Ukraine: Essential Oils Market 2024

Essential Oils Market Size in Ukraine

In 2022, the Ukrainian essential oils market decreased by -84.7% to $X, falling for the second year in a row after three years of growth. In general, consumption continues to indicate a deep downturn. As a result, consumption reached the peak level of $X. From 2021 to 2022, the growth of the market remained at a somewhat lower figure.

Essential Oils Production in Ukraine

In value terms, essential oils production shrank to $X in 2022 estimated in export price. Over the period under review, production continues to indicate a abrupt descent. The growth pace was the most rapid in 2019 when the production volume increased by 110%. Over the period under review, production reached the maximum level at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

Essential Oils Exports

Exports from Ukraine

Essential oils exports from Ukraine soared to X tons in 2022, rising by 27% against the previous year's figure. Overall, exports continue to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2017 when exports increased by 85%. The exports peaked in 2022 and are likely to see gradual growth in the near future.

In value terms, essential oils exports skyrocketed to $X in 2022. In general, exports, however, showed a slight downturn. The most prominent rate of growth was recorded in 2017 with an increase of 182%. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Germany (X tons) was the main destination for essential oils exports from Ukraine, with a 44% share of total exports. Moreover, essential oils exports to Germany exceeded the volume sent to the second major destination, Austria (X tons), threefold. France (X tons) ranked third in terms of total exports with a 12% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Germany amounted to +9.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Austria (+31.0% per year) and France (-11.8% per year).

In value terms, Germany ($X), France ($X) and Austria ($X) constituted the largest markets for essential oils exported from Ukraine worldwide, with a combined 75% share of total exports. The Netherlands, Kazakhstan, Poland, Moldova and Russia lagged somewhat behind, together comprising a further 19%.

Poland, with a CAGR of +44.0%, saw the highest growth rate of the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average essential oils export price amounted to $X per ton, rising by 13% against the previous year. In general, the export price, however, continues to indicate a slight reduction. The pace of growth appeared the most rapid in 2017 when the average export price increased by 53% against the previous year. Over the period under review, the average export prices reached the peak figure at $X per ton in 2013; however, from 2014 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was France ($X per ton), while the average price for exports to Russia ($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 (+8.5%), while the prices for the other major destinations experienced more modest paces of growth.

Essential Oils Imports

Imports into Ukraine

In 2022, supplies from abroad of essential oils decreased by -43.1% to X tons, falling for the second year in a row after three years of growth. Overall, imports, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 with an increase of 69%. As a result, imports reached the peak of X tons. From 2021 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, essential oils imports fell remarkably to $X in 2022. Over the period under review, imports, however, saw a perceptible increase. The growth pace was the most rapid in 2020 when imports increased by 71%. As a result, imports attained the peak of $X. From 2021 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

Germany (X tons), China (X tons) and India (X tons) were the main suppliers of essential oils imports to Ukraine, with a combined 51% share of total imports. Brazil, Indonesia, Spain, the Netherlands, the UK, Romania, Moldova, Italy, the United States and Switzerland lagged somewhat behind, together accounting for a further 41%.

From 2012 to 2022, the biggest increases were recorded for Moldova (with a CAGR of +121.2%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X) constituted the largest supplier of essential oils to Ukraine, comprising 26% of total imports. The second position in the ranking was taken by India ($X), with a 12% share of total imports. It was followed by China, with a 12% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Germany stood at -2.2%. The remaining supplying countries recorded the following average annual rates of imports growth: India (+19.3% per year) and China (+13.1% per year).

Import Prices by Country

The average essential oils import price stood at $X per ton in 2022, surging by 6.2% against the previous year. Over the last decade, it increased at an average annual rate of +1.5%. The pace of growth appeared the most rapid in 2017 an increase of 49% against the previous year. As a result, import price reached the peak level of $X per ton. From 2018 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 Switzerland ($X per ton), while the price for the Netherlands ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Brazil (+8.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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