Russian Federation: Odoriferous Substance Mixture Market 2024

Odoriferous Substance Mixture Market Size in the Russian Federation

After six years of growth, the Russian odoriferous substance mixture market decreased by -6.3% to $X in 2022. Over the period under review, the total consumption indicated a moderate increase from 2012 to 2022: its value increased at an average annual rate of +2.7% 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 +55.9% against 2015 indices. Odoriferous substance mixture consumption peaked at $X in 2021, and then reduced in the following year.

Odoriferous Substance Mixture Production in the Russian Federation

In value terms, odoriferous substance mixture production stood at $X in 2022 estimated in export price. In general, production recorded a strong increase. The most prominent rate of growth was recorded in 2015 when the production volume increased by 63% against the previous year. Over the period under review, production reached the maximum level at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Odoriferous Substance Mixture Exports

Exports from the Russian Federation

In 2022, after six years of growth, there was significant decline in overseas shipments of mixtures of odoriferous substances and their preparations, when their volume decreased by -7.2% to X tons. In general, exports, however, posted buoyant growth. The pace of growth appeared the most rapid in 2018 with an increase of 19% against the previous year. The exports peaked at X tons in 2021, and then dropped in the following year.

In value terms, odoriferous substance mixture exports dropped to $X in 2022. Over the period under review, exports, however, showed buoyant growth. The most prominent rate of growth was recorded in 2018 when exports increased by 53%. The exports peaked at $X in 2021, and then fell in the following year.

Exports by Country

Ukraine (X tons), Kazakhstan (X tons) and Belarus (X tons) were the main destinations of odoriferous substance mixture exports from Russia, together comprising 65% of total exports. Uzbekistan, Azerbaijan, Germany and Tajikistan lagged somewhat behind, together accounting for a further 27%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Germany (with a CAGR of +137.1%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for odoriferous substance mixture exported from Russia were Kazakhstan ($X), Ukraine ($X) and Belarus ($X), with a combined 63% share of total exports. Germany, Uzbekistan, Azerbaijan and Tajikistan lagged somewhat behind, together comprising a further 20%.

Among the main countries of destination, Germany, with a CAGR of +143.0%, saw the highest growth rate of 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 odoriferous substance mixture export price stood at $X per ton in 2022, which is down by -2.1% against the previous year. Over the period under review, export price indicated a notable expansion from 2012 to 2022: its price increased at an average annual rate of +4.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, odoriferous substance mixture export price increased by +88.7% against 2016 indices. The most prominent rate of growth was recorded in 2018 when the average export price increased by 29%. The export price peaked at $X per ton in 2021, and then reduced in the following year.

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 Germany ($X per ton), while the average price for exports to Tajikistan ($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 Azerbaijan (+12.7%), while the prices for the other major destinations experienced more modest paces of growth.

Odoriferous Substance Mixture Imports

Imports into the Russian Federation

After five years of growth, supplies from abroad of mixtures of odoriferous substances and their preparations decreased by -2% to X tons in 2022. The total import volume increased at an average annual rate of +1.4% over the period from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2018 with an increase of 8.8% against the previous year. Imports peaked at X tons in 2021, and then fell modestly in the following year.

In value terms, odoriferous substance mixture imports dropped to $X in 2022. Overall, total imports indicated a pronounced expansion from 2012 to 2022: its value increased at an average annual rate of +3.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +69.9% against 2015 indices. The growth pace was the most rapid in 2018 when imports increased by 19%. Over the period under review, imports attained the maximum at $X in 2021, and then reduced in the following year.

Imports by Country

In 2022, Germany (X tons) constituted the largest supplier of odoriferous substance mixture to Russia, accounting for a 41% share of total imports. Moreover, odoriferous substance mixture imports from Germany exceeded the figures recorded by the second-largest supplier, France (X tons), threefold. The third position in this ranking was taken by Switzerland (X tons), with an 11% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Germany stood at +1.3%. The remaining supplying countries recorded the following average annual rates of imports growth: France (+1.2% per year) and Switzerland (+3.0% per year).

In value terms, Germany ($X), France ($X) and Ireland ($X) appeared to be the largest odoriferous substance mixture suppliers to Russia, together accounting for 54% of total imports. The United States, Switzerland, Japan, Turkey, the Netherlands, the UK, Hungary and Slovenia lagged somewhat behind, together comprising a further 36%.

Hungary, with a CAGR of +60.5%, recorded the highest growth rate of 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

In 2022, the average odoriferous substance mixture import price amounted to $X per ton, with a decrease of -5.8% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +2.0%. The pace of growth appeared the most rapid in 2017 when the average import price increased by 14% against the previous year. The import price peaked at $X per ton in 2021, and then reduced in the following year.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United States ($X per ton), while the price for Slovenia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Japan (+12.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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