania

In 2022, supplies from abroad of mixtures of odoriferous substances and their preparations increased by 26% to X tons, rising for the second year in a row after three years of decline. The total import volume increased at an average annual rate of +5.0% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2013 when imports increased by 32% against the previous year. Over the period under review, imports reached the peak figure at X tons in 2014; afterwards, it flattened through to 2022.

In value terms, odoriferous substance mixture imports surged to $X in 2022. In general, imports saw a resilient increase. The growth pace was the most rapid in 2013 when imports increased by 56%. Imports peaked in 2022 and are likely to see gradual growth in years to come.

Imports by Country

France (X tons), Germany (X tons) and the Netherlands (X tons) were the main suppliers of odoriferous substance mixture imports to Lithuania, with a combined 52% share of total imports. Italy, the United States, Poland, Spain and Ireland lagged somewhat behind, together comprising a further 36%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by the United States (with a CAGR of +66.7%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), the United States ($X) and France ($X) were the largest odoriferous substance mixture suppliers to Lithuania, together accounting for 67% of total imports.

In terms of the main suppliers, the United States, with a CAGR of +71.7%, saw 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

In 2022, the average odoriferous substance mixture import price amounted to $X per ton, picking up by 10% against the previous year. Over the period under review, the import price showed a resilient increase. The most prominent rate of growth was recorded in 2015 when the average import price increased by 37%. Over the period under review, average import prices hit record highs 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 the United States ($X per ton), while the price for Italy ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Germany (+22.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform