Republic of Korea: Scent Spray Market 2024

Scent Spray Market Size in Republic of Korea

In 2022, the South Korean scent spray market decreased by X% to $X, falling for the second consecutive year after nine years of growth. Overall, consumption, however, continues to indicate a resilient increase. Over the period under review, the market hit record highs at $X in 2020; however, from 2021 to 2022, consumption failed to regain momentum.

Scent Spray Production in Republic of Korea

In value terms, scent spray production reduced to $X in 2022 estimated in export price. Overall, production, however, recorded resilient growth. The most prominent rate of growth was recorded in 2016 when the production volume increased by X% against the previous year. Over the period under review, production attained the peak level at $X in 2019; however, from 2020 to 2022, production failed to regain momentum.

Scent Spray Exports

Exports from Republic of Korea

In 2022, shipments abroad of scent sprays decreased by X% to X tons, falling for the fourth consecutive year after four years of growth. Overall, exports recorded a abrupt downturn. The pace of growth was the most pronounced in 2016 with an increase of X%. Over the period under review, the exports hit record highs at X tons in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, scent spray exports contracted sharply to $X in 2022. Over the period under review, exports continue to indicate a abrupt decline. The most prominent rate of growth was recorded in 2016 when exports increased by X% against the previous year. The exports peaked at $X in 2013; however, from 2014 to 2022, the exports failed to regain momentum.

Exports by Country

The United States (X tons), Poland (X tons) and China (X tons) were the main destinations of scent spray exports from South Korea, with a combined X% share of total exports.

From 2012 to 2022, the biggest increases were recorded for Poland (with a CAGR of X%), while shipments for the other leaders experienced a decline.

In value terms, the United States ($X), Poland ($X) and China ($X) appeared to be the largest markets for scent spray exported from South Korea worldwide, with a combined X% share of total exports.

Among the main countries of destination, Poland, with a CAGR of X%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced a decline.

Export Prices by Country

The average scent spray export price stood at $X per ton in 2022, waning by X% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. The pace of growth appeared the most rapid in 2020 when the average export price increased by X%. As a result, the export price reached the peak level of $X per ton. From 2021 to 2022, the average export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Poland ($X per ton), while the average price for exports to Malta ($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 China (X%), while the prices for the other major destinations experienced more modest paces of growth.

Scent Spray Imports

Imports into Republic of Korea

In 2022, purchases abroad of scent sprays decreased by X% to X tons, falling for the second year in a row after two years of growth. Over the period under review, imports saw a abrupt slump. The pace of growth appeared the most rapid in 2020 with an increase of X% against the previous year. As a result, imports attained the peak of X tons. From 2021 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, scent spray imports reduced markedly to $X in 2022. In general, imports continue to indicate a slight descent. The growth pace was the most rapid in 2020 with an increase of X% against the previous year. As a result, imports reached the peak of $X. From 2021 to 2022, the growth of imports remained at a lower figure.

Imports by Country

In 2022, China (X tons) constituted the largest scent spray supplier to South Korea, with a X% share of total imports. Moreover, scent spray imports from China exceeded the figures recorded by the second-largest supplier, Vietnam (X tons), more than tenfold.

From 2012 to 2022, the average annual rate of growth in terms of volume from China stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: Vietnam (X% per year) and Thailand (X% per year).

In value terms, China ($X) constituted the largest supplier of scent sprays to South Korea, comprising X% of total imports. The second position in the ranking was held by Vietnam ($X), with a X% share of total imports.

From 2012 to 2022, the average annual growth rate of value from China was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Vietnam (X% per year) and Thailand (X% per year).

Import Prices by Country

The average scent spray import price stood at $X per ton in 2022, rising by X% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2021 an increase of X%. Over the period under review, average import prices reached the maximum in 2022 and is expected to retain growth in the immediate term.

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 Thailand ($X per ton), while the price for Vietnam ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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