Morocco: Essential Oils Market 2024

Essential Oils Market Size in Morocco

In 2022, the Moroccan essential oils market was finally on the rise to reach $X for the first time since 2016, thus ending a five-year declining trend. In general, consumption saw a measured expansion. Over the period under review, the market reached the peak level at $X in 2016; however, from 2017 to 2022, consumption stood at a somewhat lower figure.

Essential Oils Production in Morocco

In value terms, essential oils production reduced to $X in 2022 estimated in export price. Overall, the total production indicated a remarkable increase from 2012 to 2022: its value increased at an average annual rate of +5.5% 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 +5.8% against 2020 indices. The most prominent rate of growth was recorded in 2015 when the production volume increased by 33% against the previous year. Over the period under review, production reached the maximum level at $X in 2016; however, from 2017 to 2022, production remained at a lower figure.

Essential Oils Exports

Exports from Morocco

In 2022, the amount of essential oils exported from Morocco shrank markedly to X tons, waning by -17.2% compared with the previous year's figure. In general, total exports indicated a slight increase from 2012 to 2022: its volume increased at an average annual rate of +1.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +10.3% against 2020 indices. The pace of growth appeared the most rapid in 2013 with an increase of 35% against the previous year. The exports peaked at X tons in 2017; however, from 2018 to 2022, the exports stood at a somewhat lower figure.

In value terms, essential oils exports contracted significantly to $X in 2022. Over the period under review, total exports indicated a temperate increase from 2012 to 2022: its value increased at an average annual rate of +4.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports decreased by -36.1% against 2018 indices. The growth pace was the most rapid in 2016 when exports increased by 30%. The exports peaked at $X in 2018; however, from 2019 to 2022, the exports failed to regain momentum.

Exports by Country

France (X tons) was the main destination for essential oils exports from Morocco, with a 59% share of total exports. Moreover, essential oils exports to France exceeded the volume sent to the second major destination, Spain (X tons), sixfold. The United States (X tons) ranked third in terms of total exports with an 8.6% share.

From 2012 to 2022, the average annual growth rate of volume to France stood at +2.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Spain (-7.7% per year) and the United States (+5.4% per year).

In value terms, France ($X) remains the key foreign market for essential oils exports from Morocco, comprising 62% of total exports. The second position in the ranking was held by the United States ($X), with an 11% share of total exports. It was followed by Spain, with a 9% share.

From 2012 to 2022, the average annual rate of growth in terms of value to France totaled +2.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+10.0% per year) and Spain (-0.4% per year).

Export Prices by Country

The average essential oils export price stood at $X per ton in 2022, stabilizing at the previous year. Overall, export price indicated a noticeable expansion from 2012 to 2022: its price increased at an average annual rate of +2.3% 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 -27.2% against 2019 indices. The most prominent rate of growth was recorded in 2016 when the average export price increased by 21% against the previous year. The export price peaked at $X per ton in 2019; however, from 2020 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Australia ($X per ton), while the average price for exports to Sweden ($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 Spain (+7.9%), while the prices for the other major destinations experienced more modest paces of growth.

Essential Oils Imports

Imports into Morocco

In 2022, supplies from abroad of essential oils increased by 2.5% to X tons, rising for the second consecutive year after two years of decline. Over the period under review, imports, however, recorded a abrupt downturn. The growth pace was the most rapid in 2018 with an increase of 38%. Over the period under review, imports hit record highs at X tons in 2012; however, from 2013 to 2022, imports remained at a lower figure.

In value terms, essential oils imports contracted slightly to $X in 2022. In general, imports, however, recorded a abrupt setback. The pace of growth appeared the most rapid in 2018 with an increase of 62% against the previous year. Over the period under review, imports attained the peak figure at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

France (X tons), India (X tons) and Spain (X tons) were the main suppliers of essential oils imports to Morocco, together comprising 68% of total imports.

From 2012 to 2022, the biggest increases were recorded for India (with a CAGR of +15.6%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, France ($X) constituted the largest supplier of essential oils to Morocco, comprising 47% of total imports. The second position in the ranking was taken by India ($X), with a 15% share of total imports. It was followed by Spain, with an 8.9% share.

From 2012 to 2022, the average annual rate of growth in terms of value from France stood at -4.3%. The remaining supplying countries recorded the following average annual rates of imports growth: India (+18.3% per year) and Spain (+2.3% per year).

Import Prices by Country

In 2022, the average essential oils import price amounted to $X per ton, dropping by -5.2% against the previous year. Overall, the import price saw a pronounced shrinkage. The most prominent rate of growth was recorded in 2020 an increase of 44%. 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.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United States ($X per ton), while the price for Spain ($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 Arab Emirates (+11.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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