Report Update Nov 1, 2024

Puerto Rico - Essential Oils - Market Analysis, Forecast, Size, Trends and Insights

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Puerto Rico: Essential Oils Market 2024

Essential Oils Market Size in Puerto Rico

In 2021, the Puerto Rican essential oils market was finally on the rise to reach $X for the first time since 2015, thus ending a five-year declining trend. In general, the total consumption indicated mild growth from 2012 to 2021: its value increased at an average annual rate of +1.9% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -41.1% against 2015 indices. Over the period under review, the market attained the maximum level at $X in 2015; however, from 2016 to 2021, consumption remained at a lower figure.

Essential Oils Production in Puerto Rico

In value terms, essential oils production expanded sharply to $X in 2021 estimated in export price. Overall, the total production indicated a temperate expansion from 2012 to 2021: its value increased at an average annual rate of +2.1% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -41.6% against 2015 indices. The most prominent rate of growth was recorded in 2013 with an increase of 68%. Over the period under review, production reached the maximum level at $X in 2015; however, from 2016 to 2021, production failed to regain momentum.

Essential Oils Exports

Exports by Country

Brazil (X tons) and the United States (X tons) represented roughly 29% of total exports in 2021. China (X tons) took an 8.9% share (based on physical terms) of total exports, which put it in second place, followed by India (8.8%), the Netherlands (8.6%) and the United Arab Emirates (4.8%). The following exporters - Mexico (X tons), France (X tons), Germany (X tons), Spain (X tons), Indonesia (X tons), Italy (X tons) and the UK (X tons) - each recorded a 21% share of total exports.

From 2012 to 2021, the biggest increases were in the Netherlands (with a CAGR of +46.2%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X), France ($X) and India ($X) were the countries with the highest levels of exports in 2021, with a combined 34% share of total exports. China, the Netherlands, Brazil, Germany, Indonesia, Italy, the United Arab Emirates, the UK, Spain and Mexico lagged somewhat behind, together comprising a further 41%.

The Netherlands, with a CAGR of +38.8%, recorded the highest growth rate of the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Essential Oils Imports

Imports by Country

In 2021, the United States (X tons), distantly followed by Germany (X tons), the Netherlands (X tons), the UK (X tons), China (X tons), Indonesia (X tons) and France (X tons) were the largest importers of essential oils, together achieving 58% of total imports. Japan (X tons), India (X tons), Ireland (X tons), Singapore (X tons), Malaysia (X tons) and Canada (X tons) took a minor share of total imports.

From 2012 to 2021, average annual rates of growth with regard to essential oils imports into the United States stood at +4.0%. At the same time, the Netherlands (+27.3%), Malaysia (+26.2%), Indonesia (+7.9%), Canada (+7.1%), France (+4.4%), India (+4.1%), China (+2.2%), Germany (+2.2%) and Ireland (+1.1%) displayed positive paces of growth. Moreover, the Netherlands emerged as the fastest-growing importer imported in the world, with a CAGR of +27.3% from 2012-2021. The UK and Singapore experienced a relatively flat trend pattern. By contrast, Japan (-7.4%) illustrated a downward trend over the same period. From 2012 to 2021, the share of the Netherlands, Malaysia, the United States and Indonesia increased by +6.2, +2.5, +1.8 and +1.6 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United States ($X) constitutes the largest market for imported essential oils into Puerto Rico, comprising 21% of global imports. The second position in the ranking was taken by France ($X), with an 8.6% share of global imports. It was followed by Germany, with a 7.5% share.

In the United States, essential oils imports expanded at an average annual rate of +6.4% over the period from 2012-2021. In the other countries, the average annual rates were as follows: France (+5.5% per year) and Germany (+4.3% per year).

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. India, France, Russia, the UK, Indonesia, Ireland, Spain, Saudi Arabia, Mexico and Argentina lagged somewhat behind, together accounting for a further 31%.

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

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

What are the leading suppliers of essential oils to Puerto Rico?

In value terms, the United States constitutes the largest market for imported essential oils into Puerto Rico, comprising 22% of global imports. The second position in the ranking was occupied by France, with a 9% share of global imports. It was followed by Germany, with a 7.7% share.

What are the leading importers of essential oils from Puerto Rico?

In value terms, the largest essential oils supplying countries from Puerto Rico were the United States, France and India, with a combined 36% share of total exports. These countries were followed by China, the Netherlands, Brazil, Germany, Indonesia, Italy, the UK, Spain, Mexico and Canada, which together accounted for a further 42%.

What is the average export price for essential oils in Puerto Rico?

In 2021, the export price in Puerto Rico amounted to less than $0.1 per ton, remaining relatively unchanged against the previous year.

What is the average import price for essential oils in Puerto Rico?

The import price in Puerto Rico stood at less than $0.1 per ton in 2021, leveling off at the previous year.

This report provides an in-depth analysis of the essential oils market in Puerto Rico. 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:

Puerto Rico

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Puerto Rico
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
Find deeper insights into current market developments
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