Luxembourg: Essential Oils Market 2024

Essential Oils Market Size in Luxembourg

In 2022, the Luxembourg essential oils market increased by 53% to $X, rising for the second year in a row after four years of decline. Over the period under review, consumption recorded a prominent expansion. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Essential Oils Production in Luxembourg

In value terms, essential oils production fell sharply to $X in 2022 estimated in export price. Overall, production, however, showed a prominent expansion. The most prominent rate of growth was recorded in 2014 when the production volume increased by 450% against the previous year. Over the period under review, production reached the peak level at $X in 2016; however, from 2017 to 2022, production failed to regain momentum.

Essential Oils Exports

Exports from Luxembourg

After two years of growth, overseas shipments of essential oils decreased by -74% to X kg in 2022. In general, exports recorded a abrupt decline. The pace of growth appeared the most rapid in 2017 with an increase of 306% against the previous year. Over the period under review, the exports hit record highs at X tons in 2021, and then reduced remarkably in the following year.

In value terms, essential oils exports dropped notably to $X in 2022. Overall, exports recorded a slight shrinkage. The pace of growth appeared the most rapid in 2017 with an increase of 436%. Over the period under review, the exports hit record highs at $X in 2021, and then dropped dramatically in the following year.

Exports by Country

Germany (X kg), France (X kg) and Austria (X kg) were the main destinations of essential oils exports from Luxembourg, together accounting for 88% of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Austria (with a CAGR of +189.3%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for essential oils exported from Luxembourg were Germany ($X), France ($X) and Austria ($X), together comprising 92% of total exports.

Among the main countries of destination, Austria, with a CAGR of +516.5%, recorded the highest rates of growth with regard to 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 essential oils export price stood at $X per ton in 2022, with an increase of 19% against the previous year. In general, export price indicated a strong expansion from 2012 to 2022: its price 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, essential oils export price increased by +31.9% against 2020 indices. The most prominent rate of growth was recorded in 2017 when the average export price increased by 32% against the previous year. Over the period under review, the average export prices reached the peak figure at $X per ton in 2019; however, from 2020 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Austria ($X per ton), while the average price for exports to the United States ($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 Austria (+113.1%), while the prices for the other major destinations experienced more modest paces of growth.

Essential Oils Imports

Imports into Luxembourg

In 2022, purchases abroad of essential oils increased by 51% to X tons, rising for the seventh year in a row after two years of decline. Overall, imports enjoyed a prominent increase. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, essential oils imports surged to $X in 2022. In general, imports recorded a strong increase. The most prominent rate of growth was recorded in 2017 when imports increased by 40% against the previous year. Over the period under review, imports attained the peak figure in 2022 and are expected to retain growth in the near future.

Imports by Country

France (X tons), Germany (X tons) and Belgium (X tons) were the main suppliers of essential oils imports to Luxembourg, with a combined 89% share of total imports. The UK, the Netherlands and Italy lagged somewhat behind, together comprising a further 6.7%.

From 2012 to 2022, the biggest increases were recorded for Italy (with a CAGR of +24.2%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), Belgium ($X) and France ($X) appeared to be the largest essential oils suppliers to Luxembourg, with a combined 86% share of total imports. The UK, Italy and the Netherlands lagged somewhat behind, together comprising a further 6.4%.

The UK, with a CAGR of +23.4%, recorded the highest rates of growth with regard to 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

The average essential oils import price stood at $X per ton in 2022, with a decrease of -9.3% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +4.3%. The most prominent rate of growth was recorded in 2015 when the average import price increased by 32%. As a result, import price attained the peak level of $X per ton. From 2016 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 Belgium ($X per ton), while the price for the Netherlands ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Belgium (+10.5%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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